Illinois just became the eleventh state to fully legalize the adult use of cannabis.
And estimates suggest this new market could generate over $2.6 billion in annual sales.
These American “pot stock” IPOs plan to profit from this massive growth.
Last Friday, the Illinois legislature became the first ever to fully legalize adult use of cannabis and a retail market.
Illinois Gov. J.B. Pritzker is expected to sign the cannabis legislation.
All other U.S. states that have legalized cannabis have done so through voter referendums.
The bill will create an adult-use market effective Jan. 1, 2020.
Existing companies operating within Illinois will benefit most. That’s because these companies will have priority access to retail licenses.
The cannabis legislation allows each of Illinois’ 55 medical marijuana companies to apply to open a second location. That means a total of 110 stores could be selling cannabis by Jan. 1.
Marijuana Business Daily estimates that there could be 295 retail locations in the state within three years.
This cannabis legislation could create a new market worth over $2.6 billion!
Fortune magazine reports that legal cannabis in Illinois could be worth $1.7 billion to $2.6 billion every year.
Those estimates suggest that the Illinois market could be bigger than Colorado – which had sales of $1.5 billion last year.
Last year, Michigan legalized cannabis. And that expansion creates a market that could be worth $1.7 billion.
Illinois and Michigan will together create markets valued at $4.3 billion per year.
New privately held companies are looking to profit from the Illinois and Michigan recreational cannabis markets.
The expansion of the U.S. market is encouraging existing companies to grow geographically. And that means raising hundreds of millions of dollars from investors.
Many private cannabis companies are discovering that going public is the ONLY way to raise considerable amounts of capital.
That’s why 21 private cannabis companies are preparing to go public.
Now, you won’t find their shares on the NASDAQ or NYSE. Instead, America’s fastest-growing companies are preparing to go public using a Stealth Crossover IPO.
The next one is expected to start trading within 27 days. And you’ll want to access this situation on Day One.
Yours in Profits,