Cannabis stocks could race to higher highs in New Year 2022, including Xebra Brands (CSE:XBRA)(OTCQB:XBRAF), Aurora Cannabis (NASDAQ:ACB)(TSX:ACB), Canopy Growth (TSX:WEED)(NASDAQ:CGC), Tilray Inc. (NASDAQ:TLRY)(TSX:TLRY), and OrganiGram Holdings (NASDAQ:OGI)(TSX:OGI) thanks to substantial catalysts.
For one, in the U.S., Congress could decriminalize cannabis this spring. In fact, according to The Hill, federal proposals could establish banking services for the cannabis industry, and purge the criminal records of marijuana offenders. Two, a growing number of Americans want to see cannabis legalization. According to a Gallup Poll, for example, 68% of U.S. adults support it.
Three, according to analysts at Prohibition Partners, global sales of CBD, medical, and recreational cannabis sales topped $37.4 billion in 2021, and could be on course to see $102 billion in sales by 2026. Even analysts at Vantage Market Research say the global market could run to $128.92 billion by 2028.