2 Cannabis Stocks That Could Make You Richer
Cannabis stocks rose to prominence a few years ago when Canada famously legalized the recreational use of pot. And although some of that initial excitement has died down, there is no question that the industry still presents a lucrative opportunity for long-term investors. According to some estimates, the marijuana market will expand at a compound annual growth rate of 25.4% through 2030.
Buying shares in the right companies could help investors profit from this growth. Let's look at two cannabis stocks that can deliver market-beating returns in the long run and increase investors' wealth: Jazz Pharmaceuticals (NASDAQ: JAZZ) and Innovative Industrial Properties (NYSE: IIPR).
Jazz Pharmaceuticals is a biotech company that develops cannabidiol (CBD)-based medicines, among others. Based in the U.S., the drugmaker avoids many of the legal issues that impact pot growers and retailers in the country, most notably the fact that marijuana remains illegal at the federal level. Jazz Pharmaceuticals' Epidiolex, a CBD-based therapy for a duo of rare forms of epilepsy and seizures associated with tuberous sclerosis complex, is approved by the U.S. Food and Drug Administration (FDA) and the parallel agency in Europe.
Source Fool.com
