Setting the stage
On January 28, Jim Cramer provided his five predictions for the cannabis industry in 2019, outlining what he anticipates in 2019. We looked at that list and compared it with our own predictions for 2019, which we released last month in a series titled Top Ten Developments to Watch in the Cannabis Sector in 2019. We’ll look at each of the five items predicted by Jim Cramer and how it compares with our list in this series.
First, for most of 2019, the cannabis industry has given enviable returns, with the ETFMG Alternative Harvest ETF (MJ) gaining nearly 36% YTD (year-to-date) while the Horizons Marijuana Life Sciences ETF (HMMJ) gained about 39% over the same period. On January 28, Jim Cramer called the legal cannabis industry “one of the great growth stories of our era.”
Jim Cramer has been bullish on Canopy Growth (WEED)(CGC), reiterating the company as his top choice on several occasions. See Jim Cramer Reiterates His Stance on Canopy Growth as ‘The One‘. However, it seems that Cramer is broadening his cannabis horizon, calling Cronos Group (CRON) the second-best just last week.
Amid all this, cannabis stocks including Tilray (TLRY), Aphria (APHA), and Aurora Cannabis (ACB) finished solidly in the green on January 28.
With that backdrop, we’ll dive into Jim Cramer’s predictions for the industry next.