Cannabis stocks have struggled in the market in recent years. But while the cannabis industry itself is still struggling to gain ground on the regulatory front, plenty of companies outside the industry are benefitting from the rising popularity of cannabis products.
Here are consumer stock plays on the cannabis industry for investors to watch ahead of the Benzinga Cannabis Capital Conference April 11-12 in Miami Beach, Florida.
Delivery And Advertising: In 2022, ridesharing leader Uber Technologies Inc (NYSE: UBER) made history by partnering with Leafly Holdings Inc (NASDAQ: LFLY) to deliver cannabis in Toronto. The deal marked the first major partnership between a major third-party delivery platform and a cannabis company. Leafly shares are down 91% in the past year, but Uber's stock is up 15.8% in that time.
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