Reefer Madness: Cannabis Stocks Draw In Investors

Call it the green rush. Or the green wave. Either way, the movement toward legalized marijuana use in North America is gaining ground. November's midterm elections saw Missouri and Utah join 31 other U.S. states where medical marijuana is legal. Michigan voters made their state one of 10 (plus the District of Columbia) where recreational use isn't a criminal offense. Canada recently became the first industrialized nation to legalize recreational marijuana use nationwide.

The prospect of continuing momentum has investors seeing green in more ways than one, but those who have been riding the green wave thus far have had a wild run. In advance of Canada's October 17 legalization, Canadian cannabis stocks soared. Canadian pot firm Tilray was trading in the low to mid $20s for