Cannabis Stocks See Downward Pressure
The stock market continues to be mixed and leading marijuana stock continues to see losses in trading. At the present time, many U.S. stocks are heading lower as investors become concerned with the impact of a COVID-19 shutdown in Europe’s largest economy. Currently, in Germany, a month-long extension to strong lockdown measures has been implemented to combat the resurgence of COVID in the country.
Also, investors are waiting for commentary from Federal Reverse Chair Jerome Powell and Treasury Secretary Janet Yellen. Now in March, many marijuana stocks are trading at lower market values than they entered the month with. This could mean an opportunity for investors looking to start a position in the cannabis sector to find lower price points. Most likely the next few years will see massive growth of the cannabis industry. Generally speaking, many cannabis companies are positioning themselves to gain a portion of this growing market share. In the U.S.
Currently, U.S. cannabis sales are predicted to range from $20.3- $24.8 billion in 2021. In essence, this growth could add value to the best-positioned cannabis companies in the future. Many of these companies have begun expanding their businesses and are entering new key growth markets. During recent reporting, most of the top U.S. cannabis companies are showing strong 2020 revenue growth. In reality, this sales trend could persist in 2021 as the market continues to expand across America and other parts of the world.
Growth Of The U.S. Cannabis Industry
As new states continue to move to recreational use cannabis markets and other states begin legal medical cannabis programs, the industry is growing rapidly in the U.S. Now that top marijuana stocks are dropping in market value it could be time to add some to your watchlist. As an investor doing your own due diligence in