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What happened to cannabis stocks? - Health Europa Can Be Fun For Everyoneg. brand-new brick-and-mortar stores, e-commerce growth), lower legal market prices, and the introducing of new cannabis-derived products not available to the illicit market," Gomes said. Leisure cannabis sales are projected to account for simply over half the earnings mix for the Canadian cannabis market at $3. 9 billion in 2021, however with more approval and the steady elimination of the illegal market, Gomes projections recreational sales to represent 90.
Meanwhile, medical marijuana sales remain constant throughout the years at around $600 million per year. Gomes pays specific attention to companies in referencing the significance of the marketplace on licensed manufacturers and retailers: Toronto-based independent seller Fire and Flower (Fire and Flower Stock Quote, Chart, News TSX: FAF) and Calgary-based manufacturer High Tide Inc.
In his December 14 analysis corresponding with the business's 3rd quarter monetary outcomes being released, Gomes viewed Fire and Flower in a favorable light with an "Outperform" ranking, coupled with a target rate of $15/share and a predicted 1 year return of 158 per cent at the time of his most current update on the company (December 14).
"We view FAF as one of the long-lasting winners in the Canadian retail area due to their collaboration with Alimentation Couche-Tard, digital capabilities, and strong capital position," Gomes said. On the other hand, in his October 20 analysis, Gomes noted that High Tide had rotated its Canna Cabana shops to a discount rate club retail design, a relocation intended to permit High Tide to compete with other Canadian worth brand names.
5 Easy Facts About Marijuana - Category - Fox Business DescribedGomes provided HITI an "Outperform" rating in his October 20 report and $13. 25 target for a predicted return at the time of 79 per cent. "For LPs, our thesis is that the Canadian market provides a big benefit to the appraisals of mid- and small-caps that execute well," Gomes said.
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