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New Jersey reached a legalization of marijuana. Three cannabis stocks are worthy of attention.

March 14, 2019 19:14
source: Zhitong Financial Network

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Summary
[New Jersey reached a legalization of marijuana. Three cannabis stocks are worthy of attention] Analysts pointed out that in 2019, the legalization of casual marijuana in North America will continue to expand, and marijuana will become one of the most promising industries. Following Uruguay, Canada became the second country in the world to implement the legalization of recreational cannabis nationwide in 2018.

  AnalystIt is pointed out that in 2019, the legalization of leisure cannabis in North America will continue to expand, and cannabis will become one of the most promising industries. Following Uruguay, Canada became the second country in the world to implement the legalization of recreational cannabis nationwide in 2018.

Recently, political leaders in New Jersey, United States, reached an agreement on legalizing cannabis for entertainment, a move that is expected to make New Jersey in the northeast the 11th administrative district for the legalization of cannabis in the United States.

New Jersey State Council Chairman Steve Sweeney said the agreement would take marijuana out of the underground market for control, regulation and taxation, just like the alcohol after the ban.

Governor Murphy said: "Legaling adult marijuana for adult use is an important step in eliminating differences in the criminal justice system."

  Analysts believe that in the future, marijuana is expected to win more support throughout the United States. The following three cannabis stocks are worthy of investors' attention:

  1, Aurora Cannabis Inc(ACB.US)

In addition to the cannabis legalization proposal in New Jersey, USA, another big news is that Aurora Cannabis Inc has invited billionaire Nelson Peltz as a consultant. Nelson Peltz co-founded in 2005 with Ed Garden and Peter Mayfund Trian Fund Management invests in companies including General Electric and food giant Mondelez International, which invested in the US chemical giant in 2017.Procter & GambleThe company (Procter & Gamble) is worth $3.5 billion.

Nelson Peltz is a respected figure on Wall Street. As a radical investor, he said that Aurora Cannabis Inc is expected to make huge gains in the future. After Peltz became a consultant in early March, Aurora Cannabis Inc's share price rose 15%.

Aurora Cannabis Inc, formerly known as Prescient Mining Corp, is a Canadian-based company whose main business includes the sale of dry medical marijuana.

  2, Hexo Corp (HEXO.US)

Formerly known as Hydropothecary Corp, Hexo Corp is a company that provides products and distribution services to the Canadian cannabis market, focusing on smokeless and traditional cannabis products, providing its own brand of adult cannabis and serving medical cannabis customers.

It is worth noting that Hexo Corp announced yesterday the acquisition of Newstrike Brands Ltd, a wholly owned subsidiary of the company, Up Cannabis Inc. (Up Cannabis) has obtained a permit issued by Health Canada to allow Up Cannabis to sell dried cannabis produced at its plant in Brantford, Ontario under the Cannabis Medical Regulations.

The acquisition will expand Hexo Corp's productivity and help Hexo Corp better position itself in the Canadian cannabis market.

  3, KronosCronos Group Inc(CRON.US)

Last week, Canadian cannabis producer Cronos Group Inc. completed a deal with Marlboro's parent company Altria. After the transaction, Altria said it already owns 45% of Kronos and is expected to take full control of Kronos in the future.

The deal is considered to be a huge win for Cronos Group Inc. Altria is working hard to diversify its business beyond traditional tobacco and expects to focus on producing marijuana in the future.

(Article source: Zhitong Finance Network)

                (Editor: DF406)

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