Last week, I told readers about the newest release of our annual report called "THE LIST" that identifies seven game-changing stocks for this year and beyond.
Today, I'd like to tell you about one of our stock picks -- and how it could deliver early investors a killing for their portfolio...
I'm talking about the "Marijuana Revolution."
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No matter where you stand on the matter politically, nobody can deny the profits that this once prohibited commodity has generated -- and that it's poised to grow by leaps and bounds.
The Marijuana Revolution resembles the dot-com era in a way, except the growth could be even larger and faster.
Marijuana sales grew by an unprecedented 30% in 2016 to $6.7 billion, and they are expected to top 20.2 billion by 2021 assuming a compound annual growth rate of 25%.
What's even more staggering is that these numbers represent an industry that’s only in its infancy.
Investors are smart to note that such a young market does not come without risk. Like the California gold rush, or the dot-com era for that matter, many entrepreneurs will try to strike it rich and fail.
As more and more states legalize marijuana, either for medical or recreational use, companies are clamoring to make what they see as a fast buck. We predict that many of these fly-by-night operators will spend more time in bankruptcy court than on easy street.
Don't get us wrong. We believe the marijuana boom is real. We just think there are smarter and safer ways to profit than investing in small producers.
Still, it's hard to ignore the earnings potential and powerful returns for investors already being realized. The trick is finding which companies have the right mix of risk and reward for you.
The Safe Bet: Picks And Shovels
We understand if not everyone is comfortable with investing in marijuana. So if you have reservations about profiting from pot, we've found a relevant play that has no direct involvement in the drug business. In fact, we like to think of it as the perfect side-play on the marijuana boom.
Let me explain...
One tried-and-true way to invest in a major trend without taking on a lot of risk is to simply look at the complementary businesses that provide goods to the key sector players. As the saying goes: "When there's a gold rush, you want to sell picks and shovels."
That's why we see an excellent opportunity with Scott's Miracle-Gro Company (NYSE: SMG). Think of it as an auxiliary way to invest in the Marijuana Revolution.
It is the world's largest marketer of branded consumer lawn and garden products. The company has been around for decades -- long before anyone was legally cultivating marijuana. But in the past few years, it's become essential to many pot growing outfits, and the company has made a large effort to increase its offerings to the industry.
It's become a leader in hydroponics, a way to grow plants without soil, using water treated with minerals and nutrients instead. This method has become standard practice in the marijuana industry, and Scotts Miracle-Gro has quietly acquired some of the leading hydroponics providers around the world.
If that weren't enough, the company has even developed specialized fertilizers and other products, showing them off at trade shows in a bid to corporatize the marijuana growing business. Thanks to these efforts, shares have more than doubled in the last five years. But as more states move towards legalization, we think this is the perfect way for investors to have it all: own a recognized brand, capitalize on the growth of the marijuana business, and feel at ease with the risk and ethical questions some might have with this space.
An Even Better Pick
Now, as much as we like SMG as an investment play on the Marijuana Revolution, there's a stock with more upside that we like even better if you want to invest in a pure play company...
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Like I said, based on our research, we've found a lot of "pretenders" to the crown in this space. But one Canadian company stands above the rest, and we believe it has the right attributes to profit immensely. And that's why we picked it for THE LIST.
As some of you may know, the Canadian government has approved a bill that will completely legalize weed this summer. And our favorite pick has been given one of the only government-approved permits to legally operate in this growing business.
The company sells its products through its online store but also engages in wholesale shipping of plants and product to other licensed producers. It has also started to expand internationally through acquisitions in Australia and the United States.
With one of the largest cannabis greenhouses in the world, and a minimal number of competitors, this company is uniquely positioned to profit from the Marijuana Revolution.
Simply put, we think this stock could skyrocket once retail sales are legalized.
Now, I can't reveal the name of this pure-play stock pick here. But suffice it to say, this company is sitting in the catbird seat of the Canadian marijuana market.
Again, I can't go into all the details here, but this could be one of the biggest opportunities we've ever identified in our research.
Our team has laid out everything you need to know about this and other cutting-edge stocks in "THE LIST -- 7 Growth Stocks You Need To Own Now". In this new report, you'll learn more about the Marijuana Revolution along with the rest of our top stock picks in multiple sectors, including our #1 Biotech Stock, #1Pharma Stock, #1Renewable Energy Stock, and more.
This article originally appeared on StreetAuthority.com.