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Canadian cannabis producers are rushing to enter the U.S. market following the passage of the Farm Bill which has legalized hemp. Hemp is a source of the popular ingredient cannabidiol (CBD).

Earlier this week, Canopy Growth Corp. announced it had received a license to process hemp from the state of New York. The company intends to invest millions to build its first extraction and processing operation outside of Canada. In addition, Aurora Cannabis told Business Insider it will unveil a plan to produce hemp-derived CBD for the U.S. markets in the next few months.

This presents a lucrative financial opportunity - Cowen analyst Vivien Azer claims the U.S. CBD market currently generates $418 million in sales and is expected to climb to $1.6 billion by 2021.

Young investors using free trading apps are also taking advantage of this opportunity. According to data tracked by Markets Insider, four of the five most-added stocks in the past week were Canadian cannabis companies.

Source: https://markets.businessinsider.com/news/stocks/weed-stocks-millennials-are-loading-up-marijuana-stocks-2019-1-1027877461

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