Cannabis Stocks to Watch in October — and Into 2019

Tomorrow, Wednesday, Oct. 17, Canada will become the first industrialized county in the world where marijuana is legal for adult recreational use — and only the second country, along with Uruguay, where such use is legal.

Not only does this open up a huge market — estimated at $5 billion per year on top of medical marijuana sales — it also has the potential to help speed up legalization on the federal level in the United States and other countries. In the U.S., 30 states have broadly legalized cannabis for medical use, while nine states and Washington, D.C., have legalized it for recreational use.

Marijuana stocks have largely been flying high in advance of this historic event, though most are somewhat off their recent highs. While investors can expect extreme volatility to continue, there are…

bound to emerge some long-term winners in this space. Worldwide spending on cannabis is projected to rise from $9.5 billion in 2017 to $32 billion by 2022, according to ArcView Market Research and BDS Analytics. That’s a torrid 27.5% compound annual growth rate.

If you’re interested in marijuana stocks, below are two charts that should help you watch this space, as well as some specific stocks to focus on…

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