Legal cannabis is the fastest growing industry in the United States, period. Over 23,000 studies have boasted the benefits of medical cannabis for every kind of patient out there. All of that data, coupled with the fact that there have been no reports of anyone being killed overdosing on Marijuana, makes it a very attractive sector to be looking at right now. According to MedicalMarijuanaInc., the U.S. marijuana industry alone has a valuation of $7.1B and growing, with 89% of Americans supporting marijuana use, and 25 states backing those beliefs. The state of Colorado made $996 million on recreational and medical marijuana in 2015 alone. This industry is ready for innovative companies to take advantage of its growing capital.
Although the United States has been battling the war on legalization for decade, legalized marijuana in Colombia, and South America in general, is a fairly new occurrence. Colombian President Juan Manuel Santos decided to legalize cannabis in December, as an effort to combat the war on cocaine. Now marijuana possession is legal for up to 22 grams for personal use, with no limit on medical and scientific purposes. For cultivation, it is legal for up to 20 plants for personal consumption, with no limit on medical and scientific use, and the sale and transport is legal for medical and scientific use. Colombia wants to ditch their violent cocaine cartels for a substance with room for tremendous growth, especially since they have the perfect environment for the drug. This means that medical marijuana is available to the entire country of Colombia, and all the people in it, compared to limited states in the U.S., which has taken a toll on American-based companies.
As the marijuana industry is booming, the laws in the United States are stalling, dulling all of the marijuana companies and making them practically indistinguishable. Colombia however, has seen this trend and is using their lax laws to create unique companies that have potential for large growth. The first to break through is New Colombia Resources, Inc. (OTCPK: NEWC), a Colombian company that focuses on the acquisition and development of high-quality metallurgical coal properties. The company uses coal and other available resources in the Republic of Colombia, and thanks to a recent joint venture with Sannabis SAS, has begun to distribute marijuana products to benefit the population. With the perfect climate and marijuana laws providing an easy cultivation environment, and their listing in the United States, NEWC has positioned themselves to emerge to the forefront of the cannabis space.
That being said, in the last week of trading, the company has seen a price per share increase of 50% from lows of $0.01 on July 19th, to it’s current trading price of $0.015. The company has also seen a significant increase in trading volume over the last week as well.
We are also watching these cannabis companies closely:
CARA Therapeutics Inc. (CARA): Over the last two trading days, CARA has seen a price movement of 38.88% from lows of $5.04 to highs during Monday’s trading of $7.00.
mCig, Inc. (MCIG): Over the last seven trading days MCIG has reported 22.51% gains seeing highs on Monday morning’s trading session of $0.037.
Cannagrow Holdings (CGRW): In the last week of trading has experienced a 20.68% pps increase from lows of $0.58 last week to highs on Monday of $0.70.
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