Whether you are a supportive advocate of legalizing marijuana or not there is no denying that the cannabis industry is certainly real and here to stay. Currently, the stock market is at an all-time high and several marijuana stocks have made market returns look pedestrian.
Would it come as a surprise if you were to find out that cannabis is the United States is recognized as the second largest cash crop? Well, believe it or not, it actually is as well as the second most precious industry next to corn and is worth over $40 billion! Several reports earlier this year also suspect that legal marijuana sales have the potential grow by at least 30% in 2018.
The marijuana industry is predicted to grow like a weed. (pun intended). All jokes aside, the Bureau of Labor Statistics (BLS) has made a projection that more than 250,000 new employment opportunities for those who are looking to get involved and this could be accomplished as early as 2020 which is far more than those expected from manufacturing! By 2024 the BLS actually thinks manufacturing jobs to decline by 814,000. Ignoring the potential growth in this industry or that it has fast become a major economic driver and job-creation force in the U.S. economy is a mistake.
Public opinion is still divided which doesn’t come as a shocker however it’s quickly evolving. A poll that was conducted by CBS News in July of 1979 showed that only 27% of those who completed a survey thought marijuana should be legal; that number by mid-2017 is now at 61%. Even with this momentum there still remains some obvious hurdles: (1) Marijuana is still illegal at the Federal level and (2) Congress has more than enough to focus on right now with healthcare and tax reform so legalization is a lower priority for now.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
