Canada’s Green Rush 2.0 Begins Next Week
I won’t sugarcoat things. Pot stocks are in free fall.
We hoped last week’s positive action would breathe some life into buyers, but for reasons known only to the cannabis gods themselves the uptick hit a brick wall and pot stocks are falling again.
The parabolic action is highlighted perfectly by the North American Marijuana Index:
Between the vape crisis, mixed earnings reports throughout the year and a market where the bears are driving the bus, it’s no real surprise pot stocks are, for the most part, mired in the red.
Thankfully, a very important event is about to take place next week. And it could be the tail wind the market needs to put buyers back in control.
Mark Your Calendars, Folks…
Oct. 17, 2019, Canada will unleash a new Green Rush.
Here’s what you need to know.
If you ask most average Joes and Janes, they will tell you that Canada is a nation where cannabis products are 100% legal.
But that’s not the case. As of right now only dried cannabis flower and oils derived from that flower can be sold legally at dispensaries.
As of right now, topicals, edibles, beverages and other extract products are still illegal to buy, sell and consume.
But all that changes this Oct. 17.
That’s the day edibles and extracts become legal, which could create a tidal wave of new profits for cannabis companies.
And in turn hand fast movers who bank on the right companies a tidal wave of profits too.
New Revenue Reaching Billions
Canada is a leading nation in the legal cultivation of cannabis. In many ways they have set the gold standard for how to end cannabis prohibition.
And now with legal edible and extract production nearly here, well-established Canadian companies will have the opportunity to carve out huge shares of a brand-new market.
And that market is going to be huge.
Deloitte recently released a new report and they claim that the edibles and extract market in Canada could be worth up to C$4.1 billion.
Additionally, Deloitte notes consumer spending on other areas (edibles, etc.) will not cannibalize flower profits, as it is expected that edibles and extracts will bring in a swath of new consumers who were previously on the fence.
And that will pump even more money into this industry and in turn offer you the opportunity for big stock gains.
Now’s the Time to Act
We can understand your hesitation on pot stocks right now.
Many of the big names in cannabis are in the gutter today.
Canopy Growth (NYSE: CGC), for example, is one of the most beaten-up stocks of 2019, down over 56% from its April high.
But as a Canadian cannabis leader well positioned in the vertical supply chain for these new products CGC is in a prime position to start raking in tons of edibles and extracts revenue.
Investors could be keying in on this too as we push toward Oct. 17.
The stock saw a nice pop Tuesday, closing up over 2% on the day.
With a Green Rush 2.0 looming in Canada and pot stocks in general being extremely oversold, CGC could now present an opportunity to get back in at ground-floor prices before the next surge.
Fast movers take note. The Green Rush 2.0 starts Oct. 17.
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Chief Technology Expert, Technology Profits Daily