Canadian Legalization by October 17 Creating Sizable CBD Opportunity
This October, Canada is expected to legalize cannabis all over again.
In fact, on October 17, 2019, they’ll legalize CBD edibles, beverages, and topicals, which could create sizable amounts of opportunity.
Here’s why we’re even more excited.
There’s no denying that cannabis has become one of the biggest stories on the year.
Not only did Canada legalize its use in recent months, more U.S. states have approved it for medicinal or recreational use. Corporate America has been forever changed by it, with multi-billion-dollar businesses flocking to meet demand.
Retailers across the nation have been busy stocking their shelves with product.
Even members of Congress have introduced bills to legalize cannabis.
It’s even become one of the top issues for candidates vying for the White House in 2020.
In short, it’s creating a boom that cannot be ignored.
Granted, related stocks have pulled back in recent months on earnings issues, delays, and FDA concerns, but the long-term opportunity is still a substantial one.
Better, over the next two months, Canada will be a substantial catalyst – AGAIN.
In 2018, Canada legalized dried cannabis flower, oils, and sprays.
However, they left out CBD edibles, beverages, and topicals. The good news is that’s expected to change on October 17, 2019 – the day Canada is expected to legalize these products for recreational distribution.
Even better, according to a 2018 survey from Deloitte, up to 60% of Canadians would use cannabis edible products. Plus, the market is expected to grow substantially from a $200 million market in 2016 to more than $1 billion by the close of this year.
It could rocket as high as $3 billion by 2021. Others believe it could run to $24 billion by 2023 just in the U.S., according to analysts at the Brightfield Group.
By October 17, 2019, we could see further reason for excitement.