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Goldgrbad mood in the cannabis industry
FRANKFURT. The cannabis industry is in a good mood: By 2022, global spending on legal marijuana is expected to triple to 28 billion euros.
A future industry Image: REUTERS
While some signs of deterioration have recently emerged, investors investing in publicly traded cannabis growers have made substantial profits over the past two years. However, since Canada completely abandoned the use of cannabis in October, the world's largest industrial country, prices have dropped somewhat, also due to weaker-than-expected business figures.
"Stocks were an absolute toy for gamers," says badyst Jochen Stanzl of broker CMC Markets. This hype is over. "The question now is how companies in this sector are formed." Because even though investors are turning to the next trend topic in 2019, experts agree that the cannabis sector is on the path to growth, the demand is huge – anyway as stimulating, but more and more for medical purposes.
From the beginning of 2017 to the peak of October this year, shares of industry groups such as Canopy Growth and Aurora Cannabis grew by 670% and 650%, respectively. Since then, however, some of the cannabis companies have contributed more than half of their value to the shipping industry.
Market surveys paint a positive picture and give up on their euphoric predictions: By 2022, global legal marijuana spending is expected to reach $ 32 billion (BFF) and Arcview in the estimation of BDS Analytics and Arcview , against 9.5 billion in 2017 dollars. Only 41% in Canada and California accounted for. California is one of those American states where cannabis use is already legal.
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