Which Global Cannabis Stocks Are Flying High

Cannabis stocks listed on the ASX and US markets have been in the doghouse for many years amidst oversupply, lack of differentiation for investors, and general haze. In the US, pot stock prices are flying high.

In Australia, despite record numbers of Aussies accessing medical cannabis and higher revenues for producers but not necessarily higher profits, listed companies on the ASX have been down for the count.

Whether the ebullience in the US translates across the ocean or is a harbinger of change in Australia is too early to tell.

US industry

There has been a significant shift in the regulatory landscape.

The U.S. Drug Enforcement Administration’s reassessment of cannabis’ Schedule 1 status potentially as a drug for medical conditions has been a catalyst.

The Health and Homeland Security’s (HHS) recommendation to soften federal restrictions paints a promising picture for cannabis stocks ahead.

Analysts have painted a strong compound annual growth rate (CAGR) of 25% through to 2027 as a result.

Undeniably, US cannabis (or pot stocks) as they are more readily called have risen from the floor in the past three months. ETFs that are in the space have also surged in the past two months.

US Cannabis Share Price Gains:

Curaleaf Holdings (OTC: CURLF) +117%
Green Thumb Industries (OTC: GTIL) +98%
Innovative Industrial (NYSE: IIPR)
Trulieve Cannabis (TRUL.CN) +208%
Cresco Labs (PINK: CRLBF) +124%

US ETF Cannabis Price Gains:

Amplify U.S. Alternative Harvest ETF (NYSE: MJUS) +34%
Roundhill Cannabis ETF (CBOE: WEED) +101%
AdvisorShares Pure US Cannabis ETF (NYSE: MSOS) +98%

Of course, it’s not all plain sailing. US cannabis stocks went through a torrid time for many years and only now showing some recovery.

Canada

It is a different story across the border from the US where Canadian cannabis stocks have not shown any life. This is much the same situation as in Australia.

There are similarities between the two countries in terms of strong growth in medical cannabis patients over the years. As well, issues that confront the Canadian sector are also prevalent in the local sector.

For now, though, the US pot/cannabis sector is alight.

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