The cannabis industry has continued to bring with it a whole new slew of investors as new opportunities to rise within the market. New innovation in the space and the changing public perception of cannabis has also helped to change the market drastically over the course of the past few years. Several companies have been able to come to the forefront of the industry as new regulations go into place in Canada set for October 17th.
The company HEXO Corp. (NASDAQOTH:HYYDF) has been one of the most popular stocks with investors over the course of the past few months to a year or so. Recently, they announced a joint venture with the company Molson Coors Brewing Co. The joint venture will hopefully help to continue the interest in beverage companies joining forces with cannabis businesses to produce new lines of cannabis infused drinks. The company recently stated that they have an interest in acquiring a 2-million square foot facility in Ontario. The hopes are that if they acquire this facility, the company will be able to produce large quantities of cannabis which can help fill their business with the supply they need to meet the increased demands of the market.
The company Green Thumb Industries (NASDAQOTH:GTBIF) is another company that has been working hard after a solid month in September. The company was able to grow its sales by around 291% to over $13 million which is quite substantial considering some of the largest companies in the market. The company currently has around 13 locations with plans to open up another 56 stores throughout eight states within the U.S. These states have been planned carefully as a large part of the strategic market plan. The company has also been able to greatly benefit from the upward trends of other larger stocks in the industry. Because of this, they chose to go public back during the middle of June. Of course, they still have a long way to go before they can begin to reach their full potential in the coming months. Investors should, however, wait to make sure that they can continue to be profitable on a recurring basis before they choose to invest, but for now, the company continues to show a large amount of promise for the future.
The last company on the list is the Green Organic Dutchman (TGOD) which has been hailed as being one of the most important stocks to watch as the market is able to continue moving forward in the coming months. Based out of Canada, TGOD has stated that they have been able to benefit greatly off of having a large amount of exposure to the Canadian market. The Canadian industry has been awaiting the sales to begin for legal cannabis which is scheduled to start on October 17th. The hopes are that this will be able to help them continue with the large supply of dried cannabis they have prepared for sale. With new demands in the market, it seems as though TGOD is one of the primary companies to watch as we move toward the future.
Only time will tell how well the cannabis industry can fair amidst stringent regulation and the changing public sphere of cannabis. Things continue for the moment, to look incredibly bright for the future of the market.
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