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Reefer madness is back. But this time it’s not high school delinquents going crazy, but equity investors hell bent on marijuana-related stocks.

Shares in companies catering to the multi-billion-dollar pot industry have soared this year due to legislative changes south of the border that vastly reduce legal restrictions on smoking pot for medical and recreational purposes.

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Many believe we’re only at the beginning of a far bigger play that could rival the dotcom boom and bust of the 1990s. If so, more and more investors will be keen on getting in on the fun, all the while hoping they don’t get burned.

Here, we offer a simple primer to the play that has market’s buzzing.

The Catalyst

The marijuana play gets its spark from significant changes to longstanding laws that govern the use, sale and possession of cannabis in several countries around the world, including, most importantly, the United States, where a number of states have decriminalized the substance to varying degrees and/or created exemptions specifically for medical cannabis over the past few years.