The stock market has been off to a great start to 2024, with the S&P 500 hitting the 5,000 mark for the first time ever. While big tech is a key reason for the index's success, investors shouldn't overlook another hot area of the stock market, and that's cannabis.

Pot stocks have been surging in value this year as investors have warmed up to growth stocks as a whole amid hopes that interest rates will come down. Lower interest rates will lessen borrowing costs and thus decrease the overall risk for growth stocks and businesses that aren't yet profitable.

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Source Fool.com