The cannabis market has remained extremely lucrative over the course of the past several years, but new updates to the market continue to make the space extremely exciting to watch. With the addition of new legislation and the changing public perception of cannabis, it seems potentially likely that the market will continue this positive run over the next few months to years. Several companies have come to the forefront of the industry over the past year or so, and continue to offer new and innovative technology to consumers looking toward the future.
The first company that has been helping to bring capital into the space has been MariMed (NASDAQOTH:MRMD). The company has been working within the U.S., and has seen its stock skyrocket over the course of the past year or so. According to one report “MariMed focuses primarily on three aspects of the marijuana market. The company develops and operates medical cannabis production facilities that it leases to customers. MariMed provides professional consulting services to help businesses obtain state licenses to operate in the cannabis market. It also distributes its own lineup of cannabis products.” Because of this vertical integration, the company can expect to see the most amount of profitability. The company has also been working to develop a series of various facilities in around around the U.S. in places such as Delaware, Illinois, Maryland and beyond. According to one report, the states that MariMed works in are subject to see as much as $2.8 billion in combined annual marijuana spending, which means that MariMed is poised perfectly to take advantage of this.
The CFO of the company recently stated that they have begun to start their operations in other states as well such as Pennsylvania, New Jersey, Michigan, Florida and Ohio. These states also represent as much as $4 billion in cannabis spending annually by the year 2022. All of these markets combined have offered a large amount of potential for those looking to get involved in the cannabis space.
The next company on the list is Leafbuyer Technologies Inc. (LBUY) Leafbuyer is an online resource for consumers in the cannabis space and has been one of the instrumental pieces to uniforming the cannabis industry. The resource has helped companies to connect with consumers, and has helped consumers to learn and research better what they are purchasing and using. Leafbuyer has also seen their online traffic increase in the hundreds of percents in recent times, which means that they are only subject to continue this massive growth into the future.
The hopes are high that companies like the ones mentioned above, can continue to provide the cannabis space with a large amount of potential for the future. Only time will tell how well they can innovate and reinvent the space as we move toward the next few months to years within the industry.
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