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Analyst tracks 11 states looking at adult use cannabis sales

35282 analyst tracks 11 states looking at adult use cannabis sales

Alliance Global Partners analyst Aaron Grey said he’s tracked 11 U.S. states considering adult use cannabis sales, despite a lack of progress on the federal level. “While questions around the prospects for federal cannabis reform remain, state by state momentum continues,” Grey said in a research note. Connecticut, New York, Virginia and New Jersey are expected to also begin adult-use sales through 2023-2024, he said. “We believe this momentum will continue for years to come.” The AdvisorShares Pure US Cannabis ETF MSOS, +3.09% is down 21.5% so far in 2022, compared to a 12.2% loss by the Nasdaq Composite.

Source: Marketwatch

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