There is no doubt that the cannabis market has been extremely lucrative over the course of the past several years, but with new developments in terms of legality and the changing public sentiment, it seems as though the future of the cannabis market is even brighter than anyone could have predicted. Several companies have come to the forefront of the new market given the new legal standing in many countries around the world, but only a few companies have managed to make it to the top of the industry.
The beginning of the year thus far has been quite up and down for the whole of the cannabis industry given a large amount of confusion as to where the market could potentially go, but as we move further toward the end of this year, things in the industry look as though they are smoothing out for the future.
One of the most promising companies in the industry and one that is still relatively unknown is MariMed (NASDAQOTH:MRMD). MariMed currently works as a management company, helping to provide various services to companies in and around the cannabis industry. The company is also a manufacturer and producer of several cannabis infused products such as Nature’s Heritage cannabis as well as other types of edible marijuana products. The company has managed to shoot up in stock value by over 240% over the past several months, but in the short period of their first quarter, they have already managed to go up in value by as much as 60%. After the company reported their first quarter earnings, they announced revenue of around $2 million, which is a year-over-year increase of around 81%. The company has also benefited greatly from the growing medical cannabis markets throughout the East Coast in places like Massachusetts and Maryland. Based out of the latter, MariMed has been working to begin their operations in a cultivation facility that will be 68,000 square feet and based out of New Bedford, Massachusetts.
Next on the list is the company iAnthus Capital Holdings (NASDAQOTH:ITHUF). The company has been working to build and operate various cannabis cultivation facilities around the U.S. as well as various dispensaries dispersed throughout the country as well. The company currently has as many as 46 dispensaries across four states in the U.S., as well as eight cannabis growth facilities. iAnthus has also been working to create new partnerships within the industry that will help them continue their massive growth trends in the near future. The company has seen their share prices jump by as much as 150% over the course of the past year or so, but with prices moving up during the beginning of the year after the acquisition of GrowHealthy Holdings, it seems as though this company is continuing to make sure they are a part of the future of the cannabis industry.
The cannabis market is still very much in its infant stages which means that there is not only a large amount of potential to grow, but there is also a large amount of room to facilitate this growth. With many companies working to form new partnerships and acquisitions in the industry, it looks as though the cannabis industry is here to stay. The hopes are high that over the course of the next several years, more legislation will be put in place in favor of the growth of the cannabis industry so that companies can begin to move toward reaching their full potential. Only time will tell how well these efforts continue to work.