The Illinois Senate just passed a bill to legalize recreational cannabis – placing Illinois in position to grow into one of the largest cannabis markets in the US. Today I am going to reveal two cannabis industry leaders ready to capitalize – Cresco Labs (CL, CRLBF) and Green Thumb Industries (GTI, GTIBF).
The cannabis sector suffered a very tough bear market in the fourth quarter of 2018. The cannabis sector became over sold – and it ended up creating a great buying opportunity and a sharp rebound in the first quarter of 2019. Looking forward I am optimistic on cannabis stocks. June and the second half of the year have been seasonally strong periods for the cannabis sector.
Illinois is aiming to become the next US state to legalize recreational cannabis. According to a recent study by Colorado-based cannabis consulting firm Freedman and Koski, annual recreational cannabis sales could be between $1.7 billion and $2.7 billion per year – making Illinois one of the largest cannabis markets in the US.