The global pandemic has made the situation even worse, and investors now are looking for companies that will simply survive. There are only two names in the legal-marijuana sector that investors can look to for relative safety.
Cannabis dispensaries saw their sales soar by double digits. One company dealt with hour-long lines at its Pennsylvania stores. In California, for instance, daily sales were up by more than 50% during the first few weeks of March and reached a peak of 159% mid-month.
Jamie Pearson, CEO of California-based Bhang Inc, which makes cannabis-infused beverages, chocolates and other products, said sales were booming and should boost revenue and profits this quarter.
Roy Bingham, CEO of cannabis market research firm BDS Analytics, said he expects the industry to not only ride out the coming economic storm but continue to grow. His firm has yet to revise its prediction of a 30% jump to $17 billion in U.S. retail sales for 2020. “First, you have this existing core demand; 65% of cannabis consumers consume on a daily basis,” said Bingham. “And now you have people who can’t go to the gym or the bar and are locked up at home, where about half of all cannabis consumptions happens anyway.”
TransAtlantic Capital Inc. (OTC: TACI) is a stock to consider for the big 2021 rebound
TransAtlantic Capital Inc.(OTC: TACI) An emerging diversified investment vehicle focused on three key industries. -Housing The Caribbean/African market place has the fastest growing middle class worldwide. -Maritime Shipping 90 Percent of all global trade happens via Water. -Agriculture encompassing. Cannabis, Hemp, Psilocybin grow processing and research in legal global Markets.
The company recently signed land deal for 250 acres to grow cannabis and psilocybin
mushrooms in Jamaica.
This 250 acre parcel will allow the Company to create and build the largest cannabis and magic mushroom” operation in the carribean . This facility could produce upwards of 100k pounds annually for export to licensed countries throughout the world.
“We are truly now, beginning to dig in,” stated Julius Jenge, Chief Executive Officer of TACI , Inc. Our commitment to research, production and distribution of psilocybin mushrooms, and cannabis is now a reality, effective today after acquiring the Clarendon Jamaica property. We now have a very solid plan in place, and we anticipate great things coming to fruition.”