In case you haven't noticed, marijuana stocks have the full and undivided attention of Wall Street and investors. A projected four- to sixfold increase in worldwide cannabis sales over the next decade, coupled with triple- or quadruple-digit percentage gains in popular pot stocks over the past couple of years, is generally a good way to keep investors intrigued.
However, there's perhaps no group of investors more excited about the rise of cannabis than millennials.
In Gallup's October 2018 survey on marijuana, the national pollster found that 66% of Americans favored the idea of broad-based legalization. But when it came to the age group typically associated with millennials, support stood at a whopping 78%. Millennials have long had a more favorable view of marijuana, relative to their parents and grandparents, and they've also welcomed high-margin derivative consumption options like oils, edibles, infused beverages, vapes, concentrates, and topicals, with open arms.
Suffice it to say, millennials are the future of the cannabis industry, and their buying habits will go a long way toward dictating what products the North American weed industry will feature.
In addition to partially dictating the direction of the North American pot industry, their investments may also be signaling what marijuana stocks will stand out over the long run.
According to data from Robinhood, an investing app of 6 million users whose average age is 32, four of the top 14 holdings of its users are pot stocks. Courtesy of a top-20 holdings list provided by Robinhood to Investor's Business Daily, these cannabis stocks are…