Despite enormous challenges weed stocks ended up having an incredible year in 2020. Many of our favorite stocks delivered huge returns in the last 12 months. Looking forward I believe the stage is set for more gains in 2021 because of three powerful catalysts.
Like many other states, the Pennsylvania economy has been wounded by COVD-19. However, the governor has a solution to repair some of the damage – legalize cannabis. On Tuesday, Pennsylvania governor Tom Wolf (D) announced that legalizing recreational cannabis is a high priority on his fall legislative agenda. Here are three stocks looking to cash in.
Arizona just successfully passed a ballot initiative (Prop 207) that will have the state voting on legalizing recreational cannabis on November 7. If Prop 207 passes, annual cannabis sales in Arizona would quickly jump above $1 billion. Today, I am going to reveal two early industry leaders that are in position to benefit if Arizona goes legal.
Earnings season is when companies reveal sales and earnings results for the previous quarter – and just as important, the company provides guidance on what investors should expect for the following quarter. Quarterly earnings that beat expectations have a documented history of helping shares outperform the broader stock market in the following weeks and months.