Here's How to Profit From California's $3.1 Billion Cannabis Industry
California's legal cannabis market will grow 23% to $3.1 billion in 2019, according to a new report by Arcview Market Research and BDS Analytics. And by 2024, the state's legal weed industry could exceed $7 billion in annual sales.
Strict testing regulations and local bans on commercial sales of cannabis weighed on California's recreational marijuana sales in 2018. An industry shakeout occurred, and many smaller cannabis companies folded. But the remaining players are now better situated to profit from the long-term growth of California's legal pot market.
"California companies that survived the dual 'extinction events' of 2018 have emerged stronger and well-positioned to grow their market share going forward," Arcview Group CEO Troy Dayton said in a press release. "More than that, they are battle-hardened, and kicked off a merger and acquisition flurry in the first half of 2019 that will allow them to leverage their positions in California to compete across the country."
Source Fool.com
