After struggling in the second half of 2020, cannabis stocks are off to a hot start in 2020. For example Canopy Growth Corp (WEED, CGC) is up 25% in 2020 and up 65% from the 52-week low in late November.
It’s been a tough year for cannabis stocks. However I am seeing some important signals that tell me the worst is over and that cannabis stocks are ready to resume the long-term trend higher in 2020.
Joe Biden spooked the cannabis market last week. He called cannabis a gateway drug and said he needs to see more research before legalizing. Biden has walked those comments back – however – his comments left a lot of investors asking –
Is Joe Biden good for bad for weed stocks?
Elizabeth Warren would be great for the US weed industry, she is one of the most pro cannabis politicians in the US. The senator from Massachusetts currently boasts an ‘A’ record from the National Organization for the Reform of Marijuana Laws (NORML).
We saw a flurry of earnings reports from leading cannabis companies this week and unfortunately the results fell short of expectations. That drove shares and the entire sector lower – hitting a new 52-week low. Today I will share what happened and what to expect.
Canopy is down 60% from the 52-week high and shareholders are feeling the pain. However, I see four bullish signals on the chart that tells me shares are overdue for a big rebound.
I see a hot new cannabis stock IPO that weed stock investors need to know about. Israel is considered the cannabis research capital of the world. Israeli scientists began studying cannabis back in the 1960’s. In 1973 Israel become one of the first countries in the world to legalize medical cannabis. Israel reformed its medical cannabis industry in 2016 and today – the industry is seeing record demand.
The 2020 US presidential election is a profit trigger for US cannabis stocks. The democrat candidates are showing big support for legalization. I expect that to generate al lot of interest in US cannabis stocks, and that could easily trigger a big rally in the sector.
Cannabis is set to go legal in Illinois on January 1, 2020. Analysts are predicting Illinois will grow into one of the largest cannabis markets in the US, with annual sales between $1.5 billion and $2 billion. Today I am going to reveal a promising young cannabis company that is ready to cash in on Illinois going legal.