The cannabis market as a whole has been growing with a massive amount of ferocity for some time now. With new additions to legislation and the changing public perception of the substance, it seems as though the market is only poised to continue this massive growth into the future.
One of the biggest parts of the market has become the industry on recreational cannabis. California and Canada have both presented vastly different, but large in their own regard, markets on recreational cannabis. Some sales projections have but the North American cannabis industries value at around $12 billion for this year, with those numbers skyrocketing over the course of the next few years to come. States in the U.S. aside from California such as Colorado and Nevada have also been working to increase their markets with new businesses and new methodology toward approaching the cannabis market.
One company that has been outperforming many investors standards has been Nightfood Hldgs Inc. (OTC: NGTF). The company currently has a market cap on the smaller side at around $15 million, but their share prices also remain on the lower side at around $0.36. According to one report on what the company does, “NightFood manufactures and distributes better-for-you snacks specifically formulated to satisfy unhealthy nighttime cravings in a better, healthier, more sleep-friendly way. Future product line extensions may include formats such as NightFood cookies, NightFood ice cream, NightFood bites, and more. In addition, MJ Munchies, Inc. was recently formed as a new, wholly owned subsidiary, to exploit legally compliant opportunities in the CBD and marijuana edibles and related spaces.” The market on edible cannabis products has been increasing with a large amount of propensity toward the future and Nightfood looks to be taking advantage of this sector.
Next on the list and one that should come as no surprise is the company GW Pharmaceuticals (NASDAQ:GWPH). According to one report “GW Pharmaceuticals plc, is a biopharmaceutical company, engages in discovering, developing, and commercializing cannabinoid prescription medicines using botanical extracts derived from the Cannabis plant. The company operates through three segments: Commercial, Sativex Research and Development, and Pipeline Research and Development.” The company has been working to completely transform the space on cannabis in the world, and has managed to create various new drugs using components of the marijuana plant. The sector on pharmaceuticals in the cannabis industry has been also growing with a massive amount of inertia forward and GW looks to be perfectly poised to take advantage of this. According to another report “The company also develops and markets Sativex, an oromucosal spray for the treatment of spasticity due to multiple sclerosis. In addition, it develops various product candidates, which are in Phase I and II clinical development for the treatment of glioma, neonatal hypoxic-ischemic encephalopathy, adult epilepsy, and schizophrenia.” All of these put GW in the right spot to continue leading the market on growth in the pharmaceutical sector.
The cannabis market as a whole has been growing a massive amount over the course of the past few years, but this is not to say the industry is still very much in its infant stages. The hopes are high that over the course of the next few years, the market will begin to calm down to allow companies to begin to reach their full potential. With the changing public perception of cannabis and new updated laws regarding what people would like to see, it seems as though anything could happen in the world of cannabis and its subsidiaries.
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