Marijuana Stocks In 2019: Time To Separate 'Winners From The Sinners'
For the marijuana industry, observers say, 2019 will be a year of reckoning after Canada's marijuana stocks implode. Or, it might be the year of better U.S. banking laws, kicking open the gates for expansion. Maybe it will be the year of CBD, after the 2018 Farm Bill legalized industrial hemp. Or, it will be the year of CBN, or THCV, or other cannabis compounds you haven't heard of yet.
Whatever combination of the above 2019 will be, worldwide consumer spending on legal cannabis is expected to jump 40% to $18.1 billion next year, according to Arcview and BDS Analytics. The research firms expect $14.4 billion of that to come from the U.S., where cannabis isn't even federally legal but the market is nonetheless the biggest.
The DEA in September moved some FDA-approved CBD products to the less restrictive Schedule 5 category. But the new farm bill wouldn't change FDA policy preventing CBD from being marketed as a dietary supplement, said Patrick Goggin, a senior attorney at Hoban Law Group.