The cannabis sector continues to struggle in a bear market after Canopy Growth Corp (WEED, CGC), the largest cannabis company in the world, reported disappointing second quarter results after the bell yesterday. Today I am going to provide a sector update and share my outlook for the next few weeks.
Cannabis stocks got off to a blazing start to 2019 – trading deep into the green early in the year. But the sector has been weak for the last few months, falling into a bear market. Today I am going to provide an update on what has been going on and what to expect in the second half of the year.
The cannabis sector has had a very tough three months. However – this string of weakness has created one of the best opportunities in the last four years. Today I am going to explain what is happening – and show you a chart pattern that has led to enormous gains in the last few years.
Harborside is a major player in the California cannabis industry – it has been around since 2006 and was one of the first six companies in the state to get a license to sell medical. From there the company has flourished. Today Harborside owns 34 dispensary licenses with more than 300,000 registered customers.
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.
Just like the cannabis edibles market, the cannabis drinkables market is also expected to explode in the next four years and today I am going to reveal five cannabis drinkables stocks that are ready to cash in.