The cannabis market has remained extremely high in terms of potential for growth over the course of the past several years. With new updates in legislation and the changing public sentiment, it seems as though there is only more potential to look forward to. This year thus far has seen a large amount of companies going public, which has led to an increased amount of capital flooding into the market.
One of the stocks that has seen a large amount of promise over the course of the past few years has been Leafbuyer Technologies (OTC: LBUY). The stock was able to hit a high early in the morning on Friday, July 27th. The last few months of watching this company has seen the stock rise by a great deal, but it seems as though most of the potential is in the future.
The company also recently announced that they had increased their sales growth by as much as 50%, which is partly in due to a large amount of boost in website traffic. The company saw its web traffic increase by as much as 800% in the past few months. This could be a sign of future growth as investor interest seems to be reaching new highs. Leafbuyer states that they are currently servicing as much as 41% of all dispensaries in the Colorado area, with a growing amount of dispensaries being added all of the time.
Next on the list is the company Aurora Cannabis (OTC:ACBDFF) which should come as no surprise. The company has recently announced that they will be partnering with the company MedReleaf with buyers receiving almost 4 shares Aurora for each MedReleaf stock held. According to one report “Upon closing of the transaction, Aurora will submit applications with the Toronto Stock Exchange and the Ontario Securities Commission (the “OSC”) to delist MedReleaf’s existing common shares and for MedReleaf to cease to be a reporting issuer, respectively.” Shares of the company are up greatly from the lows it saw on Thursday only a day prior.
Much of the cannabis industry is still responding to speculative increases from a large amount of news that enters the market. This has meant that many stocks have not seen their true value realized, but all of this should change as the market continues to grow into the near future.
The company Canopy Growth (NYSE: CGC) is another stock that should come as no surprise on this list as they have remained one of the larger companies in the industry for some time now. The company has seen its shares grow early in the morning with Friday numbers hitting a high of around $26.40 during market open. According to one report “Canopy Growth entered into a definitive agreement to acquire Hiku Brands Company Ltd. for more than $300 million. Hiku is known for its Tokyo Smoke retail shops across Canada, as well as its Van der Pop female-focused educational platforms and Maitri Quebec-based brand. The deal is designed to expand Canopy Growth’s brand portfolio as it working to maintain its position in the industry as a leading, licensed producer.”
Partnerships like the one mentioned above in the cannabis market have continued to be one of the primary reasons for growth in the industry. If these partnerships continue to go as smoothly as they currently are, it seems as though there’s no telling where the industry could go in future days. The hopes are high that the rate of success for the cannabis market continues to be high in the coming years.
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