It's no secret that legal cannabis has the potential to grow into a big-money industry. After more than tripling sales over the previous four years to $10.9 billion, the State of the Legal Cannabis Markets report from Arcview Market Research and BDS Analytics believes a quadrupling in worldwide weed sales to $40 billion could be on tap by 2024.
With such impressive global growth forecast by Wall Street and analysts, it should come as no surprise that Canadian and U.S. marijuana stocks have been spending big bucks to get their piece of the pie.
Unfortunately, opening retail locations, bringing cultivation and processing facilities online, and setting up international infrastructure, isn't cheap, and cannabis companies have found this out firsthand over the past couple of years.