The legal cannabis industry is figuratively -- and literally -- budding before our eyes.

In just a few short years, it's gone from generating a few billion dollars in legal revenue each year to an industry that, by the end of the next decade, could be cranking out $50 billion to $75 billion in annual sales, according to various Wall Street estimates.

But as is common with nascent industries that are still finding their footing, hiccups are aplenty in the early going.

Cronos Group Inc (TSX:CRON)(NASDAQ:CRON) has had a mixed year so far. The first three months or so saw the firm’s share price make giant leaps forward. However, a series of bad news have brought it back to earth.

Cronos released its fourth-quarter earnings report in March, and more recently, its financial results for the first quarter of the current fiscal year. Both times, Cronos disappointed investors. However, could now be a good time to buy shares of Cronos? What is the Toronto-based pot company doing that might be attractive to investors?

Zenabis Global (TSXV:ZENA) is not a name that is usually on most marijuana investors’ radars. Then again, in this post-legalization environment, it’s easy to see how a company like Zenabis, which has yet to complete its initial cultivation ramp up, can be overlooked in lieu of a name like Aurora Cannabis, which is selling products and battling for market share.

That said, Zenabis, for the most part, was comfortable being the underdog, as it quietly ramped up capacity and inked supply agreements and LOIs with every provincial regulatory body across Canada. That is until last month, when the company announced a disastrous $100 million raise consisting of convertible debt, warrants, and equity.

The marijuana industry has been dominated quite heavily buy the companies that can put forth groundbreaking innovation to help the future of the market flow smoother than ever. Only a few companies have been able to put this level of growth into their sights, which has made the market look even brighter for the coming years. While most in the industry keep a close eye on the companies that grow the substance, it seems as though there is quite a large opportunity with the companies that offer alternative products and services to the space.

One of our consistent favorites, OrganiGram Holdings Inc (OTCMKTS:OGRMF) is back on the move and making new all-time highs. We have said this one would lead the way, and we told you it would apply and list on a major US exchange. That trend continues, with shares breaking above the $7.50 level this week. Helping to drive the action, the company just announced the recent appointment of government relations expert Cameron Bishop as the Company’s Vice President, Public Affairs and Stakeholder Relations (North America).

Marijuana stocks continue to take the investing world by storm, with most cannabis companies having seen impressive share-price advances during 2019. However, Tilray (NASDAQ:TLRY) has been among the weaker performers in the space, as investors have increasingly questioned whether the company has what it takes to sustain a leadership role in the extremely competitive marijuana industry. Tilray knows that growth is an essential component of its success, but it's had to play catch-up with some of its larger rivals.

The marijuana stock market has left nothing to be desired for investors who have been watching the industry for some time now. The market has changed quite drastically over the course of the past few years which is one of the main reasons so many people have flocked to it. One of the largest shifts has been that of the general aura surrounding the industry. Many people have become overwhelmingly comfortable with the idea of legal cannabis, which has, in turn, made the investor space one of the friendliest that we have ever seen.

Colleges are launching cannabis-centric courses to train the next generation of industry leaders.

It's that time again, folks -- and, no, I'm not talking about air-conditioner weather.

Last week (on May 15), the deadline was hit for money managers with more than $100 million in asset under management to file Form 13F with the Securities and Exchange Commission. Form 13F lists all the holdings of prominent investment funds and hedge funds as of March 31, which essentially allows Wall Street and investors a look under the hood, so to speak, to see what the top money managers have been up to during the first quarter of 2019. This inside peek can alert investors to trends within a sector or industry and can help determine overall market sentiment.

Over the next couple of years, there are few if any industries expected to rival the "green rush" in terms of sales growth potential. Following the legalization of recreational marijuana in Canada, as well as 33 U.S. states giving cannabis the OK from a medical standpoint, the sky is the limit for budding pot stocks.

Then again, the potential of the legal weed industry is no secret to Wall Street professionals or long-term investors. If you had the foresight (and luck) to invest in any of the "Big Three" marijuana stocks at the beginning of 2016 -- Canopy Growth, Aurora Cannabis, or Cronos Group -- you'd be up by somewhere between 2,000% and 7,000% today.