The company has also benefited recently from Prime Minister Justin Trudeau’s push to legalize adult-use weed. According to a press release from Health Canada back in May 2017, the number of eligible medical patients was increasing by about 10% a month, providing more than enough demand for the 44 licensed growers at the time. Remember, Canada legalized medical cannabis back in 2001, so it’s had plenty of time to get its burgeoning medical weed business up and running. has surged by 367%, mainly on account of growth expectations in Canada. Over the past two years, Supreme Cannabis Co. One such company where “caveat emptor” could very well be the motto is The Supreme Cannabis Company (NASDAQOTH:SPRWF), which was known as Supreme Pharmaceuticals until about two weeks ago. Yes, this even includes Canadian marijuana stocks, where the federal government appears to be pushing toward a July 2018 recreational legalization.
While a small handful of pot stocks have certainly given investors reasons to be excited, quite a few marijuana stocks are still downright dangerous. It’s this rapid sales growth, along with budding support for legalization, that’s driving investors into marijuana stocks.īuyer beware when it comes to this small-cap pot stock Leading cannabis-research firm ArcView estimates that legal pot sales in North American can grow from $6.9 billion in 2016 to $21.6 billion by 2021, working out to a compound annual growth rate of 26%. This support is also seen through legal weed sales growth and expectations. An August Quinnipiac survey found 94% support for legalization and just 4% of respondents opposed to the idea of physicians prescribing medical cannabis to patients.
Support for medical cannabis is even more convincing. What was once a taboo topic is now completely mainstream, with the latest Gallup poll showing that almost 2 out of 3 Americans want to see pot legalized across the country. The marijuana industry is, pardon the apropos pun, growing like a weed at the moment, and it’s shown little signs of slowing.