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This April 15, 2017 file photo shows marijuana plants for sale at the ShowGrow dispensary a medical marijuana provider in downtown Los Angeles.

Richard Vogel/AP

Globe editors have posted this research report with permission of Beacon Securities Ltd. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:

With a run up expected in Q2/FY18, what may be in store for investors in Q1/FY18? Particularly given the exceptional run in recent weeks, we believe there is a good chance that stocks come in somewhat in Q1/FY18, before going on a run again in Q2/FY18. Some may see that as a welcome and healthy pullback, although, of course it may not happen – particularly given the momentum at the end of 2017 / so far through 2018, and the four imminent multi-LP catalysts we see coming.

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