Marijuana Forecast: More Insane Gains In 2018
By Sean McCloskey | December 28, 2017 |

Few industries have packed the potent gains that pot has shown over the past year.

The majority of pot stocks have seen double- and triple-digit increases from their early-year valuations.

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The phrase "marijuana millionaire" is becoming more and more common as people just like you turn small stakes into fortunes.

2017 has been great for pot investors, but 2018 is only going to get better.

Growing public sentiment in favor of continued marijuana legalization, heavy investment from the financial world's biggest names and new legislation allowing for new markets here and abroad...

It's a perfect storm for big money in 2018.

A Quick Look Back
2017 was a banner year for the pot industry.

Nevada went fully legal, and to date 29 states now have legalized pot in some form or another.

Medical marijuana and now recreational pot have been huge drivers for this year's market success.

Looking at the North American Marijuana Index year-to-date performance, pot plays are up a whopping 57.25%.

The North American Marijuana Index tracks the top cannabis stocks operating in the United States and Canada.

The index is equal-weighted and rebalanced quarterly and is a great indicator of where the market stands day to day.

Canada Shares Are Skyrocketing
Canada, a medical marijuana early adopter, plans on having recreational weed fully legal next summer.

This represents an enormous market opening up in the months ahead.

Canada’s House of Commons passed Bill C-45 by a vote of 200-82.

The bill would legalize marijuana for recreational purposes, keeping Canada on track for the federal government's plan to legalize cannabis use by next summer.

In response investors have been heavily dumping money into Canadian pot firms, reaping massive gains along the way. Look at the year-to-date performance so far.

Once Canada goes fully legal in July this index could easily double.

U.S. Pot Consolidates for Its Next Run
Meanwhile in the States, the pot market is currently recovering from a midyear correction.

Huge gains were everywhere in the early months of the year as U.S. pot markets matured and others opened.

But by early summer U.S. pot found itself in quite a correction, recovering only starting in late November.

Right now the U.S. is in the early stages of recovering from the big summer dip.

But good news is on the horizon.

California is ready to welcome legal recreational pot on Jan. 1 -- just 3 days from now.

When this happens U.S. pot stocks, like they did when Nevada went full legal, will start ripping higher in no time at all.

Buy the dips and ride the rips as they say.

Buy as heavy as you can in U.S. pot and ride the California rip to huge gains in 2018.

This article originally appeared on The Daily Reckoning.

 

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