The cannabis industry attained new highs in 2016, paving the way for some big changes this year, says Tom Beck, senior editor of Portfolio Wealth Global.
Four states in the U.S. voted in favor of legalization on November 8th of 2016, and it was expected that the cannabis market would rake in over $6.7 billion from the U.S. alone in 2016.
It only gets better from here.
For starters, sales of cannabis are set to rise to $22.8 billion in the U.S. by 2020.
The graph above captures the rollicking growth rate of the market. Portfolio Wealth Global sees this as a dam bursting, but the magnitude of the moment is understated—that’s because even top hedge fund managers still don’t have a handle on whom the top dogs are, and that’s exactly the opportunity we see in building strong relationships with the “Green Rush” entrepreneurs, becoming Cannabis Innovators and we are right now watching closely one company.
Changing Face of the Legal Marijuana Industry
Donald Trump became the 45th President of the United States, and it’s still not clear how the U.S. market will shape up for the remainder of 2017, but based on what Trump has said pertaining to his pro-business beliefs and agenda, America is about to surge forward.
The ramifications of his victory are still unclear in a few respects, but when it comes to jobs, and this has already been shown by some companies already stating that they are going to remain in America (Ford and Carrier), we’re about to see serious job growth.
In regards to marijuana, no specific federal policy governs the enforcement of the U.S. Controlled Substance Act. This bodes well for the medical cannabis market.
Cannabis investing is