Cannabis stocks slide as investors lock in gains driven by hopes that Biden will usher in reforms MarketWatch 1/26/2021
CANNABIS WATCH
Cannabis stocks were mostly lower Monday as investors locked in some of the market’s recent gains amid continued optimism for the sector following record sales in 2020 and as more states look to legalize for adult use, including New York.
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Sales of medical and recreational cannabis set records in mature markets of Colorado and Oregon last year, while emerging markets of Illinois and Ohio got off to a strong start.
California generated $4.4 billion in cannabis sales in 2020, up from $2.8 billion in 2019. California’s legal market launched in 2018.
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