Great News for Marijuana Proponents: National Teen Use Rates Are at a 15-Year Low
Few industries have been able to put up growth numbers like the legal marijuana industry over the past couple of years. Though estimates vary, most analysts estimate the legal weed industry can grow by 25% to 35% annually between 2016 and 2021. GreenWave Advisors is calling for perhaps the highest growth rate, with $30 billion in U.S. sales and all 50 states legal to some degree (medical or recreational) by 2021.
The prospects of this consistent growth are what's fueled a ferocious rally in marijuana stocks over the past year. A number of cannabis producers and retailers have seen their share prices surge by 100% or more. It also hasn't hurt that more than half of all U.S. states have legalized to some degree, Mexico legalized medical cannabis in June, and Canada is considering legalizing recreational pot by next summer.
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Source: Fool.com
