Though it's been a wild journey for the North American marijuana industry, cannabis could well be one of the fastest-growing industries this decade. A green wave on election night pushed the number of legalized medical marijuana states up to 36 – 15 of which also allow for the consumption and/or retail sale of adult-use weed. Meanwhile, Canada hit its two-year anniversary of recreational marijuana legalization in October.

The table is set for the legal North American pot industry to mature, and for a handful of standout marijuana stocks to shine.

At one time, Aurora Cannabis(NYSE:ACB) was the most desirable of all North American pot stocks. At the midpoint of 2019, it owned 15 cultivation facilities that, if fully built out, could produce more than 650,000 kilos a year of cannabis on a combined basis. Such enormous output was expected to make Aurora a logical go-to for supply deals, as well as drive down its per-gram production costs well below the industry average.

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