(Bloomberg) -- By now you know that marijuana stocks are on an incredible run. Not only have they experienced eye-watering percentage gains, but their valuations have climbed to rank among large, established companies.
Tilray, for example, has a market capitalization of over $21 billion, making it larger than Clorox. Canopy Growth Corp. has a market cap of over $12 billion, and Cronos is sits at $2.7 billion. Of course there are numerous other names (mostly listed in Canada) but right there that’s over $35 billion of market cap.
This is important to keep in mind, because according to data from Arcview Market Research/BDS Analytics, legal cannabis spending globally is only expected to hit $32 billion by 2022. So the entire worldwide legal market, by one estimate, will be smaller four years from now than the market cap of three well-known U.S.-listed companies.
©2018 Bloomberg L.P.
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