The Maker of Corona Just Bought a $190 Million Stake in Canada's Biggest Marijuana Grower

When it comes to the fastest growing industries, chances are you're liable to find marijuana at or near the very stop. Last year, according to cannabis research firm ArcView, the North American legal weed market grew sales by 34% to $6.9 billion, and the expectation is that sales could grow by a compounded rate of 26% per year through 2021, creating a market worth nearly $22 billion. This growth has been a big reason investors have sent valuations for marijuana stocks through the roof.

At the heart of this surge in sales has been the belief among the public that marijuana should be legalized. A Quinnipiac University poll in April of this year found that an overwhelming 94% of Americans would like to see medical cannabis legalized, while a Gallup poll released last week showed an all-time record 64% of Americans are in favor of legalizing adult-use weed. Mind you, support for the full legalization of marijuana stood at just 25% back in 1995, so the industry has come an incredibly long way in a short amount of time.

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Source: Fool.com