The marijuana market has been booming for some time now, but given the changing legislation and public perception as cannabis becomes more accepted as a medicine and for recreational use. Cannabis legalization is still very much in its early stages which means that there is a long way to go before the market is able to reach its full potential, but new companies have been moving to the forefront of the market.
The market being so new, is still very volatile which means that there is a lot left up to chance and to speculation, but all of this is changing very quickly. One of the main stocks that investors have been watching and one that seems to have climbed to the top of the market quite quickly is Aurora Cannabis Inc. (OTC:ACBFF). The company recently stated that they would be developing a new facility in Malta which will help to expand their growing capacity in the European market and beyond. According to one report “Malta is a small island nation in the Mediterranean Sea that played a strategic role throughout history due to its particular location. And no doubt, building their new facility here gives Aurora prime real estate when it comes to distributing cannabis across the EU. To meet the growing demands of a market that size, the new seed-to-pharma facility will be a “hybrid.”” Malta does seem to be the perfect location to open up a new facility, and the company continues to look toward future growth in the area.
Next on the list is a smaller company known as Friday Night Inc. (OTC:TGIFF). The company recently announced a new expansion project that will be undertaken in Las Vegas, Nevada. The company was also just approved for the licenses to open this facility and has continued to move forward quite rapidly with expansion in the area. According to one report “Friday Night’s expansion plan is focused on hemp, and this new facility will be home to a unique CBD Isolate Lab that will ultimately produce oils, distillates, and other infused products. The facility is a joint effort between Friday Night and their subsidiary, Infused MFG.” The CBD industry has also been growing quite rapidly as new medicines are being made and more and more individuals are seeing how many uses the component of the plant has.
Last on the list should come as no surprise as Aphria Inc. (TSX: APH) has been at the top of the market for some time now. The company recently invested as much as $55 million into a new extraction center which will lead the industry is extractions from the cannabis plant. The deadline for completing this new facility is approaching very soon but Aphria seems to be very much on top of it. Another facility owned by the company known as the Diamond Facility was also recently approved for a $20 million budget increase which will help to boost their production by almost ten times to as much as 140,000 kg of cannabis. All of these factors combine to show the large amount of promise that Aphria holds for the future.
The cannabis market as stated earlier, it still very much in its infant stages which means that there is a long way to come before it can reach its full potential. With new developments happening every day in the industry, it is only a matter of time before these companies are able to continue fueling their growth with new and larger amounts of capital for the coming years.
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