Are Marijuana Stocks That Focus on CBD Future Winners or Will They Wreck a Portfolio?

关注CBD的大麻股是未来的赢家还是会破坏投资组合?

2021-09-09 20:00:16 PROFIT

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The Future of the Marijuana Market One of the things that got many investors excited (myself included) about the future of the marijuana industry was that there were so many avenues for expansion. Marijuana companies had a variety of new products to roll out, each with promise to boost their revenues. But in 2021, with several years of the legal pot market in Canada under our collective belt, is it still the case that investors are best served by focusing on pot stocks that deal with (cannabidiol) CBD? Furthermore, should consumers trust CBD made from orange peels? Allow me to explain. Former NFL player Chris Hetherington’s company Peels is an innovator, in that Peels will be the first company to sell CBD oil created from oranges. (Source: “Former NFL Player Launches First CBD Products Made From Orange Peels,” Forbes, August 2, 2021.) Using the orange’s terpenes, the company says it’s able to perfectly replicate the CBD molecule without any trace of tetrahydrocannabinol (THC). Peels also claims that its oil has a more consistent, pure, and stable texture than regular CBD oil. I suppose at this point, we’d be stretching it to call Peels a marijuana company, but it’s certainly a CBD company. Peels nabbed $4.0 million in early investments, but I’m not so much interested in the company itself (though it does offer an intriguing product). Instead, I’m interested in what it means for the overall marijuana market (and marijuana stocks) to have companies like Peels appear. There are many CBD stocks for investors to choose from (most of which don’t use orange peels). The first and most important thing to note is that innovation is still alive and well in the cannabis market. From novel creations of CBD, to developing applications for medical marijuana, to new methods of cannabis consumption, many new products have been rolling out. At one point, cannabis-infused beverages were considered one of the most exciting opportunities in pot stocks. I’ll freely admit that I was one of the proponents, expressing support of Canadian marijuana stocks whenever they partnered with major beverage producers. But, alas, cannabis-infused beverages haven’t exactly caught on (when’s the last time you heard of someone actually drinking one?). To be fair, the product is still young, and there’s still time for growth, but it hasn’t exactly taken the world by storm. CBD stocks, by contrast, have done well, but are they better positioned than traditional marijuana stocks? Consider that the CBD market is expected to grow to $19.5 billion by 2025. (Source: Ibid.) In comparison, the legal marijuana market is set to bring in about $43.0 billion by 2025 (Source: “Legal Cannabis Market Projected To Rack Up $43 Billion By 2025,” Forbes, June 18, 2021.) I mentioned legal, knowing that we’ll probably still see the presence of a marijuana black market for years to come. Pot stocks won’t be able to reach their full potential until the black market is greatly reduced or eradicated outright, a project that will likely take a long time. In any case, it appears that there’s more money to be made from traditional marijuana stocks than from CBD stocks. While CBD stocks do hold great potential, I believe that, overall, they’re weaker than traditional pot stocks, and not just due to their lower market-size projections. The issue with CBD (for me, at least) is that, learning from the cannabis-infused beverage situation, it’s more of a fad than anything else. Is it popular? Absolutely. Is it effective and useful? Many studies point to “yes.” Will it make companies and CBD stock investors a lot of money? I believe so. But can it