Marijuana stocks have become very popular as legalization sweeps the globe. If you’re seeking a growth investment with long-term profit potential, consider owning marijuana stocks. You’ll be staking your claim in a market that’s been around for many years, though the marijuana stock market history is really still in its early stages. With some due diligence and patience, you’ll find that the outlook for cannabis stocks is “bullish,” as investors like to say. By “bullish,” they mean that the outlook is bright, and the data suggests strong long-term growth in marijuana stocks. However, you don’t just want to buy cannabis stocks randomly; as with any type of investing, you need to understand what you’re buying. There’s an old saying, “Know what you own,” and that’s definitely true for marijuana stocks.
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While cannabis has been consumed for healing and recreational purposes for many generations, investing in cannabis companies wasn’t always easy to do. A tiny company called Medical Marijuana Inc. (OTC:MJNA) broke the mold when it went public in March of 2009. Suddenly, North America was introduced to medical marijuana stocks and marijuana penny stocks in particular. By “marijuana penny stocks,” we mean very inexpensive stocks that cost less than $5 per share.
This was a milestone in the marijuana stock market history. Now the floodgates were open, and more cannabis companies started “going public,” meaning that they decided to allow anyone with a brokerage account to buy their stock shares.
What’s great about owning stock shares is that you’re effectively holding a little piece of a company to participate in the company’s growth over time. Arcview Market Research and BDS Analytics estimated that global cannabis sales will exceed $40 billion by 2024, so owning marijuana stocks means you’re investing in a high-growth market.
Cannabis Stocks in the U.S. and Canada
After Medical Marijuana Inc. went public with its stock offering, other North American cannabis companies followed. In the United States, there were Hemp, Inc. (OTC:HEMP), Terra Tech Corp. (OTC:TRTC), and Cannabis Sativa, Inc. (OTC:CBDS). At the time of this writing, those all happen to be marijuana penny stocks, so they’re all easily affordable to most investors.
Of course, we can’t ignore the wide variety of Canadian marijuana stocks. Among the earliest and biggest competitors in the Canadian cannabis market are Canopy Growth Corp. (TSX:WEED, NYSE:CGC), Aurora Cannabis Inc. (TSX:ACB, NYSE:ACB), Aphria Inc. (TSX:APHA, NASDAQ:APHA), Tilray, Inc. (a Canadian company but it only trades under the U.S. ticker symbol NASDAQ:TLRY), and OrganiGram Holdings Inc. (TSX:OGI, NASDAQ:OGI).
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