The Blunt Truth About Marijuana Stocks
When it comes to investing, few, if any, industries have performed better over the trailing year than marijuana stocks. Over the trailing 12 months, the 13 marijuana stocks with a market cap in excess of $200 million have increased in value by an average -- an average -- of better than 300%!
Why are investors so gung-ho on pot stocks? To begin with, the public's opinion on cannabis has shifted dramatically over the past two decades. Before California became the first state to legalize medical weed back in 1995, just a quarter of respondents in Gallup's national survey wanted to see cannabis legalized nationwide. As of its 2016 poll, some 60% of survey-takers, an all-time high, wanted to see pot legalized for recreational purposes. Support for medical cannabis is even higher, often near 90%. If the public supports legalizing marijuana, the idea is that it could put pressure of state or federal legislators to allow its expansion.
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Source: Fool.com
