When Will Pot Stock Sundial Growers Be Profitable?
Though all eyes seem to be on tech stocks, it's marijuana that could surprise and be the decade's most impressive growth story. Throughout North America, the pot industry is budding.
In the U.S., more than 70% of all states have given the green light to medical cannabis, with 15 (soon to be 16) also allowing recreational cannabis consumption and/or retail. According to New Frontier Data, annualized cannabis sales growth in the U.S. should equate to 21% between 2019 and 2025, leading to as much as $41.5 billion in annual awed sales by mid-decade.
Meanwhile, Canada's cannabis industry is showing signs of maturation. Following multiple early stage miscues, important provinces (ahem, Ontario) are opening a number of new dispensaries and alleviating supply bottlenecks. Marijuana-focused research firm BDSA projects that Canadian weed sales can jump from $2.6 billion in 2020 to $6.4 billion by 2026.
Source Fool.com
