Why This Struggling Socal Biotech Could Be The Next Big Marijuana Stock

Pardon the pun, but legal marijuana sales are growing like a weed, and marijuana stock gains aren't too far behind.

Last year we saw five states approve the use of medical cannabis, bringing the total number of legal medical cannabis states to 28, and the number of states that allow the sale of recreational marijuana to adults ages 21 and up doubled from four to eight. In recent weeks, we've also seen Mexico advance a medical marijuana bill and Canada introduce legislation that would legalize recreational pot by as early as next year. With such momentum, it's probably not shocking to find out that legal pot sales (medical and recreational combined) in North America soared 34% last year to $6.9 billion per ArcView.

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