Wall Street Analysts Predict a 75% Gain for This Cannabis Stock
StockNews
Published Apr 08, 2021 10:28AM ET
Updated Apr 08, 2021 12:31PM ET
Wall Street Analysts Predict a 75% Gain for This Cannabis Stock
Canadian cannabis producer Village Farms International (NASDAQ:VFF) stands to gain significantly from the potential federal legalization of marijuana in the United States. However, although President Biden is an advocate of federal legalization, there is yet little measurable progress on that front. Under these circumstances, will VFF stock be able to live up to Wall Street analysts' performance expectations? Read more to find out.Wall Street has been betting on the marijuana industry since the election of Joe Biden as the U.S. President, given his advocacy of the decriminalization of cannabis. Canada-based marijuana and fresh foods producer Village Farms International, Inc. (VFF) is a case in point. The stock has gained 349.3% over the past year, and 22.3% year-to-date.
The stock’s impressive price performance and market valuation led to its inclusion in the S&P/TSX Composite index on March 22. VFF’s high market capitalization, nearing $1 billion, and average trading volume of 3.23 million factored into the decision to include the stock in the Canadian index.
With several states legalizing cannabis, Wall Street expects VFF to gain more than 70% and achieve fresh highs soon.
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