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President Trump Firing Jeff Sessions Could Mean More Green for These Cannabis and CBD Stocks
President Trump Firing Jeff Sessions Could Mean More Green for These Cannabis and CBD Stocks.
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[{"type":"text","content":"\nResults from Tuesday’s Elections Making US More Friendly to Marijuana Industry\n NEW YORK, Nov. 08, 2018 (GLOBE NEWSWIRE) -- Cannagreed.com News Commentary based on the results of Tuesday’s election, It's just a matter of time before marijuana will become legal in all 50 states. A recent poll shows 93% of Americans are now in favor of legalization. And this poll doesn’t even account for the popularity and growing demand for CBD infused products, which will be legal in all 50 upon the imminent passage of the 2018 Farm Bill.  According to a recent report issued by New Frontier Data, the U.S. CBD industry grew by nearly 40% in 2017, reaching $367 million in sales across hemp-derived (CBD) products. This marks the first year that sales of hemp-derived CBD products outpaced marijuana-derived CBD products. Surging demand is expected to lift the industry higher; 2019 will be a break-out year for CBD, with the total market expanding to over $500 million in sales. The CBD industry will grow to $1.2 billion by 2020, and nearly $2 billion by 2022. The entire legal cannabis industry is expected to hit $57 billion by 2027. With the legalization efforts in Michigan, Missouri, and Utah being successful from Tuesday’s election and yesterday’s announcement that Jeff Sessions has resigned from his post, the cannabis and CBD sector is poised to take off after a slight pullback after the Canadian legalization and run up to the midterm elections. With share prices down from earlier 52-week highs, there are many stocks that offer an attractive investment in the sector. Aurora Cannabis Inc, the Canadian cannabis company which recently listed on the New York Stock Exchange, announced on Tuesday that it made an investment into Choom Holdings. The investment in Choom Holdings gives ACB more exposure to the Canadian marijuana retail segment, as Choom aims to become one of the largest adult-use cannabis retail networks in the country. Choom has obtained rights for 45 locations across Western Canada, which includes 27 development permits and 18 building permits in various cities. New Age Beverages Corporation the US based beverage producers which announced in September its expansion into CBD infused beverages, rose over 20% on the results of the election and the news of Sessions resignation. NBEV doubled its sales from 2...