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Weed and fizzy drinks are being eyed up on Wall Street

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Weed and fizzy drinks are being eyed up on Wall Street

Bethan Rose Jenkins, Cannabis News Writer/Editorial

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Cannabis is a hot topic on Wall Street right now, where three cannabis stocks are currently trading on the New York Stock Exchange (NYSE). However, it’s not just weed that’s expected to shake up the stock market in 2019 but also, soda and video games.

Let’s take a closer look at what Wall Street analysts predict for each category this year:

Pot Stocks

Wall Street remains rather bullish on the best post stocks and analysts are optimistic that cannabis stocks will experience major increases within the next year. One pot stock, in particular, is triggering analyst excitement: Tilray (NASDAQ:TLRY).

Tilray’s analysts for the consensus have revealed a one-year price goal of almost 70 percent more than the current price at which this pot stock is trading. One analyst is confident that the stock will swell 150 percent within a 12-month period. Moreover, according to an anti-pot analyst surveyed by The Wall Street Journal, Tilray’s cannabis stock share price stands a good chance of increasing by at least eight percent.

According to a report by Motley fool, one of the most popular cannabis stocks trading on the big U.S. exchanges – Cronos Group – could be a top performer in 2019. Then there is Aurora Cannabis (NYSE:ACB), which is expected to inflate 56 percent over the next year. Aphria (NYSE:APHQF) is also looking to grow by around 50 percent.

Let’s not forget about Canopy Growth (NYSE:CGC), either, which boasted a 238 percent increase in year-over-year revenue for Q3, based on a recent report by Benzinga.

Soda Stocks

Fizzy drinks have always been, and continue to be, a popular choice for drinks consumers. From flavored beverages and energy drinks to alcoholic Kombucha and CBD-infused concoctions, diversity in soda stocks is emerging. Moving beyond the borders of traditional soda-type drinks has become apparent with the rise of legal cannabis.

The cannabis community eagerly awaits the creation of Constellation Brands’ range of cannabis-infused beverages – a deal sealed at $4 billion back in November. Backed by cannabis company Canopy Growth, the partnership will utilize hemp extraction technology to produce cannabinoid-infused beverages using cannabis grown inside Canopy’s brand new facility in New York.

Meanwhile, the securities analyst for HSBC Bank, Carlos Laboy, is keen to find out if Coke wants to sell its equity stakes. Pepsi Co. may have trouble stealing market share from Coca-Cola Co, Inc., after the snack and beverage company just revealed it predicts 2019 adjusted per-share profit will slip three percent to $5.50.

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