When it comes to cannabis stocks, what can get lost in the “weeds,” so to speak, is the gains that these names have provided on a year-to-date (YTD) basis. Yes, the sector has roughly halved from its February peak. However, many long-term investors that haven’t touched their weed stocks since the beginning of the year still have paper gains on the books at the time of writing.
Many of the publicly traded cannabis players available to investors right now happen to be domiciled in Canada. And, due to the various banking and listing restrictions in the United States, they are prohibited from selling THC products in the U.S. market.
But the rate of growth north of the border is something cannabis investors will want to watch closely. The Canadian market isn’t one that typically gets a lot of attention. However, when it comes to weed stocks, it’s where a lot of the action is right now.
Canada reported some pretty impressive growth in legal cannabis sales last year. Revenues from legal sales grew 120% over 2019 to $2.1 billion. Additionally, legal sales surpassed “illicit” sales for the first time in the country’s history. Nine out of Canada’s ten provinces saw growth.
As the first major economy to legalize cannabis for recreational purposes, the Canadian growth trajectory in this industry will likely be looked to as a key indicator for how other major economies perform post-legalization. So, for those honing in on the Canadian market today, here are…
Original Author Link click here to read complete story..
When it comes to cannabis stocks, what can get lost in the “weeds,” so to speak, is the gains that these names have provided on a year-to-date (YTD) basis. Yes, the sector has roughly halved from its February peak. However, many long-term investors that haven’t touched their weed stocks since the beginning of the year still have paper gains on the books at the time of writing.
Many of the publicly traded cannabis players available to investors right now happen to be domiciled in Canada. And, due to the various banking and listing restrictions in the United States, they are prohibited from selling THC products in the U.S. market.
But the rate of growth north of the border is something cannabis investors will want to watch closely. The Canadian market isn’t one that typically gets a lot of attention. However, when it comes to weed stocks, it’s where a lot of the action is right now.
Canada reported some pretty impressive growth in legal cannabis sales last year. Revenues from legal sales grew 120% over 2019 to $2.1 billion. Additionally, legal sales surpassed “illicit” sales for the first time in the country’s history. Nine out of Canada’s ten provinces saw growth.
As the first major economy to legalize cannabis for recreational purposes, the Canadian growth trajectory in this industry will likely be looked to as a key indicator for how other major economies perform post-legalization. So, for those honing in on the Canadian market today, here are…