The 2019 year has already shown a large amount of promise for the future of the cannabis industry. This Thursday, January 10th especially characterized some of the largest stocks in the industry seeing quite sizable gains. Some of this can, of course, can be attributed to news at a greater scope than that of the cannabis market. But this can also be attributed to the shifting opinions of the public in the U.S. and abroad.
Shares of the Green Organic Dutchman (TGODF) (TGOD) managed to rise by as much as 14% during the past few days. At market close on Thursday, TGOD was already up by as much as 4% shooting up with a high amount of shares traded as well. TGOD has managed to remain one of the key players in the Canadian cannabis industry by producing extremely high quality, organic products for sale throughout Canada and beyond.
The company is working to continue their production of oils, edibles, and seeds for sale on the open market as well. All of this can be noted as a large contributing factor of their gain during this week’s trading but the one important thing to keep in mind is that the Green Organic Dutchman has a high correlation with some of the biggest pot stocks in the industry. As the saints like Tilray and Canopy also rose, it is interesting to note that TGOD correlates to this greater market demand. As they work to continue upping their production of cannabis, that correlation should continue to get higher.
Aurora Cannabis (NYSE:ACB) also saw a great trading day during the second week of January. Aurora managed to rise by as much as 9% on Thursday as expectations into the future continue to rise. The company has stated that they expect their revenue to reach as high as $55 millions for data coming in for the end of last year.
Aurora has also stated that their production of cannabis could reach as much as 150,000 by the middle of the 2019 year which is quite a feasible goal. This goal is realistic considering Aurora has already managed to shoot up from 70,000 kilograms to over 100,000 kilograms in only a short period of time. Aurora remains as one of the industry leaders to watch as they continue to strive to meet their production goals of the coming year. Aurora has also been able to benefit from their somewhat recent entrance into the New York Stock Exchange.
Cannabis companies have only recently been able to enter into this market, and it has helped to bring a large amount of much-needed notoriety and trust in the industry. For some time, cannabis has been considered to be quite taboo due to years of opposing legislation. As the market continues to settle down, more and more institutional investors have been able to move into the space. As the year continues to hopefully be positive for the world of marijuana stocks, new legislation and up-listing should be the primary reason.
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