Cannabis companies are finally feeling like this is their moment to shine.
Beleaguered cannabis stocks could become this year’s darlings of defensive stocks. While hotels and restaurants have closed, the food chain got disrupted, auto sales dried up, cannabis sales are humming along. That isn’t to say all the companies are operating in tip top shape, far from it, but many are feeling like their ship has come in.
After years of fronting huge cash investments, regulatory challenges, and delays on legislation and licensing, cannabis companies are finally feeling like this is their moment to shine. Getting deemed an essential service in many states was just the shot in the arm that dispensaries and producers needed.