In the years to come, few industries will offer the growth potential presented by the ongoing legalization of marijuana. Following Canada's green-lighting of recreational cannabis last year, and the steady legalization of pot at the state level in the United States, sales for cannabis soared to $10.9 billion worldwide in 2018. But by the end of the upcoming decade, they could near $200 billion a year, according to investment firm Stifel. That's a compound annual growth rate of more than 27% through 2030.
Despite cannabis being a nascent industry, the potential for incredible returns isn't lost on Wall Street. In fact, professional money managers have been embracing the green rush, as evidenced by 13F filings from mid-August.
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