With the increase in state-level legalization of cannabis in the United States and the growing acceptance of cannabis for medical and recreational purposes, investor confidence in the cannabis space has been on the upswing. Also, as federal legalization nears, pot stocks are gaining considerable momentum. Therefore, Cantor Fitzgerald predicts pot stocks Tilray (NASDAQ:TLRY), Cresco Labs (OTC:CRLBF), and Charlotte's Web (CWBHF) will continue to deliver solid upside in the coming months. Read on.The growing support for decriminalization of marijuana at the national level, expanding state-level legalization, and growing acceptance of medicinal and recreational products derived from marijuana are key factors driving the cannabis industry’s growth. Furthermore, the global legal cannabis market is expected to reach $91.5 billion by 2028, representing a 26.3% CAGR.
Investors’ confidence in the cannabis space is evidenced by the Global X Cannabis ETF’s (POTX) 27.4% returns over the past year. Furthermore, the rising popularity of cannabis for its therapeutic uses and increasing demand for anxiety drugs should bolster the pot industry’s growth.
Given this backdrop, Cantor Fitzgerald expects quality pot stocks Tilray, Inc. (TLRY), Cresco Labs Inc. (CRLBF), and Charlotte's Web Holdings, Inc. (OTC:CWBHF) to rally by 35% or more in price in the coming months.