Will FOMO Drive Once-Questionable Pot Stocks Through the Roof in the US? These 7 States Are Up for the Challenge

Investors used to think coming within a 10 foot bean-pole of cannabis stocks was a terrible idea. These days, as the stigma around marijuana begins to shift under the touted health benefits of CBD products and low-dose THC treatments for various serious medical conditions, investors are starting to shift to a green mindset.

Jeff Sessions’ attempt to reverse the Obama-era policy regarding state legalization terms for recreational and medical marijuana is buckling under the undeniable financial potential for marijuana stocks.

Most eyes are set on Canada as of late when it comes to cannabis stocks following the recent legalization effort for recreational marijuana. According to GMP Securities, the target market size for Canada by 2022 sits at around $6 billion in sales. This figure reflects what the American pot market looks like today and is anticipated to increase to $20 billion by 2022, according to analyst Robert Fagan. He went on to note how the public market value of the U.S. sector may rise to $50 billion which is 10 times more than what it is right now.

The enormous potential for financial gain has inevitably impacted the American government’s view on cannabis. With Trump pulling his support from Jeff Sessions’ crusade against weed, marijuana stocks have a leg up.

There are at least 7 states poised to earn an increasingly high number of dollars for marijuana stocks investors.

According to an ArcView Market Research and BDS Analytics report, the 7 states which are anticipated to make at least $1 billion in sales by 2022 are as follows:

#1: Arizona is already making profits on the medical marijuana market boosting American cannabis stocks.

Marijuana spending in the state of Arizona came out to $461 million just last year. This number is anticipated to increase to $1.2 billion in the coming 4-5 years. These figures are calculated with the expectation of the state legalizing recreational marijuana in the coming years as well. This legalization effort is not expected to take place, however, until 2021.

#2: California has connections to Canadian cannabis stocks companies and already brings in billions of dollars in marijuana sales.

Least surprising on this list is likely the state of California where marijuana spending amounted to $3 billion just last year. With 2022 as the guidepost for projections, analysts feel the market in CA will increase to $7.7 billion. Calculated into this figure is the recreational marijuana market which opened to the public near the beginning of 2018.

#3: Colorado has turned the heads of marijuana investors having made over $1 billion in marijuana sales during 2017.

Colorado raked in $1.5 billion last year which totals in both recreational and medical cannabis sales. By 2022, this number could blow up to $2.5 billion. When it comes to total output of the marijuana industry in Colorado, the figures are projected to round off to $4.6 billion by 2022. The market in Colorado is more established than the California market which lends some credibility to the gap in projections.

#4: Florida is one of two states representing the high potential for the marijuana stocks market on the East Coast.

Florida cannot boast the same billions of dollars as the first three states on this list; however, the estimated $192 million of medical marijuana purchased last year is nothing at which to turn up one’s nose. Projections for 2022 do suggest the first $1 billion will be reached with a total output of just over $3 billion.

#5: Massachusetts is the second state on the East Coast projecting large contributions to American marijuana stocks.

Though the market size rounds up to $151 million during 2017, the recreational marijuana market just launched in July of 2018. With this in mind, the anticipation for 2022 spending is $1.2 billion; total output closes in on $2.3 billion.

#6: Michigan may surprise marijuana investors when they learn the state has one of the largest medical marijuana markets in America.

Medical marijuana spending in Michigan amounted to $812 million last year. Add to the vote coming up in November of 2018 for legalization for recreational marijuana (which is likely to be approved), Michigan marijuana spending could rise to $1.4 billion with a total output of $2.6 billion by 2022.

#7: Washington state catches the interest of cannabis stock investors as both medical and recreational marijuana are permissible.

$934 million was spent last year by residents of Washington state just shy of the $1 billion marks made by California and Colorado. By 2022, analysts suspect that Washington could still rake in marijuana spending at $1.5 billion and a total output of $2.8 billion.

Keep close watch on marijuana stocks in the next year as the tide continues to turn in favor of legalization one state at a time.

Look out for those innovators sitting on the sidelines now, but, poised to jump into the burgeoning markets of 2022. For example, take a peak at Friday Night Inc. (CSE:TGIF) (OTC:TGIFF) as they expand into Las Vegas following the approval of appropriate licensing.

To learn more about marijuana stocks working their way over into the U.S. markets, read Canada Has Stateside Competition: Stocks To Watch With Strong Connections To the American Cannabis Market.