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One of the most exciting upcoming events for investors right now is still the eventual transition of illegal marijuana sales to a legal market.
While some kind of legal marijuana is available to purchase right now throughout most of North America, the majority of cannabis sales are still taking place underground. In 2018, New Frontier Data projected that there was over $86 billion in cannabis sales in North America.
Only $10.8 billion of that was legal, meaning more than $70 billion – or 81% – in sales was conducted in the black market.
To make a dent in the illegal markets, you need two things. One is education. When more people learn about why it's better to turn to safe, regulated, and legal markets, you send cannabis consumers to legitimate dispensaries instead of dark alleys.
About the Author
Michael A. Robinson is a 35-year Silicon Valley veteran and one of the top technology financial analysts working today. He regularly delivers winning trade recommendations to the Members of his monthly tech investing newsletter, Nova-X Report, and small-cap tech service, Radical Technology Profits. In the past two years alone, his subscribers have seen over 100 double- and triple-digit gains from his recommendations.
As a consultant, senior adviser, and board member for Silicon Valley venture capital firms, Michael enjoys privileged access to pioneering CEOs and high-profile industry insiders. In fact, he was one of five people involved in early meetings for the $160 billion "cloud" computing phenomenon. And he was there as Lee Iacocca and Roger Smith, the CEOs of Chrysler and GM, led the robotics revolution that saved the U.S. automotive industry.
In addition to being a regular guest and panelist on CNBC and Fox Business Network, Michael is also a Pulitzer Prize-nominated writer and reporter. His first book, "Overdrawn: The Bailout of American Savings" warned people about the coming financial collapse - years before "bailout" became a household word.
You can follow Michael's tech insight and product updates for free with his Strategic Tech Investor newsletter.