\For the most part, marijuana stocks have been a force to be reckoning within the last 12 months. Only two out of the 12 biggest cannabis stocks by market cap declined over the last year. Mostly we have seen their market caps double and triple in value. There are many catalysts behind this green rush boom that we are seeing.
To start, we’ve seen a drastic change in the perception of cannabis in the eye of the public in the U.S. Just over 20 years ago, only 25% of the population wanted to see marijuana legalized nationally. Now, according to Gallup more than 60% want to see marijuana legalized, a record high figure. A different survey in April from Quinnipiac University discovered 94% support for the legalization of medical marijuana. With huge support like this, we could politicians in D.C. starting to feel the pressure to get behind the mass legalization movement.
Next, legal sales growth has been on a tear. ArcView, a cannabis research firm reported that North American retail sales growth had a 34% increase last year, and anticipates that the median growth rate through 2021 could be at 26%. This means that the legal marijuana market in the U.S. is on pace for almost $22 billion in sales.
Also, we have to take into consideration that now 29 states across the United States have jumped on board the legalization train either through medicinal or recreational. Collaboration between growing popularity amid consumers and growing sales figures, the marijuana industry presents huge upside potential.
Here are two marijuana stocks you should have on your watch-list: GW Pharmaceuticals plc, (NASDAQ: GWPH), mCig, Inc. and mCig, Inc. (OTCMKTS: MCIG).
GW Pharmaceuticals plc, focuses mainly on pediatric epilepsy, which is why the company relies heavily on the success of its drug Epidiolex. Epidiolex is a drug that treats Dravet syndrome, a disorder that causes epileptic seizures in the first year in a result of Lennox-Gastaut syndrome and tuberous sclerosis complex.
In the last month of trading (GWPH) has seen price movement between $99 and $118. In the last week, the stock has eased around $100 per share.
In order for GWPH to have any chance of success it must do three things;
1) Management needs to complete the New Drug Application (NDA) for Epidiolex. It was supposed to be done by the end of June but got delayed until October.
2) There needs to be a positive sentiment coming from management around the approval.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
