Marijuana stocks have been around for some time now. With the years that the market has behind its back, it seems as though cannabis stocks are just now beginning to reach their full potential. Some studies have shown that the market could grow by as much as 35% per year throughout the next three years or so. This means that there is still a lot of room to grow.
As far as the U.S. is concerned, many states have chosen to legalize the substance. This means that the U.S. has remained one of the largest marijuana markets in the world. Although there is no legislation on the federal level to support the industry, marijuana stocks in select states have been able to flourish. Aside from the U.S., Canadian marijuana stocks have all but taken over. These companies represent some of the largest in the marijuana stock industry now and potentially moving forward.
The Second Largest Market Cap Marijuana Stock
Aurora Cannabis (NYSE:ACB) is the second-largest marijuana stock in the world. The company currently has a market cap north of $3.5 billion. The company recently acquired CannaMed Therapeutics, which came in at the largest acquisition in the history of marijuana stocks. With around 300,000 kilograms of cannabis able to be produced, they remain at the top.
The company has its flagship Aurora Sky facility taking the brunt of the work. When this facility is completed, it should be able to produce around 100,000 kilograms of cannabis. Additionally, they have made big moves in Denmark, opening the Aurora Nordic project. This should net them an additional 120,000 kilograms of marijuana per year. With these incredibly sized facilities, the company is lowering their cost per-gram like no other.
A Play for the Pharmaceutical Side of Marijuana Stocks
GW Pharmaceuticals (NASDAQ:GWPH) is another one of the largest marijuana stocks in the world. The company has a value of around $3.1 billion which is quite hefty. With their main product, Sativex, recently receiving approval from the FDA in the U.S., they definitely remain a company to watch. Their drug, which famously received the first approval for a cannabinoid-based pharmaceutical, is considered to be groundbreaking.
The substance offers treatment for those with rare forms of epilepsy including Lennox-Gastaut Syndrome and Dravet Syndrome. Neither of this has another FDA approved treatment. This means that they have a distinct opportunity to capitalize on a very large part of the market. While they still have a long way to go, GW Pharmaceuticals represents a large alternative marijuana stock for investors to watch.
All in all, cannabis stocks remain some of the most interesting in the world. With so much leaning on the future, the present remains extremely exciting. The hopes are high that we can continue to see growth despite lacking legislation in many parts of the world. Only time will tell how well these companies can compete amidst fervent competition moving forward.