Big Tobacco Is About To Pivot To Big Marijuana (XLP)

From Bill Hall: In last week’s Money and Markets article, I told you about how one of America’s biggest sin stock industries is positioning itself to profit from the expected legalization of marijuana at the federal level in the U.S.

In that article, I discussed how Big Tobacco executives have been exploring the opportunities of legal marijuana since the 1970s.

All this came to light after researchers combed through more than 80,000 top-secret documents, which had been turned over to the public following the 1998 national tobacco settlement.

Meeting behind closed doors, tobacco execs from companies, like Philip Morris, considered marketing gimmicks like combining weed with menthol cigarettes.

Yes, even in those early days, tobacco company bosses knew the potential gold mine that marijuana could be if it became legal across the U.S.

Indeed, here’s how the legal marijuana business in the U.S. has grown:

According to...

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