Shares of major Canadian cannabis companies traded in negative territory on Wednesday amid election results showing an uncertain pathway for the U.S. to legalize cannabis federally despite a "green wave" of state-led ballot initiatives that legalized marijuana in five U.S. states. 

While votes are still being counted the day after the U.S. election, voters in Arizona, New Jersey, South Dakota, Mississippi and Montana all gave the green light to legalizing cannabis for either medical or recreational purposes. 

Why These Marijuana Stocks Are Still On Top

Though investors' eyes are squarely on tech stocks, it's marijuana that could be one of the fastest-growing industries in North America over the next decade.

The latest edition of Marijuana Business Factbook from Marijuana Business Daily forecasts that legal weed sales in the U.S. could potentially triple to as much as $37 billion by 2024. With more U.S. states giving the green light to recreational and medical cannabis every year, and the Canadian industry working out its kinks, the sky's the limit for North American pot stocks -- well, most of them at least.

Even the fastest-growing industries have laggards that should be avoided at all costs by investors. In November, there are three pot stocks that cannabis stock investors would be wise to steer clear of.

Cannabis companies rallied in premarket trading on Thursday, reversing a slump the day before, on renewed optimism over the lifting of restrictions on marijuana sales in five states this week.

Aurora Cannabis Inc., Tilray Inc. and Aphria Inc. led the advance, with double-digit gains. Aurora shares rose almost 30 per cent, while Tilray advanced 24 per cent,. Shares in Aphria, which operates mainly in Canada, rose 15 per cent, in pre-market trading after the company said it plans to buy a craft brewing company to expand into the U.S. ahead of a potential move to legalize.

Canopy Growth (WEED.TO)(CGC) has launched CBD-based drinks aimed at pushing beverage-based pot beyond occasions where it’s socially appropriate to get high. While the Canadian pot giant continues to expand its infused drinks lineup at home, challenges lay ahead as the company looks toward the American market.

It looks like JAY-Z is fully throwing in on the cannabis scene with the debut of a new weed brand, Monogram. 

Jennifer Grant pitched her first business venture in front of a national audience.

The entrepreneur, biochemical engineer and mother of three appeared on the first season of Dragon’s Den, where she netted a $200,000 equity investment from Jim Treliving and Jennifer Wood for her line of organic salad dressings and bread dips rich in Omega-3 fatty acids.

Grant started her company after searching for a natural way to treat her son’s eczema. She found that flaxseed oil was effective, but it didn’t taste very good. So Grant launched CenaBal Gourmet Organics Inc. with a line of products that utilized the benefits of flaxseed without the bitter taste.

Are These Canadian Pot Stocks Worth Watching

You probably know people who will tell you “how it’s done”. Setting up a grow room has many ways of being done and more opinions than truths out there. You have to ask yourself some basic questions such as:

1. How much space can I commit to this project?
2. How much time can I commit to this project?
3. How much money am I willing to spend on this project?

With those answers now you have to ask yourself some more questions like: