There is still much growth and revenue to be made and capitalized on in the cannabis industry, but many people have started to notice the “’shroom boom” and its potential.
While the psychedelic drug market is still in its early stages, Research And Markets projected that its market size will reach $10.75 billion by 2027.
And Tania Gonsalves, a capital markets analyst for British Columba-based investment banking firm Canaccord Genuity, estimated psychedelic drugs (i.e., “magic mushrooms” or psilocybin, LSD, etc.) could create an investment opportunity worth almost $100 billion.
During the COVID-19 pandemic, the Centers for Disease Control and Prevention reported the number of Americans suffering from anxiety, depression and suicidal thoughts nearly doubled from the previous year.
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