After grappling with various headwinds, including the pandemic and challenges related to legalization, the cannabis industry may be turning a corner. The proven medicinal properties of cannabis, its legalization, active research into genetic development and modification of the plant, and advancements in intellectual property rights have played a role in its resurgence.
Fueled by decriminalization and legal adoption of medical or recreational cannabis in several countries worldwide, the cannabis market is projected to grow at a 15.4% CAGR between 2022 and 2027. The recent optimism surrounding the industry is also evident from the 14.1% returns of the AdvisorShares Pure US Cannabis ETF (MSOS) over the past month.
