Last month, the Canadian government legalized recreational marijuana nationally, opening the floodgates to billions of dollars in marijuana investment.
This is just the latest development in a wave of legalization efforts over the last several years that are breaking through decades of stringent cannabis laws – and turning the top marijuana stocks into profit machines.
For example, in 2014, New York and Minnesota legalized medical marijuana, while Maryland decriminalized cannabis possession.
In November 2016, population centers like California and Massachusetts followed suit, fully legalizing recreational marijuana. Arizona and New Jersey are now considering legalization in the upcoming November 2018 election.
With legalization sweeping across North America, it's clear that the budding cannabis industry is here to stay.
And that's great news for investors. Last year, legal marijuana sales in North America hit $10 billion. By 2021, the industry is expected to reach $24.5 billion. That's an incredible growth of over 145% in just four years.
Thanks to legalization movements sweeping over the United States and full legalization now imminent in Canada, we're bringing you the best marijuana stocks to buy right now…
Best Marijuana Stock to Buy, No. 2: GW Pharmaceuticals
GW Pharmaceuticals Plc. ADR (Nasdaq: GWPH) is an experimental drug company based in the United Kingdom.
GW recently had a significant breakthrough thanks to a drug approval granted by the U.S. Food and Drug Administration (FDA). Last month, the FDA signed off on Epidiolex, a cannabis-based drug developed by GW to treat two rare forms of aggressive epilepsy.
Renegade Investment Expert: "It's time to double down – or even triple down – on your cannabis investments!" Read more…
The drug is based on a major compound found in cannabis, cannabidiol (CBD). CBD doesn't make people that take it feel high, unlike another cannabis compound, tetrahydrocannabinol (THC).
Each of the compounds reacts with human nervous system receptors. CBD is known to treat brain cancer, autism, opioid addiction, and Lou Gehrig's disease.
Money Morning Defense and Tech Specialist Michael A. Robinson believes that Epidiolex could bring in $1.7 billion in sales by 2026.
However, that's just the beginning.
According to Michael, CBD-based products are likely to constitute a $55.8 billion market by 2025.
Stores in legalized states abound with products based on or infused with CBD. These include hemp-oil capsules, gummies, coffees, massage oils and creams, vaping supplies… the list goes on and on.
Robinson forecasts a worldwide marijuana market of nearly $56 billion in 2025. He has found a Canada-based company that is poised to profit from cannabis oil. It's a company he has followed and recommended, and it continues to get even better.
Plus, the company uplisted in late May. That means its shares can now be purchased on the New York Stock Exchange as well as its original exchange, the Toronto Stock Exchange.
Listing on the larger NYSE will bring the shares a bigger audience, more liquidity, and greater growth potential.
Finally, our best marijuana stock just raised funds totaling $500 million, the largest sum ever raised for a marijuana company.
Here's our pick…