(You can have cannabis finance content delivered directly to your inbox. Simply sign up here for our weekly MJBiz Finance newsletter.)
In the wake of President Joe Biden’s pardon of those convicted of small amounts of marijuana under federal law, cannabis stocks appeared to be making a comeback, with investor sentiment toward MJ becoming more positive.
But there’s more (potentially good) news for cannabis lurking in the are-we-or-aren’t-we-in-a-recession stories flooding the media.
ADVERTISEMENT
Consider that sin or vice industries (historically gambling, alcohol and tobacco) are generally regarded by investors as defensives that typically outperform other sectors during recessions and can be thought of as “beacons of hope in grim financial times.”
Per Investopedia, “consistent consumer demand for their products helps sin stocks during recessions.”
Cannabis has yet to experience a recession.
The 2008 downturn predates the legalization of recreational marijuana sales by four years. During the COVID-19 boon, same-store
Read full article on Marijuana Business Daily
