What to Know About Marijuana Stocks for the End of 2020
Getting marijuana industry news is vital to help you decide which stocks to invest in on the stock market. Information about which companies are expanding and their partnering in the market is of great importance. There is always news in the cannabis industry.
Investors should generally look for cannabis information in areas such as legalization, partnerships in the industry, and developments about medical marijuana.
Information on Legalization
- According to the experts at Money Morning, investing in cannabis stocks will generate you more profits as more countries legalize marijuana.
- The usage of cannabis is recreational purposes is already legalized in four countries; Canada, Uruguay, Georgia, and South Africa. 11 states in the US also legalized recreational marijuana.
- Thirty countries on all continents (except for Antarctica) legalized medical marijuana. The usage of medical marijuana is legal in 33 states in the U.S. Cannabidiol (CBD) products authorize in at least 30 states in the U.S. The rules that govern the medical use of cannabis, however, vary from state to state.
- As per the U.S. federal law, marijuana is still classified as a Schedule I narcotic. This is the same group where heroin and cocaine falls.
- Changes can always be expected. As shown in polls, the majority of Americans are rooting for the legalization of cannabis.
- The U.S. House Judiciary Committee voted in 2019 to have marijuana removed from the Controlled Substances Act.
- Although nothing occurred regarding the same in 2020, the House Judiciary Committee’s vote can be considerable the first step towards getting cannabis removed from Schedule I narcotics.
Information About Medical Marijuana
- The first marijuana-based medicine approved by the Food and Drug Administration (FDA) in 2018.
- Epidiolex (the drug) used to treat seizures for patients who suffer from certain forms of epilepsy.
- GW Pharmaceuticals, the manufacturer, earned $120.6 million in revenues resulting from Epidiolex in the first quarter of 2020.
- Countries like Germany and the UK also expected to approve the use of Epidiolex (according to one industry analyst).
- The FDA also approved Elixicure’s over the counter CBD oil pain reliever in January 2020. The ointment reduces inflammation and soothes the body.
- The FDA could also approve similar products ranging from drops to creams in the future.
- As time goes, more medical marijuana companies are testing and exploring new products. Marijuana may be approved to be used in the treatment of more diseases.
Information on Partnerships in the Cannabis Industry
- Many cannabis companies are partnering with other organizations. There are notable examples which include;
- Molson Coors, a beverage company, partnered with HEXO to produce drinks infused with cannabis. The company will announce Flow Glow, a cannabis-infused drink, in December 2020. Tilray, a producer of medical marijuana, is to partner with Anheuser-Busch to produce cannabis drinks.
- More partnerships, acquisitions, and mergers expected in the cannabis industry since it still coming up. For instance, Harvest Health and Recreation, a cannabis producer, announced buying a 32,000- square-foot growhouse from MJardin Group.
- Investors could benefit from such mergers in several ways. The unions drive headlines, pushing stock market write for higher. The merging also provides broader markets and distribution to the cannabis companies.
Trends to Observe in the Cannabis Industry
- Investors in the cannabis industry need to observe trends and constantly read marijuana industry news to be aware of what to expect.
- As earlier mentioned, polls indicate that the majority of Americans would love to see the legalization of marijuana.
- Many young Americans favor the legalization of marijuana compared to the older generation. A certain poll showed that 66% of Americans want marijuana to be legalized.
- However, a stat to note is that the same survey showed that 80% of millennials (people born between 1980 and 2000) support legalization.
- You also have to take note of the growing cannabis industry. The estimated market for cannabidiol (CBD) could reach $2.1B in sales in 2020.
- That is one part of the industry, and more analysts indicate that the industry could raise on or after $9.7 billion in 2017 to $32 billion in 2022.
- Since the cannabis industry is developing in areas where cannabis was initially illegal, there is hope that the industry could grow bigger.
- Investing in marijuana stocks could be the best financial decision one makes as more countries are legalizing the use of marijuana.
- Also, their laws stipulate to govern the use of the product. This creates an amicable environment for the use of marijuana. As the industry grows, more mergers and acquisitions will also be witnessed.
READ MORE:- infoitspro
6 eCommerce Tips To Improve Your Conversion Rates
If you’re just getting started with eCommerce, now is a great time to launch your business and begin selling online….
7 Ways You Can Manage Your Remote Team More Effectively
As remote work continues to rise, managers face the daunting task of assisting employees who have never physically met and…