Canadian pot stocks start 2018 with a bang amid California legalization
THC BioMed surged 70% intraday and CannaRoyalty jumped 27%, pushing the BI Canada Cannabis Competitive Peers Index up 13% to a record
Long line ups to buy marijuana in California and a new ETF sent Canadian pot stocks roaring into the new year.
THC BioMed International Ltd. surged 70 per cent intraday and CannaRoyalty Corp. jumped 27 per cent at 2:38 p.m. in Toronto on Tuesday, pushing the BI Canada Cannabis Competitive Peers Index up 13 per cent to a record, extending a run that’s seen it almost triple since November.
While few Canadian companies have direct exposure to the U.S. pot market — and may run afoul of the country’s main stock exchange operator if they do so — brisk buying stateside might be a sign of things to come when Canada legalizes the drug by July, Beacon Securities Ltd. analyst Vahan Ajamian said
Marijuana Stocks could explode in 2018
Welcome to our website! We are the most trusted source when it comes to marijuana news as well as marijuana stocks. We are here to help investors keep up to date with the newest market trends in the penny stock ,cannabis and pot stocks sector.
Over the last five years, marijuana stocks have seen enormous growth. Every year more legislation is being passed giving people access to both medical and recreational use of Marijuana and Cannabis related products. The medical marijuana industry is expected to reach over 55 billion by 2025 some experts are estimating that California will add an addition 5 billion to its economy because of their decision to legalize the recreational use of the plant. By 2020 it is estimated that the weed industry will create an additional 350,000 jobs.
As I am sure you can imagine smart investors are looking to take advantage of the future explosion in the industry. Our focus is to stay ahead of the game and be able to provide our subscribers the most current and relevant Cannabis news as well as top-notch marijuana stocks alerts!
Some of the most frequently asked questions we get are:
Marijuana Stocks That Could Outpace The Market In 2018
•Private and public funds are throwing tens of million of dollars in anticipation of several industry catalysts that will be seen in 2018.
•New ETFs are coming online that are heavily investing in top companies in the industry.
•Aurora’s $55 million pre-IPO investment into The Green Organic Dutchman could signal a changing tide in the industry to spark new investment opportunities.
I’ve written a lot about this industry lately especially because there could be some very big catalysts this year, including Canada’s recreational legalization. Obviously, in anticipation of this, many traders and investors looking to get a piece of the marijuana stock market are searching for an answer to the question: Which cannabis stocks should I buy now?
The U.S. legal marijuana industry is booming
But continued federal prohibition hasn’t stopped the marijuana industry from growing like a very profitable weed.
Despite what could be considered an unfriendly administration in Washington D.C., nine states and the District of Columbia now allow for recreational marijuana use and 30 allow for medical use. And more states are lining up to join the legalization wave. Pot has become big business in the U.S.
The emerging industry took in nearly $9 billion in sales in 2017, according to Tom Adams, managing director of BDS Analytics, which tracks the cannabis industry. Sales are equivalent to the entire snack bar industry, or to annual revenue from Pampers diapers.
That was before California opened its massive retail market in January. The addition of the Golden State is huge for the industry and Adams estimates that national marijuana sales will rise to $11 billion in 2018, and to $21 billion in 2021.