Buy Pot Stocks
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If you think it's a challenging time for Wall Street, take a closer look at how poorly marijuana stocks have performed since February 2021. With federal cannabis reforms failing to materialize, pot stocks quickly went from the hottest thing on Wall Street to absolute buzzkills. But that may be about to change.
Cannabis is a massive global opportunity. Research firm BDSA has forecast a compound annual growth rate of more than 16% for the industry through 2026. If accurate, the global weed market would be worth $61 billion in 2026, with a majority of these sales originating in the United States. In other words, the beatdown that pot stocks have endured has rolled out the red carpet for opportunistic investors.
Interestingly, the lack of cannabis reform on Capitol Hill has actually been a positive for Innovative industrial Properties. With weed illegal at the federal level, access to credit markets has been spotty for pot stocks. IIP has stepped in with its sale-leaseback program to allay these concerns. IIP acquires facilities with cash and immediately leases these properties back to the seller. It's a win-win that puts cash in the pockets of multi-state operators (MSOs) while landing IIP long-term tenants.
When SNDL first became a publicly traded company in 2019, it was relatively undecipherable from other Canadian pot stocks. It primarily focused on wholesale cannabis, with management making the decision not long thereafter to pivot to retail sales because of its higher margin potential.
Canadian marijuana stocks rallied Thursday, then gave up those gains on Friday, following a Bloomberg report that U.S. Senate Democrats plan to introduce a federal cannabis decriminalization bill this month. So are Canadian marijuana stocks buys now
Those legislative efforts would follow a year of soured optimism over the prospect of U.S. cannabis reform. That sentiment has dragged marijuana stocks lower through this year. And even if the U.S. passes full federal legalization, the implications for Canada's pot producers are unclear.
Aurora and its rivals have dealt with layoffs, facility closures and executive-team shakeups over the past few years, following losses, competition and overexpansion. Market share continues to shrink for big Canadian marijuana stocks like Hexo (HEXO), Canopy Growth (CGC) and Tilray (TLRY).
IBD only has full ratings for marijuana stocks in Canada that trade on the big U.S. exchanges. But it also tracks stocks related to the marijuana industry, like Innovative Industrial Properties (IIPR), a U.S. cannabis-focused real-estate investment trust.
MarketSmith also has limited ratings data for some U.S.-based cannabis producers that operate in legal states, like Curaleaf (CURLF), Green Thumb Industries (GTBIF) and Trulieve (TCNNF). Those marijuana stocks trade over the counter and in Canada.
Amid the volatility in marijuana stocks, one way to avoid stock-specific risk is via ETFs. The ETFMG Alternative Harvest (MJ) ETF is one such option. The AdvisorShares Pure Cannabis (YOLO) ETF and the Cambria Cannabis ETF (TOKE) are others.
But for those who have been observing cannabis companies from the sidelines, pondering whether or not to get into the space now that stock prices of the biggest licensed-producers are significantly higher than they were two years ago, is now the right time to buy Will pot stocks soar or crash after October 17th, when recreational weed officially becomes legal
Marijuana stocks plunged after Senate Minority Leader Mitch McConnell criticized Democrats Tuesday for pushing to include measures to make it easier to buy pot in an end of year spending bill before Republicans take hold of the chamber.
Industry analysts generally see a murky path forward for all of the cannabis reform bills on Capitol Hill, but but they feel that meaningful steps towards legalization are expected to continue to spark interest in cannabis stocks.
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