November 3 is a big day for the U.S. cannabis industry. Five U.S. states will vote on measures to legalize medical or recreational cannabis.
Leading cannabis market research firm New Frontier Data’s new research report projects that the vote will have a big impact on U.S. cannabis sales.
“The 2020 election could be one of the most consequential and historical events to change the landscape of the legal U.S. cannabis industry,” said New Frontier Data Founder & CEO Giadha A. DeCarcer. “With $9 billion in new revenue from 2022-2025, should all five states ballot measures pass, New Frontier Data estimates that revenues from all legal U.S. markets will reach $35.1B in 2025.”
Back in 2019, Aurora Cannabis was the rock star of the cannabis industry. At its peak, Aurora nabbed a market cap of $10 billion.
The company had delivered enormous gains to early investors. It also and ranked as the #1 held stock on the popular stock trading app, Robinhood.
The enthusiasm was driven by Aurora’s impressive portfolio of cannabis businesses and assets.
That portfolio included 15 global cannabis cultivation centers capable of producing more than 700,000 kilograms of cannabis per year. Aurora had also secured exclusive cannabis permits in potentially lucrative international markets including Germany and Australia. Aurora invested hundreds of millions to build an unparalleled global cannabis production and distribution network.
Cannabis investors looking for the next big thing need to take a look at psychedelic stocks. Not only is the industry growing rapidly, but a promising young biotech, led by a Facebook billionaire, just filed to go public.
Hot on the heels of cannabis, psychedelic mushrooms are quickly gaining credibility for their medicinal value.
Researchers and users are discovering that psilocybin, the psychedelic compound found in “magic mushrooms,” can be a highly effective treatment for depression.
The cannabis industry scored a huge victory this week. And if my analysis is correct, cannabis stocks are setting up for a big rally in the next few weeks and even bigger rally in the long run. Let me explain.