As buying marijuana becomes easier in Canada and legal in U.S. states, so has investing in it. The list of marijuana stocks to watch, in turn, has gotten longer. But as everyone from Kathy Ireland to Martha Stewart to big beverage and tobacco companies expresses interest in cannabis and its plant relatives, is it worth the cash?Canadian marijuana companies Canopy Growth (CGC), Cronos Group (CRON), Tilray (TLRY), Aurora Cannabis (ACB) and Aphria (APHA) became the marijuana stocks to watch on U.S. exchanges in 2018. In 2019, CannTrust (CTST) joined those marijuana stocks. U.S. companies like MedMen, Acreage Holdings, Curaleaf and Green Thumb Industries went public in Canada.
As for ETFs, there's the cannabis-focused ETFMG Alternative Harvest ETF (MJ). Among the fund's top 10 holdings, as of March 2019, are the U.S.-listed marijuana stocks mentioned above, along with Hexo, which listed on the NYSE American in 2019. The fund also tracks GW Pharmaceuticals (GWPH).
Cowen & Co. estimated in 2019 that the U.S. marijuana sales could reach $80 billion by 2030 if the federal government legalized the plant. In Canada, legal recreational cannabis sales in 2019 could reach $4.34 billion, according to Deloitte. Big alcohol companies, after long fretting about how legal cannabis would affect sales, and other drink-makers are joining forces with the industry. Those companies hope people will drink to get high rather than drunk. Cannabis executives say the plant could eventually replace things like sleep aids and pain meds.
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