>Cannabis is big news these days. On the political front, Canada’s new government has pledged to legalize marijuana, nationwide. In the U.S., legalization (either for full recreational use or medicinal use) is pushing forward in leaps and bounds, with several more states approving full or partial legalization in the most recent U.S. election.
In equity markets, legal cannabis growers, distributors, and producers of related products/accessories are the newest market darlings. Investors rabidly soak up the latest news releases from these companies; share prices are rising, and market caps swelling.
While legal cannabis companies are rightfully attracting increasing amounts of attention, arguably there is another cannabis story with at least as much long-term importance, and perhaps more: the hemp industry. Archaic criminal laws still prohibit the widespread use of hemp as clothing, despite hemp’s clearly superior properties as clothing fiber, not to mention there’s the plants 50,000 other practical uses and that number is still growing. However, with less regulatory hurdles, hemp-as-food is another exciting cannabis story which appears ready to take off.