Published on 22 Feb 2024 on Insider Monkey via Yahoo Finance

12 Best Marijuana Stocks To Invest In

In this article, we discuss 12 best marijuana stocks to invest in. If you want to skip our discussion on the cannabis market, head over to 5 Best Marijuana Stocks To Invest In. 

In 2024, the global cannabis market is poised for substantial growth due to emerging legal markets, innovative products, and technological advancements. The US cannabis market is expected to significantly expand, with projected retail sales reaching $53.5 billion by 2027, driven by the growth in adult-use cannabis. States like New York are contributing to this growth by finalizing details for approved cannabis programs. The trend towards personalized cannabis products is expected to rise as consumers become more educated, leading companies to tailor products to individual needs. While pre-rolls are projected to remain popular, there is a growing expectation that consumers will increasingly favor craft cannabis products and artisanal flower, despite the enduring demand for low-cost and convenient options.

In 2024, the National Cannabis Industry Association predicts the legalization of recreational cannabis in several additional states, but federal legalization remains uncertain, evidenced by the challenges facing the SAFER Banking Act in Congress. The SAFE Banking Act continues to be a significant issue, with potential developments expected in 2024. Potential actions by President Biden may reshape the industry's regulatory framework, impacting financial reporting and taxation. States such as Maryland, and potentially Pennsylvania and Ohio, could influence regional market dynamics and tax structures. In  November 2023, CNBC quoted Jaret Seiberg, a policy analyst at TD Cowen, who commented: