The cannabis industry scored a huge victory last 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.
On Sunday night, news leaked that on April 10 Canada will announce plans to legalize recreational cannabis by July of 2018. Here’s some coverage from CBCNews if you’d like to take a closer look.
This is a huge win for the cannabis industry and cannabis stocks. Much bigger than 7 U.S. states legalizing medical or recreational cannabis last November.
Cannabis is about to become fully legal in Canada for medical and recreational use. On the recreational side it’s going to be just like buying a pack of cigarettes or a a 6-pack of beer. On the medical side it will be prescribed even more as sleeping or anti anxiety medication for example.
Cannabis will be regulated and taxed but openly available to adults with a valid ID or doctors prescription.
The Horizons Medical Marijuana Life Sciences ETF (HMMJ) will begin trading on the Toronto Stock Exchange today, April 5th 2017. This will be the first ETF that will have exposure to companies listed in North America that operate in the medical marijuana bioengineering and production fields.
Many investors have been interested in the industry for a number of years, but haven't had the opportunity to invest in it through a diversified manner. This ETF solves that big hurdle.
While it is unknown how many stocks the fund will hold, or who exactly will be in it, investors can be assured this ETF boasts some very serious growth predictions. Sales in the marijuana industry grew by 30% in 2016 and according to Arcview Market Research; the industry will triple in the next four years. Continue reading "Will You Buy A Marijuana ETF?"→
This may look like bad news on the surface. For shareholders, it's never fun watching a stock you own do anything but go up. For potential shareholders, it can be intimidating to buy a stock that has been falling.