Canadian Marijuana Stocks: Look for These Signs That the Industry Is Turning Around
In November 2018, marijuana looked to be the hottest investment since sliced bread. Just a few weeks prior, Canada had become the first industrialized country in the world to legalize adult-use marijuana, and the broad-based expectation on Wall Street, as well as among independent analysts, was that pot stocks could quickly grow their sales and generate a profit.
The State of the Legal Cannabis Markets report, published earlier this year by Arcview Market Research and BDS Analytics, offered just a taste of the industry's potential. Between 2014 and 2018, worldwide revenue more than tripled from $3.4 billion to $10.9 billion, with the report suggesting that global sales could hit more than $40 billion by 2024. Even though Canada wasn't expected to lead the path forward -- that's reserved for the crown jewel of the cannabis movement, the United States -- it was still expected to generate north of $5 billion in annual sales in roughly five years' time.
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Source Fool.com
