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U.S. elections: several states legalize recreational cannabis, a market worth more than $10 billion

In 2018, the cannabis industry represented more than $10 billion and could reach $30 billion in 2026 according to a projection by New Frontier Data, a firm of analysis and research on the cannabis industry, or even $70 billion according to Grand View Research. It would then be equivalent to the tobacco business across the Atlantic. Several American states might now legalize cannabis.

2 Best Cannabis Stocks to Own in 2020

1. Aphria

Trading at merely 3.5 times sales and 1.1 times book value, it may be surprising that to see that Aphria's (NASDAQ:APHA) valuation is at rock bottom despite being the biggest marijuana company in Canada in terms of gross revenue. The company controls 14% of Canada's cannabis market share, which is 20% more than competitor Canopy Growth Corp (NYSE:CGC).

Cramer Weighs In On Cannabis Sector Selloff

Cannabis stocks were mostly trading lower Wednesday and for good reason: a "blue wave" result from Tuesday's presidential election isn't going to transpire, CNBC's Jim Cramer said on "Squawk on the Street."

What Happened: Heading into Tuesday's election, a major Democratic victory across multiple branches of the government was considered to be a major catalyst for cannabis stocks.

"There was a belief that a blue wave would immediately mean that everybody can start smoking recreationally and drinking," Cramer said.

Hackers steal information on cannabis growers

Hackers exposed roughly 3.4 million user records, together with usernames, electronic mail addresses and IP addresses, of marijuana cultivators at GrowDiaries.com, a web-based neighborhood the place growers weblog about their crops and may promote seeds to different growers.

The safety breach occurred Sept. 22 and was reportedly found Oct. 10 by Volodymyr Diachenko, a database safety researcher.

The Cannabis Industry’s Packaging Problem

One of legal cannabis’s greatest selling points is an obvious one: It’s a plant! Smokable cannabis flower, in particular, has the shortest connection to its original agricultural state. It’s simply dried and cured buds, plucked straight from the original plant.

For folks looking for natural relief from a variety of symptoms, or casual consumers looking to kick back and relax, it’s hard to find a remedy as closely connected to the earth as cannabis.

And yet the rise of legal cannabis has also introduced a growing environmental cost:

How Canadian cannabis firms lost millions on bad greenhouse deals

When Aurora Cannabis acquired greenhouse design firm Larssen in late 2017, it was a shot across the bow of rival Canadian marijuana producers.

In short, the Alberta-based producer was signaling to the industry it intended to win the “funded capacity” race at any cost – even if that meant buying the company designing your greenhouse.