Vivien Azer, an analyst at the widely renowned stock research firm, Cowen & Co, firmly believes that large companies will enter into cannabis this year. Vivien also placed a new estimate on the cannabis market to reach $80 billion by 2030.
The cannabis companies that Azer mentioned may strike a deal with tobacco and alcohol giants, as the giants seek to add to their business models to accommodate for their decline in sales. The decline in tobacco sales (watch out, Altria investors) is due to shifted public opinion on tobacco & alcohol use, the availability of vape alternatives, and the increase in recreational and medical cannabis states.
Diageo (OTCMKTS: DGEAF), who manufactures known brands such as Baileys, Johnnie Walker, Ketel One, Smirnoff, and Guinness, is one of the big companies that Azer says “she would not be surprised to see” to make a deal and enter the cannabis market.
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