Marijuana stocks with the largest production capabilities have been leading the market over the course of the past few months as more and more countries continue to legalize the use of medicinal and recreational cannabis. Although many of the companies that distinctly grow cannabis have been at the top of the space, other businesses such as the ancillary companies that support growers have also seen a large amount of growth due to the correlation they have with the whole of the market.
Tidal Royalty Corp. (OTC:RLTY) has been working to reinvest their money into a more long term strategy that deals with the marijuana stock space. In addition to working to build their team out, the business has also been working to build out their distribution and production facilities so that they can begin to meet the high and growing needs of the cannabis space. One of the main assets of the company Tidal Royalty has been their positioning in the Californian market. The Californian cannabis market is widely regarded as the largest and most influential industry in the whole of the weed space, and for this reason, any company positioned well within this space has a solid future to look forward to. Tidal Royalty has seen a large amount of renewed investor interest in the stock which has helped to point out that there could potentially be some renewed growth in the near future. After a rough few months tumbling with the rest of the market, Tidal has managed to completely redesign their method of doing business so that they can prepare themselves for the next five or so years in the industry. All in all, Tidal remains one of the important companies to take note of in the coming future.
Innovative Industrial Properties (NYSE:IIPR) has been noted as one of the most interesting ways to invest in the cannabis space for several years now. As another part of the ancillary business on cannabis, IIPR has been working to focus on the medical marijuana space by dealing with all of the issues that come with real estate and finding a location to physically grow cannabis. The company has been working to target the U.S. market which has been relatively untapped by companies traditionally in the Canadian space. The U.S. industry on cannabis is set to be worth as much as $22 billion by the end of 2022 which means that there is a large amount of room to grow as we move throughout the coming years. With thirty states in the U.S. currently legalizing some form of cannabis and its use, more could be on the way with the upcoming midterm elections. For this reason, IIPR continues to be one of the interesting businesses to watch develop as the market continues to change and reshape.
Ancillary cannabis businesses represent some of the most potential in the stock market due to the fact that they have a high correlation to cannabis without having the same exposure as pure-play marijuana stocks. The hopes are high that in the coming years, the marijuana stock space can continue to strengthen as the market settles down with time.
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