With solid progress on the legalization front and the growing therapeutic and recreational use of marijuana, the cannabis industry has been exhibiting good momentum of late. Hence, we think cannabis stocks Sundial Growers (NASDAQ:SNDL), Aurora Cannabis (NASDAQ:ACB), Endo International (ENDP), and HEXO (NASDAQ:HEXO), which each gained more than 9% in price last week, could be worth adding to one’s watchlist. Let’s discuss.Increasing demand for therapeutic cannabis from an aging population and changes in consumer preferences toward innovative recreational cannabis products have been driving the cannabis industry’s growth. The legal cannabis market is expected to reach $34.91 billion by 2025, registering a 21.39% CAGR.
Cannabis stocks bounced back last week on hopes sprung by a reported Republican-led legalization effort. A report by Marijuana Moment stated that cannabis would be treated similar to alcohol, and raw cannabis would be considered as an agricultural commodity regulated by the U.S. Department of Agriculture (USDA). Both U.S. and Canadian cannabis stocks have skyrocketed on legalization hopes. Indeed, investors’ interest in the cannabis industry is evidenced by the AdvisorShares Trust - AdvisorShares Pure Cannabis ETF’s (YOLO) 17.5% returns over the past year.
Cannabis stocks Sundial Growers Inc . (SNDL), Aurora Cannabis Inc. (ACB), Endo International plc (ENDP), and HEXO Corp. (HEXO) spiked more than 9% in price last week. So, we think these stocks could be good additions to one’s watchlist.