last? That’s the answer I’m iffy on. In other words, does CBD have the staying power to be more than just a boutique purchase or brief craze and actually become a long-lasting, mainstay cannabis (or orange peel) product? While I believe that CBD stocks can develop staying power, it’s hard to bet on “can” when you know that traditional marijuana stocks will be around forever. Because marijuana has been in circulation for thousands of years, and people have been willing to break the law in huge droves to access the drug, there’s no reason to believe that this swell of people will all drop off when there’s a fully legal market. Quite the contrary; if anything, easier access and freedom from police persecution should help marijuana usage increase. But CBD has the chance of being a fly-by-night product, something that thrills people for a bit but eventually disappears. Pot stocks are much more reliable for the long term, in my view, because we already have decades of market research showing that people really like marijuana. Which isn’t to say that CBD stocks are bad, just that they have more downside than marijuana stocks, in my opinion. What’s more, most marijuana companies have a line of CBD products in addition to their traditional pot products. To me, that’s great. What I’m more wary of is a company that focuses solely on CBD products. I suspect that a company like that is more vulnerable to waning interest in its products than a company that focuses more on traditional marijuana products. Analyst Take While the future of pot stocks holds many innovations in a variety of domains, the fact is that CBD, cannabis-infused beverages, and other less-mainstream products are much more vulnerable to a weakening in interest. Which isn’t to say investors can’t profit from CBD stocks; far from it. It simply means that, if investors are looking for additions to their portfolios that have staying power, it might be better to go with the proven commodity of traditional marijuana stocks instead of CBD stocks.
大麻市场的未来 让许多投资者(包括我自己)对大麻行业的未来感到兴奋的一件事是,有如此多的扩张途径。大麻公司有各种各样的新产品要推出,每一种都有增加收入的承诺。 但在2021年,随着加拿大合法大麻市场在我们的集体腰带下持续数年,投资者是否仍然最好关注与(大麻二醇)CBD打交道的大麻股票? 再者,消费者该不该信任橘子皮做成的CBD? 请允许我解释一下。 前NFL球员克里斯·赫瑟林顿的公司皮尔斯是一个创新者,因为皮尔斯将是第一家出售橘子制造的CBD油的公司。(来源:“前NFL球员推出首款由橘子皮制成的CBD产品”,《福布斯》,2021年8月2日。) 使用橘子的萜烯,该公司表示,它能够完美地复制CBD分子,而没有任何四氢大麻酚(THC)的痕迹。果皮还声称,它的油有一个更一致,纯净,稳定的质地比普通的CBD油。 我想在这一点上,我们会把它延伸到称皮尔斯为大麻公司,但它肯定是一家CBD公司。 Peels获得了400万美元的早期投资,但我对公司本身并不感兴趣(尽管它确实提供了一款有趣的产品)。相反,我感兴趣的是,像皮尔这样的公司出现对整个大麻市场(和大麻股票)意味着什么。 有很多CBD股票可供投资者选择(大部分不用橘子皮)。 首先也是最重要的一点要注意的是,大麻市场上的创新依然活跃。 从《生物多样性公约》的新发明,到医用大麻的开发应用,再到大麻消费的新方法,许多新产品已经推出。 大麻饮料一度被认为是大麻库存中最令人兴奋的机会之一。我可以坦率地承认我是支持者之一,无论何时加拿大大麻库存与主要饮料生产商合作,我都表示支持他们。 但是,唉,大麻饮料还没有真正流行起来(你上次听说有人真的喝大麻是什么时候?)。平心而论,该产品还很年轻,还有时间发展,但它还没有席卷全球。 相比之下,CBD的股票表现不错,但它们是否比传统的大麻股票更好? 考虑到CBD市场预计到2025年将增长到195亿美元。(资料来源:同上) 相比之下,到2025年,合法大麻市场将带来约430亿美元的收入(来源:“到2025年,合法大麻市场预计将增加430亿美元”,《福布斯》,2021年6月18日。) 我提到了法律,知道我们可能在未来几年仍然会看到大麻黑市的存在。在黑市大幅减少或彻底根除之前,大麻库存将无法发挥其全部潜力,这一项目可能需要很长时间。 无论如何,从传统大麻库存中赚的钱似乎比从CBD库存中赚的钱多。 虽然CBD股票确实具有很大的潜力,但我认为,总的来说,它们比传统的pot股票弱,这不仅仅是因为它们的市场规模预测较低。 CBD的问题(至少对我来说)是,从大麻饮料的情况中学习,它比其他任何东西都更流行。 流行吗?绝对的。它是否有效和有用?许多研究指出“是的”。它会让公司和CBD的股票投资者赚很多钱吗?我相信是的。 但能持续下去吗?这就是我不确定的答案。 换句话说,CBD是否有耐力不仅仅是一种精品购买或短暂的热潮,而是真正成为一种持久的、主要的大麻(或橘子皮)产品? 虽然我相信CBD的股票可以发展持久力,但当你知道传统的大麻股票将永远存在时,很难打赌“能”。 因为大麻已经流通了几千年,人们愿意成群结队地违法获取这种药物,所以没有理由相信,当有一个完全合法的市场时,这种激增的人会全部减少。 恰恰相反;如果有什么不同的话,更容易获得和免受警察迫害应该有助于大麻使用量的增加。 但CBD有可能成为一个过眼云烟的产品,让人们兴奋了一会儿,但最终消失了。 在我看来,大麻库存从长远来看要可靠得多,因为我们已经有几十年的市场研究表明,人们真的喜欢大麻。 这并不是说CBD股票不好,只是在我看来,它们比大麻股票有更多的下行空间。 更重要的是,大多数大麻公司除了传统的大麻产品外,还有一系列CBD产品。对我来说,那太好了。 我更警惕的是一家只专注于CBD产品的公司。我怀疑像这样的公司比更专注于传统大麻产品的公司更容易受到人们对其产品兴趣减弱的影响。 分析员采取 虽然大麻库存的未来在各种领域都有许多创新,但事实是,CBD、注入大麻的饮料和其他不太主流的产品更容易受到兴趣减弱的影响。 这并不是说投资者不能从CBD股票中获利;远非如此。这只是意味着,如果投资者在他们的投资组合中寻找有持久力的补充,最好选择传统大麻股票而不是CBD股票。

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