Legal Marijuana Stocks Just Got a Massive Catalyst Thanks to This State

The legal cannabis market will be worth $66.3 billion by 2025. And we're one step closer to realizing that industry growth today.

Legal marijuana stocks just got a huge catalyst from the state of New York. And one of our top pot stocks is poised to benefit.

The news from New York shows cannabis is becoming more accepted than ever. And the roadblocks that exist for weed stocks will eventually be torn down completely.

Here's what's sending ripples through the legal marijuana industry right now.

What's Happening in New York to Boost Legal Marijuana Stocks?

New York Governor Andrew Cuomo signed a bill at the end of July that will decriminalize marijuana possession and expunge a large number of past convictions in the state.

Treating marijuana as a misdemeanor and expunging records from this point forward is one more step toward full cannabis legalization.

And it's not just New York pushing these ideas.

Some presidential candidates have spoken loudly about the same issues as well.

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U.S. Sen. Kamala Harris (D-CA) has introduced federal marijuana decriminalization legislation. This shows the conversation is happening at the national level.

As marijuana becomes less taboo, uses for cannabis products continue to grow. And so does the value of the legal marijuana industry.

If you want to take advantage of these gains, you'll need to own these marijuana stocks before the regulations are passed for full legalization.

There are a ton of pot stocks to choose from, but this is one of the top cannabis stocks to own today. It's going to take a big piece of that $66.3 billion industry...

One of the Top Legal Marijuana Stocks to Own Now

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If you're looking for a marijuana stock to buy now, our top pick is Canopy Growth Corp. (NYSE: CGC). Shares may be down recently, but this is one of the most promising cannabis growth stocks on the market - so think of this as an amazing discount.

Over the last month, shares of CGC have dropped about 20%. The main reason for this is a shakeup in the executive suite. Long term, this is nothing to be concerned about.

Canopy is an Ontario-based marijuana company that was founded in 2013 under the name "Tweed Marijuana Inc." It switched to its current moniker in 2015 and is presently known as the world's largest cannabis company based on market cap.

Canopy was also the first licensed, federally regulated, and publicly traded cannabis company in North America.

The company's products include dried flowers, hemp, capsules, and oils and concentrates. It has several popular brands, including Tweed, DNA Genetics, and CraftGrow.

Canopy has formed partnerships with a number of recognizable names, including Martha Stewart, Seth Rogen, and Snoop Dogg.

In February, the company announced its partnership with Martha Stewart, indicating that the lifestyle guru would help the company with a line of CBD products. In August, Martha Stewart and Canopy announced the launch of a line of cannabis products. These include extracts, edibles, pet food and animal care products, and cannabis-based cosmetics.

Canopy also purchased Acreage Holdings Inc. (OTCMKTS: ACRGF) earlier this year, which gives the company more access to the U.S. market since Acreage has operations in a number of U.S. states.

Pot stocks are notorious for being incredibly volatile, which presents investors with a unique opportunity. Using the dollar-cost averaging strategy with this type of stock can help you improve your position over time.

At a pivotal moment like this, when the share price is down and there are catalysts for gains, you can add more shares to your portfolio than you could in the midst of a rally.

Something massive is on the horizon for legal marijuana stocks, and investors that get in early enough will reap the rewards. The news out of New York is just the first of many catalysts.

Illinois Becomes the 11th State to Legalize Cannabis (Making More People Rich)

Cannabis laws are being reformed en masse: Illinois has not only become the 11th - and second largest - state to legalize marijuana, but the first to do so by way of state legislation.

That means the medical, personal, and economic benefits of "America's Green Gold Rush" are appealing to Republicans and Democrats alike.

One cannabis research executive is hailing Illinois the "Marijuana Mecca of the Midwest," a hallmark of the rising uncapped profit potential ahead.

Once the Fed ends the cannabis prohibition nationwide, all bets will be off - demand will boost share prices through the roof. But you can still get in on the ground floor, just in time for what could be the windfall of the century.

Illinois is already housing some of our top picks in the industry, so a few of our favorite stocks could get yet another boost.

Just click here to see how you can get them - and to potentially profit from this "unstoppable economic revolution"...

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