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In just the past seven months, conservative Mississippi, Montana, and South Dakota, along with state legislatures in New York, New Mexico, and Virginia, have approved bills to legalize cannabis for recreational use. With more lawmakers from Delaware to Minnesota working on ending the prohibition, the cannabis industry has the potential to gain more momentum. Also, a growing awareness of the medicinal benefits of cannabis, and surging demand for plant-based treatments in pain management, are among the key factors that are expected to drive the industry’s growth. In fact, the cannabis market is estimated to grow at a 28.0% CAGR over the next 5 years to reach $90.4 billion.
Given these industry tailwinds, Wall Street analysts are placing huge bets on cannabis stocks. Specifically, they expect financially strong stocks Green Thumb Industries Inc . (OTC:GTBIF), The Supreme Cannabis Company, Inc. (SPRWF), and CV Sciences, Inc. (OTC:CVSI) to rally by more than 50% over next 12 months.
