The cannabis industry is thriving. Very rightly so! It has induced a positive vibe in the state and is continuously enhancing the health of the patients through the medicinal benefits. The popularity of cannabis comes with the negative side too.
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A new report from Archie Market Research says retail cannabis sales will jump 33% over 2016's totals to hit $10 billion this year. That's a faster pace than the group had previously predicted. Researchers say next year's numbers could increase by an even greater percentage.
Few if any industries are growing at a quicker and more consistent pace in the U.S. than marijuana. A report released earlier this year by Marijuana Business Daily entitled "Marijuana Business Factbook 2017" found that the U.S. legal-weed market is expected to grow by 45% in 2018, and an aggregate of 300% between 2016 and 2021. If these projections are accurate, we could be talking about a $17 billion market by 2021. With growth like this, it's no wonder why marijuana stocks have gone through the roof in recent years.