It is no secret that the cannabis market has been growing at an alarming rate in the last few years, with analysts predicting even more growth to come in the next four years.

This increase in popularity has also caused a number of companies to enter the cannabis space in hopes of gaining a piece of the billion dollar market.

As Canadian cannabis companies increasingly look to expand in burgeoning European markets, British Columbia-based Tilray(NASDAQ:TLRY) today held a ribbon cutting ceremony for the launch of a campus in the European Union (EU).   Located in Cantanhede, Portugal, the facility just completed a successful indoor harvest that was celebrated with a tour featuring local government officials and Canadian healthcare professionals.  

The $20 million campus features research rooms, outdoor and indoor grow space, and cultivation and packaging areas for distributing medical marijuana.  

Tilray’s Chief Executive Order Brendan Kennedy commented on the ribbon cutting ceremony and facility tour: 

Money and marijuana: two green substances that investors seemingly can’t get enough of right now. Since the year began, the Horizons Marijuana Life Sciences ETF, which holds an assortment of roughly four dozen pot stocks of various weightings, has nearly tripled the performance of the broad-based S&P 500 (which is also having its best start to a year in decades). With global weed sales hitting $12.2 billion in 2018, and slated to grow 38% in 2019, according to the duo of Arcview Market Research and BDS Analytics, it’s not surprising that investors have continued to pile into pot stocks.

A push by British Columbia's health officer to decriminalize drug possession in the fight against overdoses isn't getting support from the province's solicitor general.

Dr. Bonnie Henry called on the B.C. government Wednesday to make drug possession a health issue and not a crime.

"The current criminal justice based approach framework in B.C. and in Canada create barriers to accessing prevention and treatment services," she told a news conference. "With the crisis we are dealing with in B.C., and the impact on our families and communities, I believe we can and do need to do more."

Once upon a time, Wall Street analysts wouldn't touch a marijuana stock with a 10-foot pole. Now many of the same analysts are cuddling up to quite a few pot stocks.

The latest example of Wall Street's fascination comes from Bank of America. Last week, analyst Christopher Carey initiated coverage on three marijuana stocks with positive views: Aurora Cannabis(NYSE:ACB), Canopy Growth (NYSE:CGC), and HEXO (NYSEMKT:HEXO).

Canadian police say they haven't been busting many more stoned drivers six months after legalization, but they are reminding drivers to keep cannabis out of reach.

The Canadian Press canvassed police forces across the country and most reported no significant change in the number of impaired driving charges laid, while some said it's too early to release data, and at least one reported a rise in charges.

Dozens of charges have also been laid under the new federal Cannabis Act relating to possession and trafficking, but Chief Const. Mike Serr of the Abbotsford Police Department in British Columbia said the number is "not significant at this point."

Marijuana stocks have had a particularly strong start to 2019, with the first-ever cannabis exchange-traded fund, the Horizons Marijuana Life Sciences ETF, nearly tripling up the return of the S&P 500 since Jan. 1. The legalization of recreational marijuana in Canada last year, coupled with ongoing legalizations throughout the U.S. and the world, have both Wall Street and investors seeing green.

While the province hosts only 11.6 per cent of Canada’s population, it accounted for 27.7 per cent of legal pot sales in 2018, states a study conducted by Arcview Market Research and BDS Analytics.

That discrepancy is far greater than any other province, including notoriously cannabis-friendly B.C. where revenue gleaned from legal pot sales lagged well behind its share of the national population.

“Total (Alberta) spending on legal cannabis reached $217 million in 2018, accounting for 28 per cent of total nationwide sales, more than twice its share of Canada’s population,” states the report.

“Alberta’s comparatively liberal regulatory regime suggests it will rank among the fastest-growing cannabis markets.”

Cannabis stocks perked up on Wednesday, after a tumultuous few weeks. 

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was up 0.5% to 300.79. The Horizons Marijuana Life Sciences Index ETF was up 0.8% at C$20.99 by Wednesday's close. 

Buds

CROP Infrastructure Corp (CSE:CROP) (OTC:CRXPF) shares jumped on Wednesday. 

Shares were up 1.7% at C$0.31 in Canadian trading Wednesday midday. 

The company announced Tuesday that it has completed the construction of its 57,600 square foot nursery in Nye County, Nevada and it is ready to support the company’s CBD farm operations.

Bank of America analyst, Christopher Carey, has begun coverage of the cannabis industry with a note Wednesday naming Hexo Corp. (HEXO) as the firm’s top pick in the space. B of A is the latest firm legitimizing the once illegitimate cash crop. Looking for new companies in the space, we came across one that has had quite a bit of price action recently making it a potential profit center for savvy investors.