The cannabis market has remained one of the industries with the most amount of potential for the coming years. With many stocks entering the market promising new innovations to the industry, it seems as though the next few years will be incremental for growth in the sector. Several stocks in the space have managed to remain extremely lucrative given the amount of compositors entering the industry, and here are just a few.
The company Solis Tek Inc. (OTC:SLTK) recently reported large numbers in terms of stock growth. According to one report “Shares of Solis Tek Inc. rose 6.73% on lower than the average trading volume on the OTC markets, closing the day at $0.555 USD per share. Recently, Solis Tek provided an update for its cannabis cultivation and processing facility in Arizona.” Many stocks in the industry have benefitted from the large and growing demand for cannabis in the space, and as the recreational industry continues to grow, so do stocks that help to meet this demand. Solis Tek remains one of the stocks to watch over the course of the next few years and beyond.
The next company on the list is the company Auxly Cannabis Group (OTC:CBWFF). Auxly has been working to become one of the primary Dealer’s of cannabis in the market, and recently obtained a Dealer’s License through their wholly-owned subsidiary known as Dosecann Inc. Because of this, “Shares of Auxly Cannabis Group Inc. rose 8.81% on lower than average trading volume on the OTC markets, closing the day at $0.642 USD per share.” Although much of the growth in the industry seems to come from speculation, this is very much due to the infancy of the market as a whole. As cannabis continues to mature in its entirety, investors will begin to start investing on intrinsic value rather than simply news that comes out pertaining to a stock.
The company Leafbuyer Technologies Inc. (OTC:( LBUY ) been at the forefront of the industry for some time now as one of the go-to spots to find everything from news about cannabis, to where to find the actual plant near the consumer. Because of this, Leafbuyer has become one of the primary sources for news in the space overall. The company has reported massive amounts of growth in terms of web traffic over the past year or so, with only more good news to come. As one of the bigger players in the web market of cannabis, Leafbuyer remains an interesting stock to watch over the course of the near future.
Many of the companies in the cannabis space have been benefitting off of being in the ancillary market of cannabis rather than in the pure-play cannabis space. Because of this, investors have been turning to other options in the industry to have a diverse portfolio with varying degrees of involvement in the actual cannabis market. Cannabis as a whole however is still very much in its infant stages which means that there is a large amount of room to grow as we move toward the near future. Only time will tell how the combination of positive legislation in the space and the changing public sentiment will combine to help the market reach its full potential.
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