Cannabis is an exciting growth area due to its steady legalization at the state level and increasing popularity. For investors, Green Thumb Industries (OTC:GTBIF) (GBTIF), Tilray (NASDAQ:TLRY), GrowGeneration (NASDAQ:GRWG), Aurora Cannabis (NYSE:ACB), and NewAge Beverages (NBEV) are 5 stocks to watch.Strong opinions within a society can change in just a couple of generations. Cannabis is one such example of this phenomenon. Until 2000, less than 30% of Americans approved of its legalization for recreational use. Today, two-thirds of the country is in support.
So it’s not surprising that laws and regulations surrounding cannabis are also changing. In the US, marijuana is now available in 36 states for medicinal use and recreational use in 17 states. Given cannabis’ increased acceptance and use especially among young people, it’s likely to be legalized federally in the not-too-distant future. This would be a major development, as it would allow the industry to more easily access financial services to enable its growth.
Currently, the global cannabis industry is estimated to be worth $24.6 billion and expand at a 14.3% rate through 2028. This type of growth clearly entails opportunities for investors in high-quality companies. This report will give a broad overview of the cannabis industry and then highlight some of the most interesting companies in the sector: Green Thumb Industries (GBTIF), Tilray (TLRY), GrowGeneration (GRWG), Aurora Cannabis (ACB), and NewAge Beverages (NBEV).