Marijuana’s hip image is changing into something altogether more pedestrian thanks to its rising profile in medicine. Extracts of cannabis have been recommended for anorexia, pain relief and epilepsy. As the substance swaps the streets for the pharmacy shelves, some investors spy an opportunity.
In 2016 the medical marijuana market posted revenues of $6.3 billion, up from 30% the previous year. In 2017, two marijuana-focused ETFs were launched comprising stocks such as British firm GW Pharmaceuticals and Canada-based medical cannabis group Canopy Growth Corporation.