This is individual research and does not constitute investment advice.
It all began in the 1970s in California at San Rafael High School.
Five friends, dubbed “the Waldos,” embarked on a Goonies-like treasure hunt (complete with map). They set off on their adventure once a week after football practice at 4:20 p.m.
In the halls, they’d remind each other of their plans with the phrase “420.”
But instead of searching for One-Eyed Willy’s treasure ship like the Goon Dock teens did, the Waldos were on the hunt for a legendary abandoned cannabis crop planted by a Coast Guard member.
Unlike the Goonies, the Waldos never found this mythical source.
But “420” became their code word for smoking weed.
And it helped ignite a movement.
One of the Waldos’ older brothers was good friends with Grateful Dead bassist Phil Lesh, and his father managed real estate for the band. This gave them unprecedented access to the counterculture icons.
The Waldos used their code word backstage. And it caught on.
By the 1990s, it had taken on a life of its own.
In 1994’s cult classic Pulp Fiction, all the clocks in the movie were set to 4:20.
In 2003, California voters approved medical marijuana legislation SB 420… a very purposeful bill designation.
Today, 4/20 – celebrated on April 20 for obvious reasons – is a global event.
It’s part holiday, part act of civil disobedience.
Though this year specifically, it’s part celebration.
That’s because currently 33 states and the District of Columbia have legalized medical marijuana. And another 10 states have legalized adult-use.
On top of that, the industry is not only booming… but being increasingly legitimized.
Merely a handful of years ago, it was unthinkable that a pot stock would be trading on a major American exchange.
But today, there’s Aphria (NYSE: APHA), Aurora Cannabis (NYSE: ACB), CannTrust Holdings (NYSE: CTST), Canopy Growth Corp. (NYSE: CGC), Cronos Group (Nasdaq: CRON), HEXO Corp. (NYSE: HEXO), Tilray (Nasdaq: TLRY), Village Farms International (Nasdaq: VFF) and more. Each month the numbers grow.
And the industry is surging, not just here in the U.S. but globally. In fact, some forecasts are for worldwide cannabis sales to top $500 billion.
I personally believe it’ll soar past that number once CBD, hemp, infused beverages and cannabis-derived medicines are factored in.
So let’s take a look at what trends to look for on this day…
There are plenty of Canadian producers that have reason to cheer this 4/20.
But don’t forget that this will be a big day for U.S. companies like Acreage Holdings (OTC: ACRGF), Curaleaf Holdings (OTC: CURLF), Cresco Labs (OTC: CRLBF), MedMen Enterprises (OTC: MMNFF), Planet 13 Holdings (OTC: PLNHF) and others.
4/20 is no longer a day for just “stoners.” (And I believe the term “stoner” should be removed from our vocabulary altogether.)
Today is a day for advocates and patients with severe ailments that can be treated by cannabis to celebrate.
It’s also a special time for investors to applaud the changing tide that is bringing a new industry to life, as well as the opportunity for life-changing profits.
As each 4/20 comes and goes, the outlook for the cannabis sector gets brighter – not hazier. And I’m not just talking about the recreational market, but the all-important medical one too.
That’s something we can all celebrate!
Here’s to high returns,
Source: Energy & Resources Digest