The Canadian cannabis market has been one of the most important sectors of the industry as whole for some time now. With legislation in favor of the substance, it seems as though Canada can continue to be a test case for how a successful cannabis industry can run in a first world. Many stocks have been able to move to the forefront of the market amidst the new laws, and the success they have seen will hopefully help to create a domino effect in the greater cannabis financial space.
One of the companies that many have been watching throughout the investment space has been Canopy Growth Corp. (NYSE:CGC). The company first made headlines as one of the first companies to list on such a prestigious U.S. exchange as the NYSE. In addition to making headlines, the company was able to help bring a large amount of notoriety to an industry that had sometimes gotten a bad rap in the past. With their listing on the NYSE, many individuals who decided not to invest at the beginning of the market, have decided to do so. The company has been hailed as one of the cannabis stocks that has the most intrinsic value due to one; their exposure to the Canadian market and two, the amount of product that they are able to create and at which price they can create it.
The company has been gearing up for the October 17th beginning of legal sales of cannabis in Canada, and many investors have continued to gear up as well. Canopy also recently ended their last quarter serving around 82,000 patients in Canada which helped to bring in a substantial amount of revenue at around CA$25.9 million. This amount puts them in the upper tier of companies in terms of revenue in the cannabis space and continues to show a lot of purpose as to why many investors put money in.
The company Next Green Wave (NGW) states that they are a vertically integrated seed-to-consumer producer and reseller of cannabis products. Companies that have been working to become fully vertically integrated have seen some of the most success in the cannabis market and NGW is no exception. The company recently won a series of Cannabis Cup awards and has been stated to be led by a series of experts in the industry. All of this helps to create a solid business model for investors to get behind. In addition to all of this, the company recently stated that they have acquired as much as 15 acres of development land which can help them on their way to building around 350,000 square feet of potential floorspace for cannabis operations. All in all, the cannabis market of recent has continued to be massively exciting amidst the changing regulation and shifting public opinion.
Cannabis as a whole still has a long way to go as a market, but in recent times, it seems as though the industry is going in the right direction. The hopes are high that cannabis can continue its massive reign of success as we move throughout the coming months to years.
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