The marijuana stock market has changed drastically in the past few months. In only a short amount of time, we have seen pot stocks skyrocket into the billions of dollars in revenue. Much of this has been in Canada, but recently, the U.S. has been able to take over a lot of the North American marijuana stock market. This article focuses distinctly on the shifting market in Canada as it continues to change into the future.
Where Canada Is At With Marijuana Stocks
Back in the end of 2018, Canada became the first G7 nation to legalize marijuana for recreational use. Although it was groundbreaking, there were definitely a lot of factors that needed changing. Within the legislation, only dried cannabis, cannabis oil, and sublingual sprays were legalized. This means that edibles and other forms of cannabis were not, despite there being a large amount of market share for them.
In the past few months, the amount of legislation has shot up quite rapidly. With so much ready to be changed in the industry, it appears as though new legislation is badly needed. The country recently stated that they will be putting in new laws. The new laws will help solve a lot of the issues that they have run into in the past year or so.
A Cannabis Stock To Watch That Could Benefit From New Laws
Tilray (NASDAQ:TLRY) is a pot stock to watch that many investors have kept their eyes on. The company is considered to be one of the largest marijuana stocks in the industry and for good reason. Based out of Canada, Tilray has seen their valuation skyrocket into the billions in only a short period of time. Tilray has made their name as a pot stock by continuing to innovate and produce new products for sale in the market.
One of the interesting things to note is that the company Privateer Holdings holds around 77% of the stock in Tilray. This is something that a lot of investors have seen as a downside. This, however, has actually helped as Tilray’s price shot up during the month of June. CFO of Tilray, Mark Castenada stated that “we appreciate the long-term confidence that Privateer has in the Tilray business and we look forward to having their investors as part of the stockholder base.” Tilray continues to remain a marijuana stock to watch moving into the near future.
Moving Forward With Marijuana Stocks
The cannabis industry overall and specifically in Canada is one of the most prominent markets of the modern-day. As we continue to barrel toward the future, the Canadian market represents a new and shifting opportunity for pot stock investors to watch.
Only time will tell how this shifting market can affect cannabis stocks at large. Currently, the Canadian marijuana stock market is continuing to rise up as investors show their faith in the industry overall. With cannabis stocks rising, now is time to take a look at the industry.