This Pot Stock Had a Busy Week, and Its Shares Gained 11%

Pardon the pun, but the marijuana industry is growing like a weed, and marijuana stocks are following suit. In many instances, the largest pot stocks by market cap have seen their share prices rise by at least 100% over the trailing year, as investors chase the expectation of broadening legalization efforts throughout North America.

In many ways, these investors haven't been disappointed. Since the year began, Mexico wound up legalizing medical cannabis, Prime Minister Justin Trudeau in Canada introduced a bill that would legalize recreational weed throughout the country by July 1, 2018, and in the U.S. we're up to 29 medical cannabis-legal states and eight adult-use states. The result, according to cannabis research firm ArcView, was 34% legal sales growth in North America last year, and the expectation of a compound annual growth rate in legal pot of 26% through 2021.

Image source: Getty Images.

Source: Fool.com