3 Top Cannabis Stocks to Buy for August
There's little question that marijuana presents a long-term growth opportunity for investors, especially as the U.S. moves toward legalizing the substance at the federal level.
Many of the big, early players in the cannabis space, including Canopy Growth, Hexo, and Tilray, all soared quickly out of the gate only to fall back to earth as the reality of coping with the labyrinthine framework of Canada's regulatory system proved more challenging than originally expected. But there's hope the U.S. system won't fumble the ball in the same way.
Investors can still jump into the market now and make big returns. Industry analysts at New Frontier Data estimate that legal marijuana sales in the U.S. will grow at a 16% compound rate annually through 2025 to reach $43 billion -- without including the potential for new states or federal legislation. Some 64% of those sales will be for adult recreational use and the remaining 36% will be for medical patients.
Source Fool.com
