South Africans recently celebrated changes in domestic law around the consumption of marijuana for private use. We are still some way behind the US which is a major driver of a $150bn global market.

The explosion of interest in global marijuana stocks has seen shares rocket upwards but as the market becomes increasingly frothy, this means that the risk of failure rises.

Given bankruptcy risks and recent sky-high stock market valuations, it’s gotten increasingly harder to separate the wheat from the chaff.

In this clip from The Motley Fool’s Industry Focus: Healthcare, analyst Shannon Jones asks guests Todd Campbell, Sean Williams, and Keith Speights: What marijuana stocks are smart buys now? Tune in to find out why Organigram (NASDAQOTH: OGRMF), Aphria Inc. (NASDAQOTH: APHQF), and Liberty Health Sciences (NASDAQOTH: LHSIF) top their list of the best buys in the industry today.