Why Analysts are Projecting $75 Billion Cannabis Market by 2030

Financialnewsmedia.com News Commentary

PALM BEACH, Florida, March 14, 2019 /CNW/HalcyonTV -- Recently, retail and online cannabis has had good news and bad news. The good news is that sales numbers continue to increase and projected revenues keep trending upward and that they keep selling out their inventory selling out their inventory is also the bad news! This situation interests' investors. A recent article from Wall Street analysts said: "The "green rush" has fully gripped Wall Street and investors. Even with a recent pullback, many of the largest publicly traded marijuana stocks by market cap have seen their share prices soar by more than 1,000% over the trailing-two-year period.  Instrumental to this surge in pot-stock market caps is a steady shift in the way the public views the drug. Gone are the days where cannabis was considered too taboo for discussion. The marijuana industry could be much bigger than you realize According to (an article) published (by market insiders said) the total cannabis market could generate as much as $75 billion in gross annual sales by 2030, up from a previous forecast of $50 billion by 2026."   Active Companies from around the market with current developments this week include:  ParcelPal Technology Inc., (CSE: PKG) (OTC: PTNYF), Heritage Cannabis Holdings Corp. (CSE: CANN) (OTC: HERTF), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX: TGOD), Khiron Life Sciences Corp. (TSX-V: KHRN) (OTC: KHRNF).
The most pressing problem facing the country's legal weed market is the fact that, in the majority of provinces, suppliers are unable to meet demand. According to MarketWatch, the complexity of scaling up a national legal cannabis supply chain has left many retailers with just a fraction of the promised products. In many areas, the supply shortage may last well into 2019.  Health Canada has added significant resources to attempt to shorten the approval process, but the backlog is significant. In the coming months, we expect to see this supply shortage ease.