The marijuana industry is scorching hot right now, and it’s no wonder that investors are seemingly champing at the bit to get their hands on a company, or series of companies, with strong double-digit growth potential.
According to cannabis research firm ArcView, the legal marijuana market could grow by roughly 30% per year through the end of the decade. Investment firm Cowen & Co. shares a somewhat similar sentiment, forecasting growth from $6 billion in legal pot sales in 2016 to $50 billion by 2026. That’s good for a compound annual growth rate of better than 23%. You’d struggle as an investor to find an industry that could consistently grow its sales for an average of 23%+plus each year for a decade.
Source: 420 Intel – United States