Published on 16 Feb 2022 on Insider Monkey via Yahoo Finance
10 Weed Stocks to Buy in 2022
In this article, we discuss 10 weed stocks to buy in 2022. If you want to skip our detailed analysis of these stocks, go directly to 5 Weed Stocks to Buy in 2022.
2021 was a landmark year for weed stocks. The debate surrounding the legalization of weed advanced to a new level as federal lawmakers took concrete steps towards shaping a bill aimed at removing marijuana from a list of illegal substances. The bill will have support across both sides of the aisle but there is uncertainty with regards to final numbers required to make it into law. There were a lot of mergers and acquisitions (M&A) in the industry as well. According to Viridian Capital Advisors, there were 306 M&A transactions in 2021, compared to 86 in 2020.
Cannabis is already legal in 16 states across the United States and is gaining international recognition as well. Some of the biggest growth opportunities in the sector moving forward are related to the use of technology. Since cannabis is still an illegal substance at the federal level, transactions related to it through the use of digital banking are difficult. Hence, many cannabis firms have started offering cash-on-delivery services. These services raise more than $9 billion in sales per year, per a report by news platform CNBC.