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3 Marijuana Stocks Wall Street Predicts Will Rally by More Than 70% By StockNews

by Mike Robinson

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© Reuters. 3 Marijuana Stocks Wall Street Predicts Will Rally by More Than 70%

With increasing legalization at the state level and increasing acceptance of recreational and medical use, the cannabis industry is expected to grow significantly this year and beyond. Wall Street analysts are particularly bullish on cannabis stocks like Cresco Labs (OTC:), GrowGeneration Corp (NASDAQ:), and Zynerba Pharmaceuticals (NASDAQ:).While marijuana remains prohibited at the federal level, it has gotten wider acceptance for medical and recreational purposes, with an increasing number of states legalizing its use. In July 2021, top U.S. Democratic Senators presented a draft bill to legalize marijuana at the federal level. This would permit adults to purchase and possess up 10 ounces without risk of criminal prosecution.

The industry will continue to expand due to the growing use of cannabis for both medical and recreational purposes. Grand View Research reports that the world’s legal marijuana market will grow at 26.7% annually to $70.6 billion in 2028.

Wall Street analysts believe that marijuana stocks Cresco Labs Inc., GrowGeneration Corp., and Zynerba Pharmaceuticals, Inc. will rise by more than 70% over the next few months. These stocks could make a good addition to your watchlist.

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