Investors have flooded into marijuana stocks in the hopes of finding huge returns as legalized cannabis spreads across North America. The opening of the Canadian recreational market gave those following the industry hopes to score their most impressive growth opportunity yet, and across the globe, a number of countries are looking at making marijuana more readily available for consumers.

The marijuana industry is absolutely firing on all cylinders this year, and investors have clearly taken notice. Our neighbor to the north, Canada, removed nine decades of recreational cannabis prohibition on Oct. 17, while two additional stateslegalized marijuana in some capacity in the U.S. during midterm elections. Beyond these major North American events, investors have also seen a slew of first-time occurrences in the weed industry in 2018.

But for as great as things have been for pot stocks, one thing is still missing: profits.

Canada's roll out of its legal marijuana market has been a political victory for the Liberal government but with shortages of cannabis for sale at retailers — almost from day one — it has been a gift to illegal sellers.

One of the aims of the legalization of recreational marijuana was to eliminate the black market in Canada. The Liberal government wanted to remove the "criminal organizations, street gangs, and gun-runners" associated with the drug, said Prime Minister Justin Trudeau during the 2015 election campaign.

Last week, WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) announced the acquisition of a license from Health Canada to sell cannabis grown at its facility in Strathroy, Ontario. Under the terms of the license, the company can now transport cannabis from Strathroy to Aylmer, Ontario where they have indoor packaging and distribution space.

With 44,000-square-feet of space already approved, and another 60,000-square-feet awaiting the okay from Health Canada, WeedMD appears well on track to reach their production goals for the new year.

If you're highly skeptical of the multibillion-dollar market caps of some of the most well-known marijuana stocks, there are other alternatives.

Two that immediately jump to mind are The Green Organic Dutchman (NASDAQOTH:TGODF) and Innovative Industrial Properties (NYSE:IIPR). The former sports a market cap of a little less than $1 billion, while the latter claims a much smaller market cap of just shy of $400 million.

Earlier this fall, Coca-Cola had reportedly stated its interest developing drinks infused with CBD, the non-psychoactive cannabinoid compound in marijuana often taken to treat conditions ranging from insomnia and anxiety to pain management.

And in the days before recreational legalization in Canada when interest in all things pot-related was reaching its peak, news broke that Coca-Cola had been in talks with Edmonton-based cannabis company Aurora Cannabis , which caused Aurora’s share price to immediately shoot up 17 per cent. The run prompted a halt in trading in ACB, while a Canadian regulator pushed Aurora into publishing a statement attesting to the fact that “no agreement, understanding or arrangement” had in fact been made with Coca-Cola.

JSE-listed beverages group Distell has agreed to distribute and market a cannabis-infused beer backed by RCL Foods CEO Miles Dally and Spar CEO Graham O’Connor.

Distell, the producer of Nederburg wines and Klipdrift brandies which has no beers in its portfolio, reached a “distribution support” agreement with Poison City Brewing last week, said the craft brewer’s co-founder, Graeme Bird.

Poison City Brewing started selling a lager containing hemp — a variety of the cannabis sativa plant that is devoid of mind-altering ingredients — in major liquor chains in September. The launch coincided with a Constitutional Court ruling that effectively decriminalised the private use of cannabis in SA.

B.C.'s reputation as Canada's pot capital is stuck in red tape, while Albertans next door roll freely from store to store.

One month into legalization, Alberta has issued nearly 70 private retail licences, while British Columbia has issued one to a public retailer and another to a private store.

Bob Kay stopped selling marijuana from his Be Kind dispensary in Kelowna after legalization on Oct. 17, as he awaited his licence to operate as a store. Kay hopes to open four stores in the Okanagan — but at the moment he's still waiting, unsure about the status of his application. "I'm extremely frustrated," said Kay, who is still selling accessories at Be Kind.

Both Aurora Cannabis (NYSE:ACB) and Hexo Corp.(NASDAQOTH:HYYDF), formerly known as Hydropothecary, have given investors a roller-coaster ride so far in 2018.

Hexo shareholders have probably enjoyed the ride more. The marijuana stock is up close to 45% after doubling earlier in the year, while Aurora Cannabis is down more than 15% year to date.

Which of these stocks is in the better position to deliver more ups than downs to investors in the future? Here's how Aurora Cannabis and Hexo stack up against each other.

Following the legalization of recreational marijuana, a growing number of Canadians are looking to experiment with cannabis for its medicinal properties. But with some doctors unwilling to prescribe the once-illicit drug, many patients are seeking clarity in the hazy world of weed by turning to nurses.

Like thousands of other Canadians, Gordon Bennett was prescribed opioids to ease his arthritis pain. But the problem, the 96-year-old says, was that they just didn’t work.

“I could hardly get out of bed,” Bennett told CTV News from his Ottawa home. “It was hell… I had pain in my back, I had pain in my neck, I had pain in my legs -- every part of my body suffered.”