The marijuana stock market recently suffered a pullback along with the rest of the stock market that resulted in some solid drops in some of the larger businesses in the market. Since that time, many companies have been able to bounce back and see their stock prices shoot back up to begin making a much-needed comeback.
Although the marijuana market is still very much rooted in the idea of speculation, it seems as though these pullbacks are happening with less and less frequency, resulting in an overall, smoother running industry.
Next Green Wave (NGW) has been one of the primary players in the industry for some time now as one of the fully vertical seed to sale integrated businesses in the marijuana stocks space. Next Green Wave recently announced the acquisition of the company Loud Seeds inc., whose award-winning production of marijuana seeds has made them a big name in the growing side of the cannabis market.
The company also announced recently that they are continuing to up their supply of cannabis to have an advantage over competitors in the market, offering medicinal and recreational cannabis to dispensaries around the industry in California. The company is also positioned perfectly to have a large amount of exposure to the whole of the marijuana space, which again makes them a more than solid stock to watch throughout the near future.
Jamie Blunder, President and COO of CGOC, a company who just made a sizable investment in NGW, stated that “as we aim to help create a vibrant, global cannabis industry where investors can benefit from its long-term benefit, we’re looking at companies like NGW who are poised to lead in their market.”
Origin House (NASDAQOTH:ORHOF) completed October with a gain of around 5%, which may not sound like much, but considering many of the most popular stocks in the industry lost in the double digits, it shows the promise of the company as a whole. Although the name might sound unfamiliar as well, the company is the new name of the former CannaRoyalty, which made large headlines throughout its time as that branding.
The company did manage to close the acquisition of RVR Distribution with around 70,000 Class A shares, or 7 million common shares. The company has simply been working to up their exposure to the California market as it is the largest cannabis market in the world. Origin House has also been working to continue adding the number of distributors to their platform to ensure they can keep up with the production. The company has also stated that they have around $32 million in sales during the 2017 fiscal year under their belt. For this reason, Origin House remains one of the interesting companies to watch as the market continues to mature.
The marijuana industry overall has been working to gain back its notoriety after suffering from the recent pullback that hit the entirety of the market. The hopes are high that in the near future, the companies will be able to continue to sustain themselves with new innovation and the changing legal landscape of the market.
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