Pot Stocks Might Be Up After the Christmas Recess

Canada’s cannabis stocks might grow appreciably after the Christmas trading break. Just before the holiday closing, the pot sector was feeling quite upbeat, with the Aphria Inc NYSE price notching up by a hefty 14% on December 24. The sector has caught the investors’ interest now for multiple reasons. One of them is that the U.S. stock market was brutally downbeat on Christmas Eve, having the worst pre-Christmas day on record. Investors’ being pessimistic about more conventional assets is due to the U.S. political gridlock, with the country’s President Donald Trump not willing to approve the 2019 spending bill without the Mexico border wall funding. As traders get disappointed about the classical investment instruments, they start eyeing more offbeat segments like cannabis and cryptocurrencies (where a pre-Christmas turbulent growth occurred as well). Another driver propelling the cannabis sector upward is the expectations that marijuana might soon become legal throughout the U.S. Should cannabis be legalized federally across the United States, marijuana growers will have a huge market for their produce. And given that the marijuana stocks have been pulled really far back from the October 2018 highs registered after recreational cannabis was legalized in Canada, there’s a really sizeable room for growth for the pot sector. We can expect that after the Christmas Recess in the U.S. Aurora Cannabis Inc (ACB) might grow to $5.5, while Canopy Growth Corp (CGC) might be up to $27, and Cronos Group Inc (CRON) and Aphria Inc (APHA) might climb up to $10.5 and $6, respectively.
Ivan Marchena, Libertex Analyst

Libertex is an international brand with a twenty years history in financial markets and online commerce. Libertex provides investors with access to trading stocks, currencies, indices, commodities, gold, oil, gas and many other financial instruments. The Libertex team has more than 2,200,000 customers in Latin America, Europe and Asia owing to its first-class service. Libertex has more than 150 commercial instruments. In 2016, Libertex was recognized by Forex EXPO Awards as the best trading platform; and Global Banking and Finance Review named it the best trading application in the EAEU. Libertex is the best trading application and the best crypto currency broker according to Forex Awards 2017.

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This release was published on openPR.