The marijuana stock market of recent has been subject to a lot of the issues regarding the fluctuation of the entirety of the market. These issues have been due to a large amount of speculative trading due to everything from Saudi Arabian uncertainty to trade tariffs being imposed on various countries around the world. Because of this, the marijuana stock space has been adversely affected, but it appears as though it is less so than some of the stronghold companies in the general stock market. Despite this, it is still one of the most exciting times to invest in the marijuana stock space which means that now may be a better time than most to buy given the lower prices of some of the most popular tickers in the industry.
Next Green Wave (NGW) according to their site is a “vertically integrated seed to consumer-producer and reseller of cannabis products and is building a world-class business and innovating a premium portfolio of brands in California.” The company has worked to build its reputation by way of having a team full of cannabis cup winners and seasoned executives in the cannabis space. By being completely vertical, Next Green Wave has little in the way of doing what they choose to, and for this reason, can take full advantage of the largest market for cannabis in the world; California. NGW has been able to raise as much as $21 million through investments from around the world to help fund further development down the line. With eyes on growth, NGW looks to be one of the companies to watch in the future of the industry.
HEXO Corp. (NASDAQOTH:HYYDF) has been of interest recently due to the potential of them listing on either the NYSE or the NASDAQ in the coming months. The company has stated that given their massive production ability currently around 110,000 kilograms, it would be beneficial to receive the influx of capital that comes with going public on one of these prestigious exchanges. The company has also stated that they have a long-term supply deal with Quebec to begin providing as much as 200,000 kilograms of cannabis over the course of the next five years. If all this wasn’t enough, HEXO was one of the companies to benefit from the recent introduction of large alcohol producers and retailers into the cannabis space. The company has entered into a joint venture with Molson Coors Brewing Co., which occurred back at the beginning of August, but investors are still waiting for products to be released or shown to the public.
Both of these companies have been affected by the recent issues throughout the stock market, but marijuana stocks seem to have a bit more resiliency than most other traditional businesses. This could be due to how new the market is or how much promise investors have in the future of the industry. The hopes are high that the market can begin to settle down in the coming months to a year or so, and institutional investors can continue to come into space as it continues to shift.
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