The first step toward legally growing marijuana in the state of Texas could come Thursday.

The Texas Department of Public Safety is scheduled to begin accepting applications for licenses to dispense low-THC cannabis under the state’s Compassionate Use Act.

The town of Gunter, Texas, fifty miles north of Dallas, may be among the first locations approved. A company called Aquiflow, has purchased the town’s old cotton gin with plans to start production.

“If it’s legal, I’m all for it,” said Mayor Pro Tem Larry Peters.

It looks like Canada will become the first G7 nation to legalize recreational cannabis. As a result, the Canadian stock market is poised for a substantial spike this spring when Canadian Prime Minister, Justin Trudeau, plans to implement the new legislation.

Cannabis is quickly becoming the “it” stock to invest in. While initial investments have been tricky due to what feels like perpetual negotiations regarding laws and restrictions, the cannabis stock is still considered to be the most promising investment for turning a profit.

Nothing encompasses this sentiment more than Canadian cannabis holding company, Canopy Growth. Located in Smiths Falls, Ontario, Canopy Growth one of the largest legal cannabis producers in the world.

How do you know when you might be in a market bubble?

Well, for starters, you start hearing from 24-year-olds about how much money they’re making off one of this country’s hottest stocks: Canopy Growth Corp. (TSX:WEED) — a company with a $2 billion market cap despite just $30 million in revenue over the past 12 months.

The founder and CEO of Canopy Growth has apologized to customers over a medical marijuana recall that forced Health Canada to introduce spot checks for banned pesticides at licensed production facilities.

The apology is aimed at customers who bought medical marijuana from the Toronto-based company Mettrum. Canopy Growth took over Mettrum on Feb. 1.

In an email sent Thursday to Mettrum customers, Bruce Linton said new quality assurance practices are now in place.

'I'm sorry you had to go through this'

"I'm sorry you had to go through this. And I will do my best to ensure it doesn't happen again," he wrote in the email seen by CBC News. 

Marijuana is transforming into the darling of daring investors, and the nascent legal weed industry is excited about the prospects for profits. But there are many risks to investing in this tricky business. Canopy Growth, a Canadian cannabis holding company, is representative of the hope and potential woes that go with buying stock in an industry still negotiating existence.

In November, Floridians overwhelmingly voted to legalize medical marijuana. Seventy-one percent of voters backed Amendment 2, requiring the legislature to make rules by July 3. By September, medical pot is supposed to be available statewide.

But try telling that to the City of Miami. Nearly four months after the election, officials in the Magic City are still debating whether medical marijuana is even legal at all.

Let’s journey back to 1981.  REO Speedwagon just sold out and did a ballad.  Ronald Reagan is in the White House and his wife Nancy’s response to the crack cocaine epidemic is to, “Just say No.”  John Lennon was murdered by a psycho and Paul McCartney was the most hated person in America because of his response to his chum’s death.  The video game revolution has begun with arcades springing up all over the landscape offering games like Pac-Man and Asteroids.  The Houston Astros had those ugly multi-colored home jerseys and the Oakland Raiders won the Super Bowl, directly before they split and moved to LA. 

This week marks a major marijuana milestone for the Australian state of Victoria. Last year, it became the first region in the country to legalize medical cannabis use, and now that system is starting to bloom. Early on Tuesday, the Andrews Government announced that they had successfully harvested Australia’s first-ever medical cannabis crop. 

Sowed in a secret government grow facility back in April 2016, this marijuana plant is being tested and prepped for the country’s first patients. This particular plant will be reserved for children suffering from severe epilepsy, and will be available for treatment starting this year.