Beyond the Bong
New Pot Stock Index Launches
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– Rebecca Barshop, Managing Editor
American cannabis just hit another milestone.
And this might be the most surprising one yet…
U.S. sales of recreational and medical cannabis are bringing in more money than Fortnite, Goldfish crackers and electronic cigarettes… combined!
And apparently we have an appetite for two things: weed and tacos!
A Case of the Munchies
Americans are buying pre-rolls as much as they’re buying Quesaritos and Beefy Fritos Burritos.
U.S. marijuana sales are currently neck and neck with the annual revenue of Taco Bell!
America’s favorite Mexican restaurant’s parent company, Yum Brands (NYSE: YUM), has long been one of my “munchie” plays on cannabis legalization.
In 2019, shares are performing admirably, up more than 16.5%.
Although, that’s only half of what my other two favorite munchie plays have gained this year.
Mondelēz International (Nasdaq: MDLZ) – the world’s largest snack food company and owner of Oreo and Chips Ahoy – as well as General Mills (NYSE: GIS) – the distributor of Totino’s Pizza Rolls – are each up more than 30% year to date.