The Green Organic Dutchman Holdings (OTC: TGODF) reported second-quarter results on Aug. 13.

The Canada-based cannabis company's revenue rose 20% sequentially to 2.9 million Canadian dollars. Most of its sales were generated by its European operations, as the company just recently launched its Grower's Circle -- a small test of its medical marijuana distribution capabilities in Canada.

Additionally, The Green Organic Dutchman said that the construction of its Hamilton cultivation site was nearly finished.

Statistics Canada says Canadian men are almost twice as likely to use cannabis as women.

New data from the National Cannabis Survey today shows 16 per cent of Canadians over 15 years old report using pot in April, May or June.

That's down slightly from 17.5 per cent in the first three months of the year.

Almost five million Canadians consumed cannabis in some form during the three month period. One quarter of men, and 16 per cent of women, reported they plan to consume it in the next three months.

The survey suggests men are more likely to use cannabis daily or weekly than women, and are also more likely to use it for non-medicinal purposes.

About four in 10 marijuana users say they bought cannabis illegally.

Among marijuana stocks, very few have achieved profitability. But sooner or later, every company needs to reach that milestone.

That sounds obvious, like “Business 101.” In fact, it’s one of the most basic requirements for a stock to trade on the “Big Board,” the New York Stock Exchange (NYSE)… and also for the Nasdaq, for that matter.

And yet, in the cannabis industry, Charlotte’s Web (OTCMKTS:CWBHF) is one of the few that can deliver positive earnings! That’s just one reason I want to put it on your radar today.

Charlotte’s Web was one of the original hemp-cannabidiol (CBD) companies, and perhaps the biggest success story of Colorado’s legal cannabis boom.

Canopy Growth and Aurora Cannabis (TSX:ACB) are two major players in the weed industry with a market cap of $23 billion and $12 billion, respectively. The companies have retained those positions for several months, despite uncertainty in the sector.

After Canopy Growth and Aurora Cannabis, Aphria (TSX:APHA) comes in lower with a modest $2 billion valuation. While Aphria might not have the kind of pull to overtake Canopy Growth for the top spot in the near future, a turn of events might present the company with the opportunity to overtake Aurora Cannabis for second position.

A breathalyzer that can detect both alcohol and cannabis has caught the attention of Y Combinator, a California-based start-up accelerator that has previously worked with Reddit, Dropbox and Airbnb.

While there are a number of high-growth industries for investors to choose from, it's the "green rush" of marijuana that continues to attract the bulk of the attention on Wall Street. With double-digit growth potential per year over the next decade and some Wall Street firms calling for as much as $200 billion in annual worldwide sales, it's easy to see how cannabis could be the leading growth industry in the years to come.

For a long time, I have been down on cannabis stocks. I have looked only to their poor earnings, the hype surrounding them, and the recreational aspect of the products.

I am still not convinced that they will be able to be competitive on a recreational level due to the ease with which the product can be replicated by individuals and smaller companies as well as the moral implications of selling narcotics.

But there is one aspect of cannabis which has recently gained legitimacy in my mind, and that is the utilitarian value of their medical effects.

My relatively recent turnaround in this department has come as a result of a close friend that had developed an illness that was not responding well to conventional treatments.

Not long ago, Aurora Cannabis (NYSE:ACB) ranked as the darling of Wall Street analysts. But analysts can be quite fickle. Bank of America Merrill Lynch's Christopher Carey downgraded Aurora from buy to neutral in July. Now another top analyst has expressed a lack of confidence in Aurora's prospects.

Earlier this week, Piper Jaffray initiated coverage on Aurora with a neutral rating. However, the investment firm hasn't given up on the cannabis sector. Although Piper Jaffray doesn't recommend buying Aurora Cannabis, there are five pot stocks the firm does like right now.

Biome Grow Inc. (“Biome” or the “Company”) (CSE:BIO) (6OTA.F) (OTCQB: BIOIF) is pleased to announce that it has been licensed for the retail sale of cannabis in the province of Manitoba. This announcement comes on the back of recent approvals allowing Biome to distribute cannabis products in Saskatchewan and New Brunswick.

With this announcement, Biome is licensed to distribute cannabis in five provinces: Newfoundland and Labrador, Nova Scotia, Saskatchewan, New Brunswick and now Manitoba. Select strains of dried flower and pre-rolls will be supplied to private retailers all across Manitoba from Highland Grow, Biome’s wholly-owned cultivation facility in Antigonish, Nova Scotia.

There's no way to possibly buy every pot stock on the market; there are just too many of them to choose from. Therefore, you'll need to narrow your focus, and Canada is truly the epicenter of activity when it comes to legalized cannabis. While everyone else is focusing on well-known brands like Canopy Growth (NYSE: CGC ) and Aurora Cannabis  (NYSE: ACB ), I believe that Hexo  (NYSE: HEXO ) stock is a terrific way to build a position in Canadian cannabis.