Cannabis Stocks Rising in Long Term
“Growthy” Cannabis Stocks to Be Taken Over in the US by Tobacco and Drinks Companies – US Wealth Adviser
To say that Carol Pepper of Pepper International is hot on cannabis stocks is an understatement. She is calling cannabis stocks the “next huge growth area” – presumably because US cannabis legalization is expected soon.
“If you want to be in something that’s very growthy, and actually legitimate as it is legalized and controlled properly, I think this is the place to go,” she said on CNBC’s “Squawk Box Europe”.
She pointed to the uses of medical cannabis, which is starting to get more research now that it has be legalized in Canada.
“The medical applications for cannabis are staggering. The research is being done and I really think this is next huge growth area,” Pepper said. She noted research using cannabis for arthritis and epilepsy. Several states including Ohio have legalized medical cannabis already, and the World Health Organization (WHO) has recommended removing cannabis from the list of most dangerous drugs due in part to its medicinal use.
Pepper also noted that in the United States, major tobacco and drinks companies will likely dominate cannabis stocks – a reflection of the consolidation in the Canadian cannabis industry.
Canopy Growth a Bellwether Cannabis Stock
The CNBC article (link below) cited Canopy Growth as one of the bellwethers of the cannabis industry. The cannabis stock rose 65 per cent so far since getting listed on the New York Stock Exchange (NYSE). She said that Canadian cannabis stocks have “blown through expectations” and noted that several Canadian companies are now expanding their cannabis operations to Europe.
There are already signs that the cannabis industry in the US is starting to turn its wheels. As previously noted, the slow march to cannabis legalization in the US is leading to a boom in cannabis patents. It’s even entering high-end fashion as Barney’s opens its luxury cannabis retail store in Beverly Hills. These are all good things for cannabis stocks.
“I think it is a phenomenal plant that is going to a lot of good for the planet and I’m glad it is finally being legalized,” Pepper said.
