Pot Stocks, also known as the cannabis stocks, are lately picking up under the investment radar across the globe and the buzz could be widely seen post the uptake of legalisation at many parts of the world. In recent years, cannabis has been legalised in more than 50 countries for its recreational and medicinal use. The growing acceptance in US markets and Canada has been the major highlight, having the potential to pilot multi-billion dollar legal business in medicinal cannabis space. The truism that legalisation of cannabis (marijuana) would substantially take up the market demand and global spending has crowned many pot stocks with investors’ choice.
In this scenario, some of the ASX-listed stocks have got the foothold, demonstrating the potential to offer promising returns with better business outlook. Many of the listed companies have secured offtake agreements with Canadian entities, covering current and future planned production. The refund from the Australian Government for research and development activities has further strengthened the financial position of some of these.
Pot stocks are banking on the rapidly growing global legal market that currently stands around US$20 billion and is projected to be more than ~US$200 billion by 2027, as projected by key market players. The growth is harnessed on the continued momentum in the legalisation of medicinal cannabis.
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