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How investors can separate the winners from the losers in the marijuana industry

(This story was originally published April 17.)

Even though marijuana is still illegal on a federal level, companies already are profiting from legal medical weed. And many are positioning themselves for the pending explosion of demand from the likely legalization for recreational use.

Without getting into a debate over what should be legal and what might be harmful, there is no denying that the ball has begun to roll. Support for legalization is now up to 60% in the U.S., according to an October 2016 Gallup poll.

We can see this in the stock market as well. Earlier this month, the first exchange traded fund that tracks stocks in the legal medical marijuana industry began trading on the Toronto Stock Exchange.

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