February 2 was Graham Nash’s 80th birthday. Nash has always been one of my favorite musicians. He’s not only talented, but also thoughtful and articulate. Let’s see what one of the founding members of Crosby, Stills, Nash and Young (CSNY) recently had to say about marijuana:

“In the last couple of years with The Hollies, I’d met David [Crosby] and Stephen [Stills], and I was smoking dope, and I became more introspective. I began to realize that I’d been trained by my experience in The Hollies to write hooks and melodies that you can’t forget if you’ve heard them once. When I joined David and Stephen and Neil [Young] and Joni [Mitchell], I realized there was more to say…my songwriting changed dramatically.”

More and more ordinary people are discovering the power of the herb. Marijuana is increasingly integrated into our daily lives, as it becomes more popular among all strata of society, from songwriters to corporate executives, from teenagers to the elderly.

Americans are more likely now than at any point over the past 50 years to support the legalization of marijuana. According to the most recent marijuana poll conducted by Gallup, more than two in three Americans (68%) support legalizing pot, a record level of approval.

Gallup first measured the public’s views of marijuana legalization in 1969, the year that Nash and his newly formed super-group CSNY performed at Woodstock. Back then, only 12% of Americans supported legalization.

Watch This Video: The Weekly Weed Report

According to New Frontier, global legal sales of cannabis that’s high in tetrahydrocannabinol (THC) totaled $23.7 billion in 2020, with the U.S. alone accounting for $20.3 billion. Sales in currently legal markets are forecast to exceed $50 billion by 2025.

New Frontier states: “Product innovation is improving the convenience, discretion, quality and consistency of legal market products, creating a myriad of new ways for consumers to integrate cannabis into their lifestyles.”

Take a look at the following chart, published February 1:

Source: New Frontier Data

As you can see from the above chart, marijuana edibles (candies, pastries, gummies, etc.) and consumer products infused with cannabidiol (CBD) are increasingly popular with consumers.

Cannabis contains more than 100 biologically active chemical compounds, known as cannabinoids. The most commonly known cannabinoids are THC, which produces the “high,” and CBD.

CBD accounts for up to 40% of the cannabis plant’s extract. Unlike its cousin THC, CBD doesn’t give users a buzz. Sales of CBD are fueled by claims (some of them exaggerated) that it can reap a bevy of benefits, such as reducing pain, calming anxiety, and enhancing mental focus.

The combination of cannabis legalization and pandemic-induced stress has made the last two years very favorable for edibles and CBD products. Major global consumer food and beverage companies are aggressively launching branded CBD products; a simple trip to your local grocery store or pharmacy can confirm the trend.

That’s why, if you’re looking to target a promising sub-sector of the cannabis industry, consider companies involved with producing and marketing CBD. The compound is becoming a familiar household item and political trends are paving the way for its widespread acceptance.

Marijuana legalization on the state level continues to proceed at a rapid pace, but admittedly, efforts to lift the federal ban on pot have stalled in Congress, as the two political parties lapse into even worse feuding ahead of the 2022 midterms. But as Graham Nash and his CSNY cohorts once sang: “it appears to be a long time before the dawn.” For marijuana, that dawn is inevitably on its way.

Editor’s Note: The developments I’ve just described underscore the appeal of marijuana companies as investments. Every portfolio deserves exposure to the exploding profits in cannabis.

But don’t make the mistake of indiscriminately jumping into the sector. You need to be selective and conduct careful due diligence.

The good news is, we’ve done the homework for you. For our latest report on the best investment opportunities in cannabis, click here.

John Persinos is the editor-in-chief of Marijuana Investing Daily. You can reach him at: mailbag@investingdaily.com.

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