{"id":413999,"date":"2021-01-13T08:15:32","date_gmt":"2021-01-13T13:15:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=413999"},"modified":"2021-01-13T08:15:32","modified_gmt":"2021-01-13T13:15:32","slug":"why-experts-believe-2021-is-anticipated-to-be-a-strong-year-for-cannabis-industry","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/why-experts-believe-2021-is-anticipated-to-be-a-strong-year-for-cannabis-industry\/","title":{"rendered":"Why Experts Believe 2021 is Anticipated to be a Strong Year For Cannabis Industry"},"content":{"rendered":"
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Financialnewsmedia.com News Commentary<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n PALM BEACH, Florida<\/span>, Jan. 13, 2021<\/span> \/PRNewswire\/ —\u00a0January 13, 2021 – It’s that time of the year when various articles and reports look back on the U.S. and Canadian 2020 cannabis markets’ performance. Many agree that while both markets performed well in toto they say that the cannabis industry had a strong year with the U.S. markets significantly outperforming Canadian peers. The cannabis sector just finished a strong 2020 with the U.S. market soaring while many Canadian stocks struggled. An recent article<\/a>\u00a0said: “Looking into 2021, we think the theme will continue to play out as the world’s two largest cannabis markets face divergent outlooks. More importantly, within each market, there are certain companies positioned better to thrive and some will continue to struggle.”\u00a0 The article continued: “We expect the U.S. cannabis sector and U.S.-focused ETFs to outperform again in 2021 due to several reasons. First of all, the size of the prize in Canada<\/span> is too small. The Canadian adult-use market reached US$2.5B<\/span> in October 2020<\/span> which is smaller than California’s<\/span> legal market in 2019 estimated at $2.8B<\/span>. The California<\/span> market is expected to reach $4B<\/span> in 2020. While the Canadian market has also doubled its monthly sales during the pandemic, so did the U.S. markets. All in all, the U.S. is a much larger market and it is estimated to be almost 10x the size of the Canadian market.”\u00a0 \u00a0Active Companies active today in the cannabis related markets include:\u00a0 Organigram Holdings Inc.<\/b>\u00a0(NASDAQ: OGI) (TSX: OGI), Item 9 Labs Corp.<\/b> (OTCQX: INLB), Jushi Holdings Inc <\/b>(OTCQB: JUSHF) (CSE: JUSH)<\/b>, KushCo Holdings, Inc.<\/b>\u00a0(OTCQX: KSHB), Aphria Inc.<\/b> (NASDAQ:\u00a0APHA) (TSX:\u00a0APHA).<\/p>\n

“Secondly, the U.S. market has better regulatory environments for existing players. While cannabis remains illegal federally, more states have legalized cannabis including all five states during the 2020 state ballots (Arizona<\/span>, Mississippi<\/span>, Montana<\/span>, New Jersey<\/span>, and South Dakota<\/span>). Most U.S. states allow for a limited number of licenses which created excellent opportunities for market access and profitability. Most markets are undersupplied which led to explosive organic growth and strong profits.”\u00a0<\/p>\n

\n Item 9 Labs Corp.<\/b> (OTCQX: INLB) Breaking News:\u00a0 Item 9 Labs Reports Record Revenue for Fiscal Year 2020 – <\/b>Annual revenue growth of 65% fueled by increases in production and market demand<\/i><\/b>\u00a0– <\/i><\/b>Item 9 Labs Corp. (“Item 9 Labs,” or the “Company”), a vertically integrated cannabis operator that produces premium products, today reported the Company’s operating and financial results for the fiscal year (FY) ended September 30, 2020<\/span>.<\/p>\n

\n Key Financial Highlights for FY 2020<\/b>\n <\/p>\n