The cannabis market has seen a large amount of gains in the past few months to years, but in recent times the addition of high level partners has helped to grow the space even further. Many companies have begun to reach new heights as alcohol distributors and producers begin to get involved in the cannabis space.
Much of the recent rallying in cannabis stock prices has been through the Canadian market and its affiliates. One of the leading stocks to see massive gains in recent times has been the popular company, the Cronos Group (NASDAQ:CRON). The company managed to put its one month gain at around 120% which is incredibly substantial for a stock listed on such a prestigious exchange as the NASDAQ. The company saw this massive climb for two reasons. The first reason comes from the aforementioned addition of alcohol distributors and producers working in the cannabis space and giving new investments to a wide variety of companies therein. This has made many of the stocks at the higher level of the cannabis market see a good amount of rallying over the course of the past month or so. Specific to the Cronos Group, the company recently announced a landmark partnership with the biotech company Ginkgo Bioworks Inc., which will help the two to begin producing large scale cannabinoids for research and sale on the market.
According to one report “Cannabinoids are specific molecules in marijuana that can produce effects in the human body, with the most commonly known subclasses being Tetrahydrocannabinol, or THC, and cannabidiol, or CBD. Cronos has pledged to fund about $22 million in research and development and issue up to 14.7 million shares to Ginkgo if the partnership meets certain milestones.” This is a major milestone for the market as these partnerships continue to be one of the main reasons for growth in the space overall.
The company Leafbuyer Technologies Inc. (LBUY) has been another one of the big players in the cannabis space for some time now as new deals are abound. The company operates as an online resource and database for the cannabis market and has become one of the key players in disseminating information about cannabis and its specifics. The site is also a massively valuable resource for individuals looking for where to purchase certain cannabis products as well as how to use them and so on. Leafbuyer has also recently reported a massive amount of growth in the hundreds of percents in their online traffic. Online resources like these are in no way plenty, and Leafbuyer has managed to find the perfect target market especially as more legislation goes into effect to allow the use of legal cannabis.
The cannabis market continues to be one of the most important booming spaces during our time. The past year or so has been extremely instrumental in the growth of the industry, but it seems as though the best times are still ahead.
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