The marijuana stock market has remained with a large amount of volatility for some time now, but as the end of the year comes many businesses are working to up their production for the new year. In the industry, many companies have been able to move onto large exchanges, also known as uplifting and this has had a massive effect on the influx of capital and the amount of business being done throughout the industry. Although many stocks in the past few days were hit by a bout of speculative news surrounding profits, it seems as though things may be back to normal as companies see double digit gains during the end of the trading week.
Next Green Wave (NGW) has been one of the primary companies that investors have been watching for some time now. The company has been based out of California, centered right between two of the largest marijuana markets in the state, Los Angeles and San Francisco. This has allowed them a unique amount of exposure that they otherwise would not have been able to gain. The company has since been working to delve into the Canadian market as well so that they can tap the potential of one of the other most popular marijuana markets in the world. NGW has been able to raise as much as $21 million in capital to produce premium seeds and plants throughout the entirety of the state. Only recently, the company began trading on the Canadian Securities Exchange or CSE, which is a major move that will hopefully help them to secure some much-needed capital to continue moving throughout the future. Their business model of vertical integration has been one of the primary motivators for success as we’ve seen with so many other companies in the space. This allows them to take full advantage of all of the product that they produce given there is no middleman in the way. For all of these reasons, NGW remains one of the more intriguing cannabis stocks to watch in the near future.
The Cronos Group (NASDAQ:CRON) is a marijuana business that should be a household name at this point. The company has been working for some time now at the top of the sector and has since become one of the most important marijuana stocks in the industry. The company recently released their Q3 results, which showed that revenues rose by as much as 186% year-over-year. This was driven by high demand and increased production as well as new channels of distribution for the company. The company has been working to massively scale up their operations for growing cannabis. Cronos recently completed their new facility based out of Ontario which will add as much as 286,000 square feet of growing space to the companies abilities. The hopes are high that Cronos can continue to lead the industry with new ways to grow cannabis at higher yields for the coming months.
The marijuana market has benefitted greatly from legal measures going into place over the course of the past few months to a year. With new changes going into the space on a regular basis, it seems as though marijuana continues to be the market of the future.
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