High growth US cannabis sectors that every investor should know about
The biggest cash crop in the USA is cannabis. The crop revenue is bigger than wheat, cotton, and corn. It is valued at roughly $142 billion, and that is almost double that of coffee which is deemed as one of the most valuable commodities on the planet today. The reality is that marijuana is no longer the legacy drug that is bought on the dark shady corners from those deemed as criminals. Today it is a viable industry that enables investors to reap huge profitable benefits. Are you a reaper?
There are some important sectors that every investor should take a look at
Over the past year, there has been some impressive growth within the cannabis space, and the trend is expected to continue into the future. The main driver for the growth of the cannabis market is a change in the regulations that exist today for both the recreational and medicinal markets. The performance of the cannabis industry is a testimony of the strength the cannabis stocks are showing.
Arizona
This state is one of the biggest medical marijuana markets in the US. Recent polls indicate that 65% of Arizonians favor Arizona marijuana to be of legal statute. Vext Science, a leading cannabis operator in the state, is expecting positive moves due to the changes in regulations. Since the start of the deadly COVID-19 virus an additional 25,000 people have enrolled as medical patients. Positivity surrounds the market as it continues to grow during these difficult times. The company Vext is proving to be an eye-catching business to look out for.
New York
New York was the epicenter for the COVID-19 pandemic, where many thousands of dollars have been allocated to fighting the virus. The costs ensued are massive and the legalization of recreational cannabis may move forward more quickly because of it. The governor of New York Andrew Cuomo is on board and willing to legalize cannabis.
This is seen as a catalyst too for all of the United States. New York issued a limited number of medical cannabis licenses which leaves a lot of people without their much-needed medicine. The legalization of cannabis in the state will help to ensure all cannabis business's ability to capitalize on the market.
New Jersey
Late 2019 saw this state's two legislative houses vote in favor of putting a constitutional amendment on this November’s presidential ballot which would see the legalization of cannabis. The passing of this bill seems to be the needed catalyst for this state. The proximity to New York spurns the movement. A recent poll conducted by Monmouth University revealed that more than 60% of the New Jersey voters are in favor of the legalization of recreational cannabis.
The dreaded COVID-19 although deadly to some, may prove to play a vital role in gaining added support for the cannabis journey. New Jersey is hoping to see the ballot on the November polls. The state may be small in size but has a dense market with a large population. A few large cannabis companies have their eyes on this state and have acquired assets within New Jersey. As the year continues, New Jersey is set to see an increase in activity in the cannabis space.
