The cannabis market has remained incredibly interesting over the course of the past several months, but new additions to legislation and the changing public perception of the substance have all continued to help shape and reshape the industry. Many companies have also been able to move to the forefront of the industry as outsider investments continue to pour in.
One of the companies that many investors have been watching over the course of the past few months has been CannaRoyalty (NASDAQOTH:CNNRF). The company has been called one of the best under the radar cannabis stocks due to the massive amount of potential it has for the future of the industry as cannabis continues to grow. According to one report “CannaRoyalty is the largest marijuana distributor in the state of California. That’s enormously important since California happens to have the biggest marijuana market in the U.S. — and the biggest in the world.” Although many investors have been watching the state of the Canadian cannabis market due to the impending sales of recreational weed, California has been leading the fight due to the massive size of the industry and the start up culture that has taken over the state. Because of this, many of the companies at the top of the Californian industry, have also been some of the most successful. The company has also stated that they plan to move their operations to Nevada, which will mean cheaper taxes, a new market to work in, and the local exposure to the Californian market that will not change. All of this makes CannaRoyalty one of the top players to look out for in the coming months.
The next company on the list and one that is already a household name in cannabis is the company Canopy Growth Corp. (NYSE:CGC). A large amount of news has continued to come out about the company in the past few months due to their massive bought deal stock offering with the company Constellation Brands (NYSE:STZ). This deal worth around $4 billion has essentially changed the way that cannabis functions as an industry and has since helped to welcome new investors into the cannabis space. The other big deal came when Canopy became one of the first pure play cannabis stocks to list on such a prestigious exchange like the NYSE. This also helped to legitimize the cannabis industry allowing investors who otherwise wouldn’t be involved, to come into the space.
The Canadian cannabis market has continued to be one of the most exciting events for investors to anticipate in the coming months. Legal recreational weed as stated prior is likely to begin being sold as soon as October 17th, which means that companies can continue to expect high demand from the market overall. The other exciting factor comes from the fact that many companies are going to be able to export their product to other markets around the world as well such as the budding industry in Germany and other European nations. The hopes are high that cannabis can continue its reign toward the future as the coming months and years swing by.
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