Cannabis stocks faced a difficult outlook Thursday, mirroring US markets as a whole.

The Marijuana Index, which tracks the cannabis sector in the US and Canada, was down 2.5% to 277.4.

Buds

MYM Nutraceuticals Inc (OTCMKTS:MYMMF) (CSE:MYM) stock is doing well Thursday thanks to a new partnership with Elite Ventures Group LLC on 120 acres of CBD-rich hemp in Nevada. Based on Elite’s prior cultivation success in similar circumstances, the parcel represents potential revenue of more than $26 million, of which MYM is entitled to 50%, less sales and processing fees. Investors liked what they heard, sending the share price up nearly 10% to $0.43 on the OTC Markets and more than 7% to $0.57 on the CSE.

Last month, on the day the cabinet approved the exporting of medicinal cannabis, attorney Yair Geva got the green light for signing a deal with a foreign company, about to be listed on NASDAQ, which intends to invest in an Israeli company, the valuation of which instantly spiked.

Since the beginning of the year, we have seen quite a bullish trend sweep through the world of marijuana stocks. Many companies have seen their values double or even triple, which is all a result of the friendly investor space on cannabis. Projections are showing that in the coming few years, marijuana is expected to grow in the billions, which means that there is a lot more opportunity waiting out there.

One of the most common places to begin investing is the industry on pure-play cannabis or those who grow the physical plant. These companies seem to be at the top of the market and continue to illustrate why they are the forefront of marijuana investing.

Weed, marijuana, pot, cannabis, loud, Mary Jane, sticky icky, green, chronic, tea… Whatever you call it, it is a growing market in the United States. Ten or fifteen years ago you would have been laughed out of a room if you brought up the idea of legalized marijuana in the U.S. In recent years though, the trend has definitely been in that direction. Medical marijuana has been around for years, but legalized recreational marijuana is fairly new. Ten states now have voted in favor of recreational marijuana, and our northern neighbor, Canada, legalized marijuana on the national level in 2018.

The past six months have been an absolute whirlwind for the marijuana industry. In October, we witnessed the industry gain the legitimacy it's sought for so long after Canada became the first industrialized country in the world to legalize recreational cannabis. Then, just weeks later, the U.S. midterm elections increased the number of states to have given the green light to medical cannabis to 33. A month later, President Trump signed the Farm Bill into law, legalizing hemp and hemp-derived cannabidiol products. At seemingly every turn, the outlook for the cannabis industry has been improving.

Tilray’s (TLRY) stock made strong gains early Wednesday after the Canadian marijuana giant said its European arm had a very successful cannabis harvest. A statement from the company said Tilray Portugal Unipessoal completed the harvest of medical cannabis at its cultivation site in Portugal. The advanced facility, which has been developed with investments of more than EUR 20 million, also functions as a base for the company’s clinical research programs in Europe.

Tilray is a rare stock that received the top rating from almost all the analysts covering it. The consensus recommendation has been strong buy for quite some time, making the stock one of the most sought after investment options. The average price target is $90.

Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV:N.V) (M5BQ.F) (NXTTF) today announced that it has entered into a share purchase agreement (the “Agreement”) to acquire 49% of the issued and outstanding shares of Calgary, AB based Choklat Inc. for $1.5 million in cash consideration. As part of the acquisition, Namaste will be appointing a member to the Board of Choklat.

Choklat is a premium chocolate manufacturer with existing sales through its online eCommerce site and through a network of distributors across Canada. Choklat has recently entered into a supply relationship with Sobeys and already has product in 25 stores in Alberta with a goal to roll out in Western Canada and beyond in the coming months.

Traffic stats don't lie: among investment categories, few have the draw of legal marijuana. And within this broad descriptor, companies specializing in cannabidiol, or CBD, have generated significant buzz. But what exactly is this three-letter acronym, and how can CBD stocks boost your returns?

Let's start with basic definitions. Cannabidiol represents one of several cannabinoids, or chemical compounds found in the cannabis sativa plant. But unlike the most famous cannabinoid tetrahydrocannabinol (THC), CBD does not lever any psychoactive effect. In other words, users can enjoy this compound's benefits without getting high.

Canopy Growth (TSX:WEED)(NYSE:CGC) is the unquestioned cannabis champion of Ontario, yet there are a few other Ontario companies that could challenge for second place. Aleafia Health (TSX:ALEF), with its recent acquisition of Emblem Cannabis, is one company that could potentially challenge for a top-tier position among Ontario LPs.

To be blunt, marijuana stocks are on fire. Following the passage of the Cannabis Act in Canada this past June, and the official kickoff of recreational weed sales on Oct. 17, 2018, the cannabis industry is now viewed as a legitimate business model that's here to stay. With sales projected to be in the tens of billions of dollars globally within the next decade, it's simply a matter of trying to figure out where those dollars might end up. As a result, pot stocks throughout the industry have soared.