Cannabis stocks haven't had a great 2019. However, that may change in 2020. Stocks in Cannabis were not their best in 2019, but the following year could be different.
According to a new Pew Research Center survey, over two thirds of the Americans say cannabis should be legalized. Better, only 32% of U.S. adults oppose legalization nowadays, as compared to 52% in 2010. "An overwhelming majority of U.S. adults (91%) say marijuana should be legal either for medical and recreational use (59%) or that it should be legal just for medical use (32%)."
Adding to the good news, the House Judiciary Committee just pushed for the Marijuana Opportunity Reinvestment and Expungement Act (More Act).
The MORE act may make its way to the US senate should it pass other committee votes in the House.
Furthermore, as elections draw closer, President Donald Trump stated he would support bipartisan efforts ina bid to ease the federal ban on marijuana.
Put simply, there are many things going for cannabis soon.
The Yield Growth Corporation is One of the Major Beneficiaries, who have been reported to have quite a year.
In the part of this year, their revenue rose 61% to $1.9 million in Q3 2019 compared to $1.2 million in Q2 2019, and rose by 355% compared to $0.4 million in Q3 2018. Overall losses decreased by 55% to $1.9 million in Q3 2019 compared to $4.1 million in Q2 2019, and decreased by 50% compared to $3.7 million in Q3 2018.
Their assets increased by 149% to $6.5 million from $2.6 million at 2018 year-end. Net assets increased by 250% to $4.7 million from $1.3 million at 2018 year-end. Working capital increased by 91% to $3.4 million from $1.8 million at 2018 year-end. The company has worked hard in building its assets, priming itself for growth in the coming years.
Although CBD is a big player in the company’s worldwide growth, mushrooms have also played a part.
A definitive agreement was reached between Eurolife Brands and Yield Growth for distribution of Yield Growth’s line of mushrrom infused products such as coffee through subsidiary Flourish Mushroom Labs Inc.
"We are excited about the potential for therapeutic use of legal edible mushrooms and intend to launch our coffee products in Canada and the U.S. in 2020," according to Penny White, Yield Growth CEO. The CEO added on that they are looking into how to legally develop products from magic mushrooms for medical purposes.
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