Few industries offer as much promise this decade as marijuana. After generating $10.9 billion in worldwide sales in 2018, Wall Street analysts are forecasting anywhere from $50 billion to $200 billion in global sales by 2030. While not every pot stock can be a winner, these would appear to be incredible growth figures for investors to piggyback on.
However, there’s been a wild divergence to date between the U.S. and Canadian cannabis markets.
Despite the U.S. federal government’s failure to legalize weed, quite a few marijuana stocks have flourished. We’ve witnessed two-thirds of all states legalize medical cannabis, with 11 states permitting adult-use consumption and/or retail sale. According to the latest edition of the “Marijuana Business Factbook” from Marijuana Business Daily, the U.S. sold anywhere from $10.6 billion to $13 billion in legal-channel pot last year.
To read more, click on https://www.fool.com/investing/2020/09/29/more-bad-news-for-the-canadian-marijuana-industry/