The past week has been extremely exciting for the world of cannabis. With the passing of the Farm Bill into law back toward the end of December, the marijuana industry has received some much-needed notoriety. Although this is not directly involved with the cannabis industry, it is definitely a step in the right direction.
With the passing of the bill, many marijuana stocks have been able to benefit greatly. Some have even stated that they may begin to move into the legal hemp industry in the U.S.
The Green Organic Dutchman (TGODF) (TGOD) is one of the major growers of cannabis in the industry. TGOD has been working to up their production of cannabis and currently has a fully funded capacity of as much as 170,000 kilograms. With over 1.38 million square feet of grow space in the works, TGOD is leading the fight for producing as much cannabis as they possibly can.
The Green Organic Dutchman has also seen an almost 20% gain since the end of December which has attracted quite a large amount of investors. With the passing of the Farm Bill, the hopes are that TGOD may move into the production of some CBD based products but only time will tell.
Aurora Cannabis (ACB) is another one of the primary players in the marijuana industry, and one that could benefit greatly off of the new legislation. Aurora has seen a large amount of volatility which may detract from how some investors feel about the company, but regardless their potential cannot be ignored. The company responded quite positively to the news of the bill’s passing, which could signal a move into more CBD related products and potentially the growth of hemp. Aurora has however been working to move their industry into the international space in places such as Mexico and Colombia. All of this makes Aurora a solid play for the marijuana stock market as a whole.
Cronos Group (NYSE:CRON) is one of the most well-known cannabis companies in the industry. Cronos is also considered to be one of the leaders in the market as they are in the top three in terms of market share. Cronos has been working to recover stock prices after the year-end bearish sentiment that swept the industry. This, however, was not only characteristic of cannabis, and rather filled the whole stock market with a bout of volatility.
After the announcement of the Farm Bill’s passing, Cronos saw their stock shoot up by as much as 5%. This is, of course, a signal that much of the marijuana industry is still responding to speculative trading rather than trading off of intrinsic value. Of course, this should hopefully shift as the market is able to become more mature in the future, but it is still something to consider.
The Farm Bill is only one step in the right direction for the world of marijuana. Although it does not directly involve the growth of cannabis, it does have a similarly associated taboo that is shared with the illicit nature of marijuana. The next year should remain extremely exciting as we move into a future with hopefully more widespread acceptance of marijuana.
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