Merrill Lynch initiates coverage on the cannabis sector


Since the 2018 legalization of cannabis in Canada, the market seems to have no limits to its expansion. In particular, Mordor Intelligence data shows that the marijuana market was worth $7.7 billion in 2016 but the valuation is astronomic since the turn of 2019. The data anticipates a 37% CAGR such that the valuation of the market by 2023 will hit $65 billion.

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