From the Desk of Ian L. Cooper

This is one of the best times to be a cannabis investor.

Congress just introduced a bill to make recreational marijuana use legal across the U.S.

Known as The Marijuana Justice Act, it would legalize marijuana and wipe out any criminal possession charges from American records, according to Rolling Stone.

Prior to that, Democratic Sen. Ron Wyden introduced S. 420, which seeks to legalize and regulate marijuana on a federal level.  Otherwise known as the Marijuana Revenue and Regulation Act, it could de-schedule marijuana by removing it from the Controlled Substances Act (CSA), establish a federal excise tax on legal sales, and create a system of permits.

Earlier this year, Rep. Earl Blumenauer (D-OR) proposed H.R. 420, which seeks to treat marijuana like alcohol.  In addition, lawmakers in California and Rhode Island have also introduced “420” bills, as well.

It’s only a matter of time before legalization happens, which could create a sizable boom for related stocks, including:

Canopy Growth Corporation

After receiving a $4 billion investment from Constellation Brands, the stock continues to show promise.  For example, it’s making an investment of $100 million and $150 million to create a large-scale hemp production facility in New York over the next 100 days. It’s currently looking at sites in the Southern Tier of the state, notes Bloomberg.

In addition, the company just teamed up with Martha Stewart to produce a line of CBD products for people and their pets.  "I am delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living," Stewart said, as quoted by CNN.

Tilray Inc.  (TLRY)

Tilray is making major headlines after jumping into the U.S. CBD market.  That’s after agreeing to acquire Manitoba Harvest for $317 million in cash and stock.

Manitoba Harvest CEO Bill Chiasson said the “current plan is to introduce a line of CBD-infused tinctures, a CBD spray and CBD gel caps,” as quoted by MarketWatch.  “We have retailers who have expressed a lot of interest in that, in states where it’s more friendly.”

CannTrust Holdings (CTST)

Over the last few weeks, the company applied to list its shares on the NYSE. "CannTrust has firmly established itself as one of the top licensed producers in Canada with a global platform rooted in trust, science and innovation,"  CannTrust CEO Peter Aceto said. "A listing on the NYSE is a natural step forward in our evolution as we look to broaden our investor base, increase the company's exposure and expand our business on an international scale."