This Marijuana Penny Stock Just Earned a Major Investment From Big Tobacco
Forgive the pun, but the cannabis industry is truly budding before our eyes. According to a newly released report from Arcview Market Research and BDS Analytics, global pot industry sales more than tripled from $3.4 billion in 2014 to $10.9 billion by 2018, and they're poised to nearly quadruple to $40.6 billion by 2024. Mind you, this figure doesn't include pharmaceutical-based cannabinoid sales, or cannabidiol (CBD) sales from general retail stores.
This growth has played a big role in pushing marijuana stock valuations significantly higher since 2016. And it's also been the dangling carrot that's lured big investment dollars into the cannabis space. Just this past week, we witnessed yet another brand-name company diving into the industry with a major investment -- albeit the company chosen to be the recipient of the investment might surprise a lot of folks.
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Quelle Fool.com
