Marijuana isn't just another growth industry. It has the potential to be a once-in-a-generation growth opportunity for patient investors who have a keen eye for this fast-paced industry. Between 2018 and 2030, various Wall Street firms have called for a fourfold to sixfold increase in global sales, which should be more than enough to create some big-time winners in this space.

Finding undervalued stocks can be one of the best ways to turn a small investment into huge gains. Many stocks have been getting hammered over the past month, and this has created several buying opportunities for those who are willing to find them.

When it comes to pot stocks, things are no different. There are dozens of cannabis stocks trading under a dollar and many are not worth investing in at this point, but here are three stocks that could be undervalued at their current prices.

An alliance of large marijuana businesses has a message for the public: We’re good corporate citizens.

The 45-member Global Cannabis Partnership that includes Canopy Growth Corp. and other major companies issued guidelines Tuesday aimed at minimizing greenhouse gas emissions and promoting ethical conduct and responsible pot use.

Executive Director Kim Wilson says the emerging legal industry is “in a unique position to set a new bar for socially responsible practices.”

As the once-illegal marijuana economy evolves into a multibillion-dollar industry, the guidelines appear aimed at assuring consumers that those companies are operating with their interests in mind, not just focused on the corporate bottom line.

Today we have discovered four Canadian marijuana stocks that have entered into an exclusive agreement with PAX Labs Inc. PAX Labs, a cannabis vaporizer company that offers quality, control and predictability with its pen-and pod system, announced its exclusive partnership with four Canadian cannabis producers on June 7, 2019.

PAX has sold more than 500,000 Era devices for oil concentrations and more than one million devices in the flower vaporizer category globally. With the agreement, Organigram, Aphria, Aurora Cannabis, and The Supreme Cannabis Company should be able to offer products from their various brands in pods compatible with the PAX Era device. PAX Era will be available in Canada later in 2019.

Food and lifestyles guru Martha Stewart says the recipe for success she has followed throughout her career also applies to cannabis companies -- offer quality products at fair prices.

"My approach has always been make the best product at the best price and distribute it as widely as possible. That's why when I started my business ... I started at Kmart, that old, wonderful store," Stewart told about 650 cannabis industry leaders Tuesday at the World Cannabis Congress in Saint John, N.B.

"I think it's always about the best for the fairest price. There is a fair price for everything."

In February, Stewart joined Ontario-based Canopy Growth Corp. in an advisory role to help develop a new line of products.

These past few months have been a rough ride for Aphria (TSX:APHA)(NYSE:APHA) investors. After reaching a peak closing price of $14.21 in February, the stock began sliding later that month, with the downtrend accelerating in April. By May 17, the stock was trading at just $9.19 — a 35% decline from its peak price.

Don't blink, because if you do, you might miss the next big deal, organic capacity expansion, or new product unveiling from the fast-paced marijuana industry.

It's not hard to see why Wall Street and investors are so excited about the potential for legal weed. Tens of billions of dollars in cannabis are sold annually on the black market around the world, and if legalization can move even half of these sales (if not more) into legal channels, the pot industry could easily surpass soda in terms of yearly global revenue.

Molson Coors Brewing Co.’s cannabis joint venture plan to start selling multiple types of pot beverages on Canadian shelves the first day they can legally be sold, though they won’t contain alcohol.

The maker of Coors Light has partnered with Gatineau, Quebec-based Hexo Corp. to make a variety of non-alcoholic, cannabis-infused drinks for the Canadian market. The joint venture, called Truss, will have “lots of different beverages” for sale on Dec. 16, when the beverages become legal in Canada, said Jay McMillan, Hexo’s vice president of strategic development.

While the conversation around which pot stock provides the best long-term potential often revolves around a few chosen ones, there are many other marijuana companies to consider. Case in point: OrganiGram Holdings Inc (TSXV:OGI)(NASDAQ:OGI) has performed better on the stock market year to date than many of the most popular marijuana stocks. Indeed, this doesn’t seem to be a fluke; the pot firm is an exciting prospect for a variety of reasons. Let’s consider three.

Efficient operations

One of the most important things marijuana companies can do to be competitive is to produce massive amounts of their products. That’s why much of the money spent by pot companies so far has gone into increasing their production capacity.

ParcelPal Technology Inc. ("ParcelPal" or the "Company"), (CSE: PKG) (FSE: PT0) (OTC: PTNYF) is pleased to announce the integration of ParcelPal's app on the Shopify's digital platform. The integration will be complete in the coming weeks.

Shopify is an eCommerce platform provider that gives retailers everything they need to build and operate a successful online store. Shopify is the leading eCommerce provider for merchants in North America in retail and specifically cannabis within Canada.