California Could Tax the Daylights out of Marijuana Consumers

California Could Tax the Daylights out of Marijuana Consumers

You'll have to pardon the apropos pun, but the marijuana industry is truly budding. Marijuana Business Daily's newest annual report, "Marijuana Business Factbook 2017," predicts annual legal weed growth in the U.S. of 30% in 2017, another 45% in 2018, and an aggregate of 300% between 2016 and 2021, leading to a market generating approximately $17 billion in annual sales. This growth is a big reason why investors simply can't get enough of marijuana stocks.

Underlying this organic and expansion-based sales surge is a decisive shift in the way the public thinks about cannabis. Gallup, which has conducted surveys on pot since 1969, found that a record number of people (64%) favored the legalization of marijuana in its October 2017 poll. That's up from just 25% back in 1995, the year before California became the first state to legalize medical cannabis for compassionate use. This shift in opinion has been the key to marijuana's two-decade-plus expansion in the U.S.

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Source: Fool.com