3 Reasons This Marijuana Stock Has Gained $806 Million in Market Cap in Just 5 Weeks
While cryptocurrencies like bitcoin and Ethereum have been all the rage of investors this year, marijuana stocks have quietly put together another impressive performance in 2017. Far more pot stocks over a $200 million market cap than not have seen their valuations double or triple over the trailing year.
The catalysts behind this bullishness continues to be a combination of strong legal weed sales, and a persistent shift in favorability toward cannabis. Marijuana Business Daily's annual report entitled "Marijuana Business Factbook 2017" anticipates 45% sales growth in 2018 in the U.S., and a 300% aggregate push higher in sales between 2016 and 2021 to a $17 billion market. Meanwhile, Gallup's latest survey showed that a record number of Americans (64% to be exact) want to see weed legalized nationally. Presumably, as this figure pushes higher, the pressure to reschedule cannabis in Washington, D.C. will be stepped up.
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Source: Fool.com
