The U.S. Marijuana Index, which hit a trough at 72.93 on April 3, has since recovered, with the Canadian Senate’s June 19 ratification of the bill to legalize recreational pot serving as a shot in the arm for all marijuana stocks.
Prime Minister Justin Trudeau announced Oct. 17 as the official date when recreational marijuana can be consumed without inviting legal penalties.
Recreational marijuana will fetch Canada $4.3 billion in sales in the first year following the legalization, according to CNN, which quoted research by Deloitte.
In the year-to-date period, the index has added a mere 0.8 percent compared to the 1.6-percent gain in the S&P 500 Index.
Most U.S. states permit limited use of medical marijuana under certain circumstances, while nine states and the District of Columbia have legalized recreational marijuana.
When the regulatory environment eases, the U.S. represents vast potential for marijuana stakeholders. The U.S. legal cannabis market is expected to grow from $8.5 billion in 2017 to…
$11 billion in 2018, according to the latest estimates by Arcview Market Research and BDS Analytics.
By 2022, spending is expected to reach $23.4 billion, growing by a CAGR of 22 percent from 2018 to 2022.
Revisiting The Picks
At the start of the year, Benzinga alerted investors to five big opportunities in the marijuana space. This is how each of the stocks has performed through June 30…
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