Free The Weed
Recreational pot is expected to account for 95 per cent of the legal cannabis market in Canada after legalisation later this year.
That could lead to a re-assessment by ASX-listed cannabis stocks — most of whom are focused on the medical market.
Analysts are revising upwards the potential market for legal cannabis in Canada and the US.
Marijuana will be a $US6.5 billion ($8.7 billion) industry by 2020 in Canada, according to new research by one of Canada’s biggest banks CIBC.
That’s more than the $US5.1 billion Canadians spent on alcoholic spirits in 2017 — and it’s approaching wine sales. (That’s a worry for alcohol sellers because pot is regarded as a substitute product.)
Still, Canadian forecasts are dwarfed by existing sales of legal cannabis in the United States.
US users are already buying about $US50 billion worth of marijuana a year — a number expected to grow to $US75 billion in sales by 2030, says research firm Cowen & Co.
>> Scroll down for a list of ASX cannabis stocks
Analysts are busy upgrading thier forecasts for pit sales as Canada approaches an expected mid-year legalisation, joining the nine US States (and WashingtonDC) that have already done so.
Previously Cowen & Co predicted US sales would not reach $US50 billion until 2026, Bloomberg reports.
https://unauthorised investment advice/wp-content/uploads/2018/05/Marijuana-index.jpg
Canada’s index of marijuana stocks over the past six months. Source: marijuanaindex.com
Recreational use will dwarf the medical market
Canadians are expected to buy more than 800,000 kilos of marijuana by 2020, CIBC reports.
But the market will be led by adult recreational users — who CIBC predicts will account for 95 per cent of sales.
Medical patients will represent only 5 per cent.
That may lead to a re-assessment by ASX-listed cannabis stocks — most of whom are focused on the medical market.
>> Catch up on *’s coverage of ASX cannabis stocks here
The Canadian private sector will generate more than $US1 billion in earnings on marijuana sales, CIBC predicts.
The bulk of that revenue will flow to producers — companies that cultivate and process marijuana.
Mergers and acquisitions in the sector will continue at a “frenetic pace,” as producers seek to acquire medical expertise and elbow into new markets, CIBC predicts.
Canada is set to legalise marijuana nationwide sometime this year, with retail sales likely to begin in September, depending on the province.
- Forums
- ASX - By Stock
- HGV
- mmj/hvt
mmj/hvt, page-6
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add HGV (ASX) to my watchlist
|
|||||
Last
3.9¢ |
Change
-0.002(4.88%) |
Mkt cap ! $8.202M |
Open | High | Low | Value | Volume |
4.0¢ | 4.0¢ | 3.9¢ | $2.55K | 64.32K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 477336 | 3.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.2¢ | 2000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 477336 | 0.039 |
1 | 26263 | 0.038 |
2 | 58303 | 0.033 |
1 | 135135 | 0.031 |
2 | 250000 | 0.030 |
Price($) | Vol. | No. |
---|---|---|
0.042 | 2000 | 1 |
0.043 | 465116 | 1 |
0.044 | 250000 | 1 |
0.045 | 10520 | 2 |
0.047 | 20000 | 1 |
Last trade - 14.19pm 30/08/2024 (20 minute delay) ? |
Featured News
HGV (ASX) Chart |
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online