Happy cannabis legalization day, Canada.

It's almost Friday, right?

Anyway, happy hump day.

With the legalization of cannabis in Canada, it's been a busy day, to say the least.

Let's break down the top stories from Wednesday, Oct. 17.

Looking for Pot Stocks?

Real Money contributor Stephen Guilfoyle's got your back.

Remember: the cannabis industry isn't just made up of companies growing cannabis.

"In my opinion, Canopy Growth (CGC) is best in class in the pot space. One huge reason would be the $4 billion investment that alcohol giant Constellation Brands (STZ - Get Report) made in the company back in August," Guilfoyle wrote. "Constellation, whose brands include Corona and Modelo beers, increased its Canopy stake from 9% to 38% as part of the deal, and Canopy CEO Bruce Linton talked of developing cannabis-infused beverages."

"There are several other major players in this space that the retail investor needs to be cognizant of. Those names would be Aphria (APHQF) , Aurora Cannabis (ACBFF) , Cronos Group (CRON) , GW Pharma (GWPH - Get Report) , and the now infamous Tilray (TLRY) . I say 'infamous' because TLRY has been more known since August for extreme volatility that put noted short-seller Andrew Left in the spotlight than for anything else," he continued.

Here's Guilfoyle's recommendations:

  • Best in Class: Canopy Growth
  • Less Downside with a Short-Term Supportive Catalyst: Aurora Cannabis
  • Some Exposure Without Doing Much Homework: Buy a cannabis ETF. One that actually trades in respectable volumes would be the ETFMG Alternative Harvest ETF (MJ - Get Report)

Cramer, Canopy and Constellation

At his teach-in Saturday, Oct. 13, Jim Cramer talked to Bruce Linton, CEO of Canopy Growth (CGC - Get Report) and Bill Newlands, COO of Constellation Brands (STZ - Get Report) .

The fireside chat covered a wide range of topics including the legalization of cannabis, other potential markets for cannabis -- namely, the beverage deal between Constellation and Canopy.

The full interview can be found here.

Jim Cramer and Cannabis

Jim Cramer talked with me about cannabis in honor of the legalization.

He suggested that investors interested in the cannabis space should look at Canopy.

He was also quizzed about various cannabis terms. He even taught me a new one, "indacouch" instead of indica.

Learn something new every day, right?

Curious about anything up Cramer's alley? Ask! Hop over to @KatherineRooss's Twitter and send me a message. Action Alerts Plus members, however, should still send their messages over to the team.

Cramer also tackled the question of why he feels so bullish on the cannabis space, but isn't invested in any of the companies that he loves.

It was a fun chat, if I do say so myself.

Anyway, enjoy your evenings. And remember, we're so close to Friday.