Cannabis, also known as ‘weed,’ was once regarded as a dangerous drug because of its high THC content. The public’s and the government’s views on the substance have evolved since then. As a result of this shift in public opinion, several countries have repealed laws that made marijuana possession a crime. The plant itself is the primary delivery system for marijuana. Reports at the beginning of the industry indicated that the black market was outselling the white market, which slowed growth. Canada has 2,652 marijuana dispensaries as a result of this change of perspective. Since 2018, marijuana sales have totaled $11 billion, fueled by $29 billion in capital expenditures. Canada’s GDP has been bolstered by $43.5 billion from industry, with $25.2 billion of that coming from direct labor income. In 2020, the global cannabis market was valued at $20.47 billion and had grown at a rate of 50% per year. There will be 32.04 percent growth in the industry between 2021 and 2030, according to the study. Village Farms International, Inc. and Trulieve Cannabis Corp. are among the best-known companies.
Insider Monkey highlights the 10 marijuana stocks to buy in 2022. The Canadian company TerrAscend Corp. was founded in 2017. In the United States and Canada, it sells medicinal and recreational marijuana. Cannabis products are sold by Green Thumb Industries Inc. in the United States. The company’s product line includes both raw cannabis flowers and processed products like edibles and concentrates. On February 24, 2022, the closing share price of OrganiGram Holdings Inc. was $1.48. This represents a 93% increase over the average analyst forecast of $2.85. Customers in Canada can purchase the company’s products from both retailers and wholesalers. On February 24, 2022, trading in Hydrofarm Holdings Group, Inc. was halted at $19.82 per share. The closing price represents a 102% increase over the analyst consensus price of $40. Earnings per share of $0.07 were reported by GrowGeneration Corp. for the third quarter of the fiscal year, which ended September 30th. Research conducted by Insider Monkey on 924 hedge funds in Q4 2021 revealed that 12 of these funds owned stock in the company. For more details, click 10 Marijuana Stocks To Buy In 2022.
