Wall Street Has This Pot Stock All Wrong
No matter how you slice the data, marijuana is expected to be one of the fastest-growing industries over the next decade. Global weed sales have already tripled between 2014 and 2018 and are expected to grow fourfold between 2018 and 2024. The sky really does seem to be the limit for an industry with plenty of demand, but also a lot of black-market activity.
Canada legalized recreational marijuana sales in 2018 and two-thirds of all U.S. states allow medical marijuana prescriptions, so the stage is set for cannabis stocks to thrive -- and Wall Street knows it.
Although consensus estimates for sales and profitability have varied wildly, which we'd expect from an industry with no legal precedent, Wall Street has been pretty consistent with its bullishness. This is to say that many of the brand-name pot stocks -- e.g., Canopy Growth and Aurora Cannabis -- are rated as the equivalent of a buy.
Source Fool.com
