Big things are happening in the marijuana industry. Last October, Canada became the first industrialized country in the world, and only the second overall behind Uruguay, to legalize recreational weed. Now, it looks as if Mexico might become the third country to do so before the year is over. We're also seeing strong sales growth in legal U.S. states.

This year, according to a research report issued by Arcview Market Research and BDS Analytics, global cannabis sales are expected to grow by 38% to $16.9 billion. This continued rapid sales growth is why some top marijuana stocks, such as Canopy Growth, have managed to reach large-cap status.

TSX index investors looking for high-growth stocks to buy now for capital gains are still eyeing Canadian cannabis stocks as well as those tangentially connected with them.

But do these stocks still offer high growth or is the industry holding its breath? Let’s take a look at four of the most popular pure-play and cannabis-related stocks, starting with an industry outsider that joined the party last year to great fanfare.

The press has spent a considerable amount of time, focused on cannabis developments in the U.S. and in Canada. 

Canada, for example, just legalized cannabis throughout the country.  Corporate America is quickly waking up to the opportunity, transforming multi-billion-dollar industries.  U.S. states are approving the use of cannabis for recreational or medicinal use.  

However, at the same time, the cannabis story is proving to be just as exciting in Europe.

According to Canaccord Genuity as noted by The Boston Globe, “CBD, has become a ‘trending ingredient’ in a range of consumer goods and is now highly visible in pharmacies and health stores. It estimates the CBD product market in Europe was worth 750 million euros ($857 million) to 1 billion euros in 2018…”

Billions of dollars are shifting from the black market to legal marijuana marketplaces and that's sent marijuana stocks soaring to new highs. However, there's increasing concern the economy will weaken because of interest rate increases and trade wars, and if so, pot stocks could tumble. If there's a widespread sell-off in marijuana stocks, here's what you should do.

Don't let fear determine your next move

We're hardwired to avoid danger and it doesn't matter if that danger presents itself in the form of a falling account balance or a raging rhinoceros. However, panicking isn't a recipe for successfully navigating the stock market.

Aurora Cannabis (NYSE:ACB) is off to a fantastic start in 2019. Its share price is up more than 55%. But there's a marijuana stock with a market cap less than one-third of Aurora's that is enjoying an even better start to the year. That stock is Green Thumb Industries (NASDAQOTH:GTBIF), which is up close to 70% year to date.

Which of these two marijuana stocks is the better pick for investors now? Here's how Aurora Cannabis and Green Thumb Industries stack up against each other.

Volatility is the name of the game when it comes to investing in the cannabis sector.

The sector is prone to large price swings and have been a trader’s dream. Year to date, the Global Cannabis Stock Index is up almost 50% in less than three months.

Is it time to lock-in your profits? Let’s take a look.

She is 77 years old and best known for dispensing advice on such vital matters as how to tidy up a linen closet or make the perfect cheesy vegetable frittata.

Now Martha Stewart is branching out into the marijuana business, as America's most celebrated domestic goddess teams up with a Canadian cannabis business, Canopy Growth Corporation.

The marijuana industry is evolving at a rapid pace. Back in 1995, a mere 25% of all respondents in Gallup's annual survey were in favor of legalizing marijuana, and not a single U.S. state or country around the world had given the green light to cannabis.

Today, two-thirds of all respondents in Gallup's annual survey now favor the legalization of pot in the U.S., with 33 U.S. states having legalized the drug for medical purposes, and 10 allowing adult consumption. There are also two countries (Canada and Uruguay) worldwide to OK recreational weed, with more than two dozen medically legal countries.

Cannabidiol (CBD) has taken off lately, and the recent passage of the Farm Act in December has accelerated interest in the cannabinoid found in cannabis plants that was also the active ingredient in the first FDA approved drug derived from botanical cannabis, GW Pharmaceuticals's Epidiolex, which is indicated for the treatment of seizures in treatment-resistant forms of two types of epilepsy, Dravet syndrome and Lennox-Gastaut syndrome. Products containing CBD are becoming increasingly available in a variety of formats and through an increasing number of venues, with consumers able to access products derived from industrial hemp through mail order, convenience stores, health food stores, some restaurants and coffee shops and now even malls.

Most cannabis stocks have railed since the beginning of the year, with the average year-to-date return of our sample of 157 cannabis stocks coming in at 32.6%. However, not all stocks have been big winners. Today we have identified four Canadian cannabis stocks experiencing sharp declines year to date, which could represent an oversold opportunity.