The marijuana market has been extremely lucrative for quite some time now but with impending legislation occurring around the world, it seems as though the upside potential in the market is only just beginning. Some polls in the industry have shown that there is an overwhelming amount of support for cannabis legislation throughout the U.S., and this sentiment is continuing to be reflected in the market on cannabis. Some polls have also stated that the cannabis market could potentially reach as high as $25 billion by the year 2021.
The main hearth for growth that many are watching is coming from Canada. Canadian legislation for cannabis has always seemed to reflect that of the people, but the future may end up seeing recreational cannabis legalized on a national level. Canada would effectively become the first developed country to legalize cannabis nationwide.
One of the largest stocks in the medical marijuana industry continues to be that of Aphria Inc. (OTCMKTS:APHQF). Aphria specializes in the growth of medical marijuana as well as cannabis in the form of capsules, vaporizers, and other forms of ingestible cannabis. The company is another one the Canadian giants that is subject to only grow in the coming year as cannabis is likely going to be legalized in the country. The company was also recently granted a license from Health Canada to produce and market medicinal marijuana in the near future. The company has also been working on a massive expansion plan for the future which will help to incorporate the U.S. market into their portfolio. Aphria also recently acquired Nuuvera, a company that will help them to bring their products to the online space.
The Ontario-based company CannTrust Holdings Inc. (OTCMKTS:CNTFF) is another Canadian company to enter the space offering medicinal cannabis. The thing that separates them from Aphria is the fact that they are strictly on the production side of things. CannTrust also works on the research side of the plant, which is becoming extremely important as the market develops its pharmaceutical side in the near future. CannTrust recently announced a venture with the Danish firm known as Stenocare, where they will have a 25% stake. This is the first time that the country has made steps to move into the abroad market as Stenocare is a Danish firm. According to one report “CNTTF stock reported revenue of $21 million, up from $4 million the previous year. It also earned an annual profit of 9 cents per share. Analysts expect the exponential growth to continue. One analyst projects C$111.8 million ($88.27 million) in 2018 and C$285.6 million ($225.5 million) in revenue for 2019.”
Last on the list is the popular company known as Canopy Growth (OTCMKTS:TWMJF). Canopy quickly became the first producer in North America to be licensed to grow cannabis. Founded back in 2014, they are now the largest producer in all of North America with 665,000 sq. ft. of growing capacity and plans to add another 3.7 million sq. ft. The company is also leading the way in terms of U.S. investments. Canopy took a large step back in 2016 when they announced a marketing deal with famed stoner, Snoop Dogg. In more important news, Canopy entered into a partnership with the company Constellation Brands, arguably the largest exporter and producer of alcohol and related products in the country.
The cannabis market is still very much in its infant stages, which means that there is still a large amount of room to grow. The hopes are high that the near future will continue to be positive for the world of cannabis.
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