Wealth Adviser Highlights A Change In Spotlight: Is It Time For Cannabis To Shine Over Bitcoin?
A Change In Spotlight: Cannabis’ Time To Shine Over Bitcoin Has Come, Trusts This US Advisor
According to a CNBC reporting published Friday, February 22, 2019, U.S Wealth Advisor, Carol Pepper from Pepper International, believes that the legalization of cannabis means it will be the “next huge growth area” in terms of its respective stocks (https://www.cnbc.com/2019/02/22/forget-bitcoin-cannabis-is-the-place-to-go-says-us-wealth-advisor.html).
The Advisor argued that the medicinal properties of cannabis has been positively received by consumers and that its legalization should stimulate investors to consider investing in them. In particular, she shared:
“The medical applications for cannabis are staggering. The research is being done and I really think this is next huge growth area.”
CNBC has also provided evidence in its popularity by mentioning the likes of New York Stock Exchange (NYSE) and NASDAQ, both of which have listed cannabis stocks in 2018.
Canadian companies, Canopy Growth, and Cronos Group, both specializing within the cannabis industry have seen an increase in stock prices since going public, with the former seeing a “65% year-to-date growth” and Cronos achieving “more than 115%” during the exact timeframe.
When possibly asked whether cannabis exposure will follow the same trends of Bitcoin, Pepper supposedly rejected the idea altogether. It seems like her stance on cannabis is associated with its real use cases and how it positively impacts consumer health and the “planet” as she says.
All this being said, Pepper predicts that the industries to excel as a result of cannabis legalization include the likes of the “U.S tobacco and drinks companies.”
While it is true that cannabis and its related compounds such as CBD, CBC, CBG, CBN, terpenes and many others have been significantly explored in recent times, it is interesting to see the claims Pepper has made without proper back-up. This is important to consider as the respective industry is still trying to conduct studies that are reliable enough to say that, yes cannabis is a fit alternative to pharmaceutical drugs.
What are your thoughts on cannabis stocks? Are they likely to outshine the success Bitcoin has attained? Let us know in the comments below!