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.
Weed stocks are on fire. The sector has seen an enormous rally in the last three months. Today I am going to explain what has been driving the big rally and reveal what we should expect moving forward.
The Midwest is emerging as one of the fastest-growing cannabis markets in the United States, with two early industry leaders cashing in on the incredible growth. This Middle America revolution is being led by Illinois and Michigan. Both of these states recently legalized cannabis and both are seeing explosive sales growth.
The North America cannabis industry has a new champion. This well-known sector leader just completed an $875 million acquisition that puts it into a position to dominate the U.S. cannabis market. Even though shares have been rallying for the last few weeks, I see plenty of upside ahead.
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.
2020 US election should be a big catalyst for cannabis stocks – more than a dozen US states could be voting on legalization. Election is 14 weeks away – stock market is forward looking. Cannabis stocks started popping last few weeks. I am expecting a monster second half of year for sector.
Cannabis stocks have been trapped in a terrible bear market for almost two years. But now the tide is shifting. I think cannabis stocks have hit a long-term bottom and are now entering a new, multi-year bull market.
Aurora Cannabis (ACB) shares are down 93% in the last 12 months. Bargain hunters might think this is a great time to buy low. However, despite the big decline, I see more losses ahead for Aurora.
The cannabis industry is thriving during the quarantine. Not only did the industry earn an essential designation, allowing it to continue operating during the quarantine, cannabis sales are spiking to a new all-time high as consumers stock up and blaze away the stress of a global pandemic.
