Sector Spin – Cannibis Stocks
By Terry Long December 14th, 2021
Welcome to the Sector Spin with Terry. In this video series, I share with you what I’m watching each week in various Sector industry subgroups.
This week, I’m going to take a look at stocks in the Cannabis industry group. The movement towards decriminalization of marijuana is accelerating. Many states have legalized medical and/or recreational use of cannabis products and several new companies are now reaping significant financial benefits from this movement.
Here is a list of some of the major cannabis players which can be actively traded on US stock exchanges. I’ve got these listed in order of Market Cap. CGC currently has a Market Cap of 12 billion dollars. Innovative Industrial Properties has a $4 billion dollar market cap. It is a REIT that specializes in leasing land and facilities for cannabis growers and refiners. Several of these names may be familiar, but this is still a fledgling industry and there are many companies coming into this rapidly expanding business segment. Please don’t invest blindly, be diligent, and do your own research if you desire to trade or invest in any of these companies.
Many of these stocks have recently seen accelerated interest and rapid price appreciation. Don’t let FOMO drive your strategy, look for reasonable pullback support levels to assess possible entry levels. Let’s scroll down through some of these price charts.