By Anushka Dutta On www.stocknews.com
Legalization of cannabis across states is driving the prospects of the pot market. So, is it time to add pot stocks British American Tobacco (BTI), Imperial Brands (IMBBY), and Constellation Brands (STZ) to one’s portfolio? Read on to find out….
A growing number of U.S. states are legalizing marijuana. About 44% of Americans live in states where recreational cannabis usage is legalized. Last year, legal cannabis sales hit $25 billion. The industry’s legal sales are expected to reach $40 billion by 2025.
On top of it, a U.S. Senate bill has been introduced for the federal legalization of marijuana, with clear support for comprehensive legalization on the House side. Moreover, Germany’s government is moving forward to legalize cannabis consumption which could create a ripple effect for more legalization.
The global cannabis market is expected to reach $197.75 billion by 2028, growing at a CAGR of 32%. Hence, we think fundamentally strong pot stocks British American Tobacco p.l.c. (BTI – Get Rating), Imperial Brands PLC (IMBBY – Get Rating) and Constellation Brands, Inc. (STZ – Get Rating) might be solid buys now.
H/T: www.stocknews.com
You can view the whole article at this link Is It Finally Time to Shine for These 3 Pot Stocks?
By Anushka Dutta On www.stocknews.com
