Investors Fuel Rally on Marijuana Stocks Amid Growing Support for Legalization
Tuesday, 26 March 2024, 16:04
Investors Flock to Marijuana Stocks Amid Rising Support
Three out of five voters seek affordable marijuana prices, propelling industry growth. Recent market rally follows announcements by Vice President Kamala Harris and impending German legalization changes. The potential federal legalization triggers excitement among investors, but uncertainties persist about individual company profitability and survival.
Voters Demand Lower Marijuana Costs
- 63% of voters advocate for Congress to pass the SAFE Banking Act for cannabis businesses.
- Senate leaders endorse the bill, potentially enhancing business operations for marijuana companies.
Market Speculations and Timelines
- Some analysts forecast Canopy Growth's profitability by 2028, while Cronos Group faces profitability challenges.
- SNDL anticipates a profit by 2025, emphasizing the importance of cash reserves in the industry's volatile landscape.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.