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These 2 Cannabis Stocks Are Up More Than 30% in 2021

Stock MarketsNov 30, 2021 09:31AM ET
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© Reuters. These 2 Cannabis Stocks Are Up More Than 30% in 2021

Nearly 70% of U.S. adults currently support the legalization of cannabis. And the increasing popularity of cannabis products for therapeutic and recreational uses has been propelling the cannabis market’s growth. Hence, we think cannabis stocks Sundial (SNDL) and OrganiGram (OGI), whose shares have gained more than 30% in price so far this year, could be worth adding to one’s watch list. Read on.The growing demand for cannabidiol oil for therapeutic needs from an aging population, improvement in sleep hygiene, 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.

This month, Uber Technologies, Inc. (NYSE:UBER) announced that it would allow its consumers in Ontario, Canada, to place orders for cannabis on its Uber Eats app. Also, 68% of U.S. adults currently support the legalization of marijuana, and GOP lawmakers are now increasingly supporting broad legalization at the state and federal levels. This support has generated positive investor sentiment surrounding the cannabis market.

Cannabis stocks Sundial Growers Inc . (NASDAQ:SNDL) and OrganiGram Holdings Inc. (NASDAQ:OGI) are up more than 30% in price in 2021. Therefore, we think these stocks could be good additions to your watchlist.

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These 2 Cannabis Stocks Are Up More Than 30% in 2021
 

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