This post is brought to you by Invictus MD.
Back in the 1980’s, if you asked someone what they drank to wake up in the morning, you’d get a strange look and the response would likely be something along the lines of, “Coffee, what else?” Then a little business called Starbucks decided to promote the idea that premium coffee could be had in a variety of forms. Today that company is worth $22 billion, and drip coffee has given way to mochas, lattes, and the infamous Unicorn Frappuccino.
Can you imagine where you’d be now if you’d invested in Starbucks back before anyone knew what it was?
That’s where we’re at with the cannabis industry – it’s poised to explode, and now is the time to get in and thrive as an early adopter.
Let’s take a look at where cannabis is heading.
More Companies Are Looking Abroad
Legalization is in no way limited to the U.S. and Canada. Countries around the globe are embracing legal medicinal or recreational cannabis, and the industry is reacting accordingly.
Just look at Invictus MD (OTC: IVITF) (CDNX: IMH), which has seen dramatic gains thanks to its attention to the growing Canadian LP (short for "licensed producers" who are the legal producers of marijuana), as well as global cannabis market. And each time a new country goes legal, it will result in a sudden explosion of industry opportunities.
The bottom line is that the cannabis industry is expanding rapidly right before our eyes.
Legal Cannabis Sales Are Skyrocketing
Last year, legal sales clocked in at roughly $6 billion, and the Wall Street analysis firm Cowen and Company has predicted that sales will amount to as much as $50 billion over the next ten years. What’s more, Ackrell Capital projects that once legalization is embraced across the U.S., annual sales in cannabinoid-based pharmaceuticals alone will surpass $50 billion each year. That doesn’t even factor in recreational cannabis, accessories, and a host of ancillary industry services.
Simply put, cannabis is outpacing the growth of any other industry, by a long shot.
More and More People Are Getting Onboard
Polls have shown growing acceptance of cannabis legalization. Late last year, Gallup found that 60% of Americans support recreational legalization. More recently, a Quinnipiac survey showed that 93% of Americans are for legalizing medicinal cannabis, while 71% oppose a federal crackdown in recreational-legal states.
As the stigma dies off and cannabis products become more diverse and sophisticated, more and more people are becoming actual cannabis consumers. Right now 32 million American adults admit to being regular cannabis users, and Cowen and Company says that number will grow to 50 million within a decade.
The Market Is Gaining States
Canada is poised to legalize recreational use nationwide, and as support for legalized medical and recreational cannabis builds in the U.S., more and more states are falling in line.
Right now, 28 states and the District of Columbia have legalized cannabis in one form or another. While twenty of those are medicinal only, numerous states have legislation in the works that will allow for recreational use.
Today there are people who are kicking themselves because they heard about a little stock called Starbucks thirty years ago, and decided to pass. Don’t make the same mistake with cannabis.
Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Civilized is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Civilized may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two.