If you think you missed the boat on cannabis …
If you didn’t jump on the early “penny pot stocks” five or 10 years ago when they were the darlings of the investment world …
If you didn’t enjoy the 100% … 500% … even 1,000% growth in value that some (but not all!) of those stocks returned …
You may be kicking yourself today.
But I’m here to tell you the biggest opportunities in cannabis are still ahead of us.
Why?
Because pot has always been illegal at the federal level in the United States.
Which has held back the entire marijuana industry from the very beginning.
Until now, investing in marijuana has been like driving your car with the parking brake on.
But all of that is about to change.
I’m not talking about the fact that President Joe Biden is in the White House. He’s dragging his feet on legalization, even as Senate Majority Leader Chuck Schumer pushes for it.
No, there’s another reason that we are going to see cannabis legalized in one state after another — a wave that will finally force the federal government to follow suit.
And that reason is money — tax dollars.
Those states that have legalized marijuana have seen tax revenue grow and grow.
Heck, Colorado recently reported that the state took in $387 million in cannabis taxes in 2020. That’s up 473% from 2014!
And across America, states that have legalized marijuana for adult use have collectively generated nearly $8 billion in tax revenue from cannabis since legal sales first started in 2014.
States can see the prize dangling in front of them. That’s why Connecticut, New Mexico, New York, Virginia and New Jersey all legalized recreational marijuana this year.
Even without recreational marijuana, sales are booming in some states.
For example, Florida only has medical marijuana, not recreational. Still, it had the third biggest cannabis sales of any state in the nation. Florida doesn’t tax medical marijuana. According to the Tax Foundation, legalizing recreational marijuana and taxing it like other states could give Florida a whopping $448 million a year.
Cannabis also provides 31,444 jobs in Florida. That’s a bonus for any state considering legalization. Jobs and tax revenue are a winning combination.
Legalization — or rather, the anticipation of it — will open the door to the next stage of the cannabis bull market. And it’s likely coming sooner than later.
A whopping 68% of Americans are in favor of legalizing cannabis for either medical or recreational use.
Plus, an online Harris Poll sponsored by Curaleaf Holdings, Inc. (OTCQX: CURLF) found that 45% of cannabis consumers age 21 and up have replaced or reduced their alcohol consumption with marijuana since the beginning of the coronavirus pandemic.
No wonder beverage companies, like the ones below, are investing in cannabis:
• Constellation Brands, Inc. (NYSE: STZ), which makes Corona and Modelo beers, acquired a 6% stake in Canada’s largest cannabis producer, Canopy Growth Corp. (Nasdaq: CGC). Their aim is to collaborate on and market cannabis-based beverages.
• Heineken N.V. (OTCQX: HEINY) has launched “Hi-Fi Hops,” which is available at select California cannabis dispensaries.
• Molson Coors Beverage Co. (NYSE: TAP) partnered with Canadian cannabis company Hexo Corp. (NYSE: HEXO) on a joint venture, Truss Beverage, which is launching a line of cannabis-infused beverages across Canada.
These beverage companies are a nice backdoor into the marijuana market.
And that’s why the opportunity for investors in marijuana is actually greater now than it was five years ago.
By 2024, I predict the retail sales of cannabis in the U.S. will get close to $40 billion a year.
So here’s some good news if you missed the boat five years ago:
The boat is not only coming back for you …
It’s a much bigger and faster boat than it was before!
But not all cannabis stocks will go higher.
Some will go down.
Some will implode.
Some may seem to have all the right ingredients, and they still turn out to be a steaming bowl of nothing.
That’s why I separate the wheat from the chaff in my new report.
And it’s free to you as a member of Wealth Megatrends.
All the best,
Sean
