With its apparent health benefits and an increasing push for the legalization of marijuana, the cannabis industry is attracting significant investor attention. Because the stigma of association with the plant is being shed at breathtaking speed, it appears that the industry is en route to the mainstream. This backdrop makes Wall Street analysts extremely bullish on Curaleaf Holdings (OTC:CURLF) and Green Thumb (GTBIF). So come on, let’s evaluate these names.The cannabis industry’s changing legal landscape in the United States, which is highlighting the medicinal benefits of cannabidiol products, has been creating a favorable backdrop for cannabis companies. The legalization of recreational marijuana is slowly eking out victories on a state-by-state basis.
As of April 2021, 35 states and the District of Columbia had legalized marijuana for medical use. Sixteen of these states also allow adults to legally use marijuana for recreational purposes. In fact, there is now a growing acceptance of the plant as a legitimate option for patients suffering from chronic pain or seizures. The cannabis market is estimated to grow at a 28% CAGR over the next five years to hit $90.4 billion.
Senate Majority Leader Chuck Schumer said last month that he hopes to see an end to the drug’s prohibition by next year’s 4/20. This has given Wall Street analysts more confidence about the performance of financially sound American cannabis stocks Curaleaf Holdings, Inc. (CURLF) and Green Thumb Industries Inc . (OTC:GTBIF).