to full federal legalization and a pickup in deal making as companies rush to scale up. The Global Cannabis Stock Index, which tracks U.S.-listed marijuana stocks, has climbed 35% since the start of this year.
Today’s high expectations look more justified than earlier speculative rallies that left pot investors badly burned. After almost doubling in value in 2017, the index was pummeled for two years as Canadian cannabis companies reported disappointing sales and profit numbers, and black-market dealers proved more resilient than expected.
This time, cannabis companies are performing well—particularly big U.S. growers with operations in multiple states. Pot sales have been strong during the pandemic as consumers have spent more time at home and received stimulus checks. In November, grower Cresco Labs reported its third consecutive quarter of revenue growth above 40%. Pot stores also won market share from illegal dealers by letting consumers order online and offering curbside pickup.
Progress on this score remains slow: An estimated 78% of U.S. sales still happened in the black market in 2020, according to the cannabis-focused SOJE Fund. States’ thirst for new sources of tax revenue amid the pandemic provides an extra incentive to increase the size of the legal sector. November ballots in Arizona, Montana, South Dakota and New Jersey all approved the legalization of adult use.
heard The hypocrisy involved in this is overwhelming. During a pandemic which primarily impacts an individuals lungs lets promote MJ. In a nation where cigarettes are anathema to Gov't, lets promote MJ. Just be honest its not about anyone's rights, its about refilling tax coffers.
heard Drug addicts unite!!!!
heard NOBODY WHITE SHOULD BE ALLOWED TO PROFIT FROM MARIJUANA.(on any level)The idea that the architect of the prison industrial complex. (JIMCROWJOE Biden) is gonna pave the way for white owned sellers...while the black entrepreneurs are still in jail. That's America. 3strikes
heard Im in Alabama and it is so hard to find good weed . I pray to god they make it legal
heard View more highlights on here...
heard REMEMBER EVERYTHING IN MODERATION IS GOOD. Why not let ppl grow one ☝🏼 plant for their personal consumption😳
heard Helped me help my family we are poor and I want to change our life, fund my transport project in my country please😢😥 or give me alms😞
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