We've been talking about it for months.
And now we're just six days away.
Canada has legalized recreational marijuana nationwide, and that law goes into effect Oct. 17 – exactly six days from today.
That means any adult over 18 will be able to just walk into a dispensary and buy up to 30 grams of cannabis. That could be flower, oils, or – in some places – seeds and plants.
And that could make you a multimillionaire by this time next year.
But only if you act now.
Now, there are a few hiccups here – as expected.
There aren't as many dispensaries as we'd like.
Ontario and Nunavut – Canada's most and least populated provinces, respectively – will have no stores open Oct. 17. British Columbia has one store for its 4.8 million residents, and the Northwest Territories will be home to just six government-run stores – about one per 7,420 residents.
But in the age of online shopping, that's not really a concern.
While the start to legal cannabis may be a little slower than expected, it won't stay slow for long. Manitoba has set a goal to have 90% of residents live within 30 minutes of a dispensary. Ontario is working on opening as many as 40 stores. Already, hundreds of companies have applied to be retailers.
So what's the reason for the slowdown, if everyone seems to be excited about legalization?
About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.