Biotech Bets on the Booming Global Cannabis Industry
Although the biotech sector will be one of the greatest beneficiaries of the legal cannabis movement, the sector has recently been under pressure and this weakness has created significant opportunities for investors.
The iShares Nasdaq Biotechnology ETF (IBB), which is often used to measure the strength of the biotech sector has fallen more than 15% since late September. We expect to see further weakness in the near term as investors continue to take money off the table on account of the presidential election, weakening oil prices and a slowing global growth environment.
Although the market continues to hear how growth around the world has slowed as companies report weaker-than-expected earnings, the cannabis industry has grown at a remarkable rate and this is a trend that should accelerate over the next decade.
Cannabis Biotech Beneficiaries
Although the biotech sector will be one of the greatest beneficiaries of the legal cannabis movement...
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