The legal marijuana industry is expanding at an incredible pace. It's no secret that the demand is there, given the tens of billions of dollars in global sales that have been ongoing for decades in the black market.
However, we're beginning to see these sales shift to legal channels in Canada and select U.S. states. In 2018, legal global marijuana sales totaled $10.9 billion. But in 10 years, worldwide sales may have risen 18-fold, according to the most aggressive Wall Street projection.
Maybe the biggest question mark for businesses in the cannabis industry is how to finance their expansions. Thankfully, a few brand-name pot stocks have landed major equity investments and are sitting on a veritable war chest of cash.