Innovation

It’s An Economic Boom Time For Legal Pot

by James Poulos

December 4, 2016

2017 could be the year of the great American pot bonanza – even for those who invest but don’t partake.

With the latest round of legalizations stretching pot-friendly zones up and down the coasts, the national weed market could leap up to $21 billion by the year 2020, if New Frontier Data – now in partnership with the pot industry’s Arcview Group – has the right idea. That’s a pretty major increase from last year’s $5.7 billion last year and this year’s projected $7.9 billion, according to figures cited by CNN.

That’s got markets buzzing. Although different pot stocks have performed wildly differently, and it’s probably still way too early to break out the IPOs, sites like The Street have already picked out some hot Canadian stocks, “with one returning 85% in a month. Another stock performed so well that its market capitalization increased more than $100 million in one month.”

Thanks to DEA scheduling delays, FDA approval questions, and the like, other stocks aren’t quite so lit. But even among that crop, it’s not the cannaboid products that are bringing values down. Friendly reminder, this isn’t investment advice. But stoned or not, your mileage may vary.

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It’s An Economic Boom Time For Legal Pot