This $6.7B Industry Has Consumers Wondering Why More States Aren’t Pushing to Get Things Up and Running
Cannabis has been one of the main talking points in the November elections. Many consumers in some states use marijuana for medicinal and recreational use.
According to a Gallup poll, public support for legalizing marijuana reached 60%, its highest level in nearly 50 years. The people have spoken, and seven states legalized marijuana on November 8, 2016. Consumers in some of these states are now able to freely use and purchase cannabis.
Cannabis is one of the fastest growing industries, and Arcview Market Research published a report, showing that regulated North American cannabis sales totaled $6.7 billion, or a 30% year over year growth. The report also projected the industry to grow to $20.2 billion in sales by 2021.
One stock that I’ve been watching recently broke out of its downtrend and could continue higher. There’s some room for it to run, if you look at its 52-week high. The company has a unique platform and mobile app, which could be a game change in the cannabis industry.
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