Marijuana Sector StockNews
The Cannabis Industry is growing like a “weed.” In 2018 we saw Canada became the first G-7 country to federally legalize private sales of recreational marijuana, Cronos Group (CGC) became the first cannabis producer to list on a major US stock exchange, Tilray (TLRY) became the first cannabis producer to IPO on a major US stock exchange, Michigan voted to legalize recreational marijuana, Oklahoma and Utah legalized medical marijuana, California’s recreational marijuana sales began, and Portugal legalized medical marijuana.
Though cannabis is still federally illegal in the USA, 10 states and the District of Columbia now allow for recreational marijuana use and 30 allow for medical use. And more states are lining up to join the legalization wave.
Now the focus is now on just how big the global cannabis market could be. A new analysis from Arcview Market Research and BDS Analytics estimates that global marijuana sales will rise 38% in 2019 to $16.9 billion and they predict that number could reach $164 billion by the end of 2025.
Marijuana Today = 1990’s Early Internet
With FDA approvals, Canada legalization, and President Trump pushing for legalization, marijuana is in its “early internet days.” Meaning, the marijuana explosion isn’t done. It’s only beginning and stocks could grow 79,256% as we’ve seen before.. And check out the stocks you should be watching.
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