The cannabis market has remained extremely lucrative over the past several years given the growing public support and new legal moves being made. Many stocks have come to the forefront because of the new legislation, and they are continuing to show their promise in such a quickly moving industry.
One stock that has continued to excite investors is Canopy Growth Corporation (CGC). The company recently jumped from $1.22 to over $28.12 with 2.6 million shares as of last week. The company also recently has been working with a wide variety of acquisitions and partnerships. Canopy Growth is one of many Canadian cannabis stocks that investors have been watching for massive growth given the pending legalization of cannabis nationwide to be voted upon this summer.
One of the strongest rallies has been in the American cannabis stock market. The company Terra Tech has been working on their operations throughout the U.S. in places like California and Nevada. Terra Tech has reported a revenue of around $9 million, which is mostly filled with the sales of raw cannabis. One statement shows that “In the case of Terra Tech, total equity was reported at $85.7 million, which, after deducting goodwill and intangibles, was $29.6 million (6.4X).” This is a solid case to see the amount of growth potential in the stock for the future. Companies that have been working in the U.S. are working off of the premise that cannabis may be nationally legalized in the coming years, which would completely shift the market in a positive direction more so than it is currently.
One of the most promising stocks in the market has been the introduction of the company MedMen. MedMen has been working to expand their operations throughout the U.S. MedMen is working to offer weed delivery and in-store pickup which will likely help with their hopes of expanding the market. MedMen stated recently that “plans to engage in delivery operations either through the development of its own delivery infrastructure and network or through the use of third-party services focused on the delivery and e-commerce market.” This type of growth is something that has yet to be seen in the cannabis market due to how new it is overall. The introduction of technology into the growing market has been one of the largest changing factors for the growth of the industry. The company added that “an in-store pickup option is currently being developed in-house and will be accessible from MedMen’s website.”
MedMen has been working to build new operations across the U.S. in states like California, Nevada and New York that resemble Apple Stores in terms of their design and approach to building a business. This type of modernization in an industry that has stayed at a baseline for some time now, will likely bring MedMen to be one of the larger dispensary operations in North America.
The cannabis industry is changing very rapidly for the better, and with new legislation and the growing support of the public as mentioned prior, it seems as though there is no where to go for the industry but up. The hopes are high that in the coming years, the industry will be able to somewhat reach its full potential. This will be for the benefit of the patients and those who use recreational cannabis so that they can get the treatment that they need for the coming years. Only time will tell how this new and budding industry will continue to impact the economies of North America for the coming years.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
