The Best Bargains Could Be in This Overlooked Industry

Are you looking for some growth stocks trading at bargain prices? One industry you should consider right now is cannabis. It's still in its early growth stages, and there are plenty of opportunities down the road as more states legalize marijuana. Although there's still a federal ban in place, support for legalization has never been higher, and it's only a matter of time before serious reform happens.

However, the sector has been hit especially hard over the past year. While the S&P 500 has declined 12% in 12 months, the Horizons Marijuana Life Sciences ETF has plummeted 66%. Lack of progress on legalization is likely a key reason investors have lost interest in the industry. But that has made some pot stocks downright steals. Here's where to look for deals in the industry, including some particularly attractive buying opportunities right now.

Investing in some of the top multi-state marijuana companies in the U.S. can give investors a great opportunity to buy stocks that are full of potential. Due to the federal ban on marijuana, these stocks can't list on major exchanges like the Nasdaq or NYSE. That means that they're reaching a smaller pool of investors. Legalization or legislation allowing them to list on those exchanges could instantly lead to a rally in their share prices.

Source Fool.com