Marijuana 1.0 was all about the legalization drive, the dumping of billions of dollars of cash into the industry and mouthwatering mergers and consolidations-but it was a jockeying exercise in capacity expansion. Mentioned in today's commentary includes:  OrganiGram Holdings (OTCQX:OGRMF), Curaleaf Holdings (OTCPK:CURLF), Emerald Health Therapeutics (OTCQX:EMHTF), Auxly Cannabis Group Inc. (OTCQX:CBWTF), CannTrust Holdings Inc. (OTCMKTS:CNTTF)

Marijuana 2.0 could be just as big a deal-it's about the technological tweaks that will actually make this industry profitable. It involves Big Data, AI, automation and a host of other tech tweaks that will increase profitability and open up vast new markets in key verticals.

OrganiGram Holdings Inc. (OTC: OGRMF) (TSXV: OGI), announced their fourth-quarter and fiscal year operating results on Friday morning, presenting impressive sales increases in the past year. The results end August 31 meaning their reported achievements do not include post-legalization revenue. It implies that investors can expect additional revenue increases in future quarters.

You've probably heard a lot about Tilray (NASDAQ:TLRY) this year. The Canadian marijuana stock has more than quadrupled since Tilray conducted its initial public offering in July. But there's another marijuana stock that you might not have heard of at all that's as intriguing as Tilray. That stock is Innovative Industrial Properties (IIP) (NYSE:IIPR). Tilray's market cap is nearly 18 times greater than IIP's market cap. So far this year, Tilray stock's performance is much better than IIP stock's 50%-plus gain. But which of these two marijuana stocks is the better pick for the future?

The marijuana industry has come an incredibly long way in a short period of time.

During the mid-2000s, just a third of all Americans polled by Gallup favored the idea of legalizing marijuana on a national level. As of 2018, 2 out of 3 Americans now favor such a move. This favorability toward pot is a big reason we've witnessed an increase in state-level legalizations. Following midterm elections, 32 states have now given the green light to medical marijuana, with 10 of those states also allowing adult-use weed.

Legalization of cannabis at the recreational level in Canada on October 17, 2018 marked a turning point for the cannabis sector worldwide. While the Canadian market is estimated to be worth several billion dollars in a few years, the market may eventually become saturated as millions of square feet of production capacity comes online. Once this happens, production capacity could exceed domestic demand, which would likely drive down prices and margins. If this theory holds true, cannabis companies that are ready to take advantage of opportunities in the face of a shifting global landscape will be the ones that deserve higher valuations. As such, the three Canadian marijuana stocks we have identified may be the ones that rise to the top in the coming years.

It would take a while to cover all of the connections between marijuana producers Aphria (NYSE: APHA) and Liberty Health Sciences (NASDAQOTH: LHSIF). Aphria once owned a sizable stake in Liberty. Its CEO, Vic Neufeld, is chairman of Liberty's board of directors. Aphria co-founder and executive John Cervini also sits on Liberty's board. But despite the close ties, Aphria and Liberty Health Sciences are separate entities. And they present very different opportunities for investors. Which of these two marijuana stocks is the better buy?

Ontario reverses course on provincial pot shop plans

Quebec-based HEXO (TSX:HEXO) announced its first-quarter earnings December 13 with an almost six-fold increase in net revenue to $5.7 million from $1.1 million a year earlier.

The big highlight: HEXO sold $5.2 million in adult-use cannabis in the first two weeks after the October 17th legalization.

A move by one of the largest tobacco companies in the United States to buy half of cannabis company Cronos for $US1.8 billion ($2.5 billion) this week signals the gold rush into the marijuana industry is booming.

Altria, which owns Philip Morris – maker of Marlboro, Benson & Hedges, Alpine and a host of other cigarette brands – is desperately trying to replace sliding sales as smoking, and smokers, literally die out.

US government agency, the Centre for Disease Control (CDC) and Prevention, says the percentage of people who smoke in the US has plunged off a cliff in recent years – down from 20.6 per cent in 2008 to just 14.1 per cent in 2017.

A supply glut in the Canadian recreational marijuana market might be the last thing on everyone's minds right now. The primary concern currently relates to supply shortages. Marijuana producers can't ship enough cannabis to meet the heavy demand.

Make no mistake about it, though, a supply glut is on the way. Opinions vary on when it will hit, but it wouldn't be surprising if the Canadian marijuana market experiences a supply surplus by 2020.