Chemdawg marijuana plants grow at a facility in Smiths Falls, Ontario, Canada, on October 29, 2019.
Blair Gable | Reuters
Reddit marketers had a new goal this week: cannabis stocks.
Before falling back on Thursday, Tilray shares rose 50% on Wednesday, while Aurora Cannabis jumped around 20%. Both stocks fell, but remain higher since the beginning of the week.
The WallStreetBets Reddit thread has shed light on a sector that analysts have been seeing for some time, describing it as a “great long-term opportunity.”
In a recent note, analysts at Piper Sandler said cannabis could become a $ 115 billion market by 2030 if recreational use is legalized at the federal level. Even if legalization is not across the United States, the industry’s potential remains “attractive,” reaching $ 50 billion by 2030, the investment bank added. Recreational cannabis use has now been legalized in 15 states in the United States.
Of the major weed stocks of analysts, one in particular was popular among three of the investment firms, while Goldman Sachs pointed to a firm that has been “underestimated” by investors.
Here are the best cannabis options from investment companies.