Merrill Lynch initiates coverage on the cannabis sector

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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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