The marijuana market as a whole is a lot like the Grand Canyon - it looks fantastic up close, but from a distance, it's absolutely breathtaking.
Last year, total marijuana sales - legal and black market - in the United States topped $86 billion. In 2018, all across the country, nearly 49 million people spent an average of $1,755 each on marijuana.
The thing is, some $68 billion of that was from totally illegal black market sales.
So the "$68 billion question," as it were, is how quickly that "legal gap" will close and start putting mega-profits in pot stock investors' pockets.
The short answer: much faster than anyone out there is predicting. Bringing illicit sales into the legal "light" doesn't require convincing new customers to try something new; no new consumption habits need to be formed.
It's a well-established market, full of folks just waiting to fork over their money.
And they will fork it over by the truckload...
About the Author
Greg Miller started working on Wall Street in September, 1987, just a month before the “Black Monday” stock market crash.
During his career there, he became an expert in just about every kind of publicly traded security - from blue-chip and small-cap stocks to municipals, junk bonds, and derivatives. As a portfolio manager, Greg was responsible for over $500 million of assets in mutual funds and insurance company accounts.
After leaving the Street, he designed a successful options trading strategy and made lucrative tech investments for a financial publication. He has also helped develop new products and worked with other editors to hone their strategies. He’s always been dedicated to deep, fundamental research - and he always will be - because he believes buying the very best companies at the right price is the best way to amass wealth in the stock market.
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