The cannabis industry has been notoriously successful for some time now amidst stringent regulation and the changing public image of the substance. Several stocks have come to the forefront of the market due to the increasing competition and innovation in the space, and as the market is able to mature even more, it seems as though the top of the industry is continuing to take over.
One of the companies that many investors have been watching has been the company CannTrust Holdings Inc. (NASDAQOTH:CNTFF). The company has shown a lot of positive performance in terms of their stock price. The company has been working as a purely cannabis company, growing out of two production facilities in Canada. The company has also stated that they are a licensed producer and distributor of medicinal cannabis throughout Canada which has also continued to help their growth in the market.
According to one report “CannTrust is ramping up its capacity in anticipation of high demand. A 600,000-square-foot expansion is currently under way. When completed, CannTrust’s annual production capacity should top 100,000 kilograms.” This type of growing capacity is something that many investors have been watching due to the impending sales of recreational cannabis domestically. Canada has plans to begin allowing the sales of recreational cannabis as soon as October 17th, which means that the new and higher demand should help companies that grow cannabis, to see more positive numbers in the future. The company has also stated that they could potentially have an interest in selling cannabis-infused beverages, but only time will tell.
The next company on the list is similar in terms of selling cannabis, but the company MedMen (NASDAQOTH:MMNFF), is in the retail market for the substance rather than wholesale. MedMen also differs from CannTrust due to the fact that they operate out of the U.S. and not Canada. The company has stores throughout the U.S. in states such as California Nevada and New York, and has stated that they would like to become the standard for high end retail cannabis in the U.S. The company has also reputed per square foot revenue higher than some of the largest companies in the world such as Apple and Tiffanies.
All of this has made MedMen one of the companies to watch as cannabis continues to head toward the future. The exposure of MedMen to the Californian market has helped to put them at the forefront of the industry as California is subject to have a larger cannabis market than any other place in the world. MedMen has also stated that they have new plans in the works to build out retail stores throughout Florida and Massachusetts which means that there exposure could get even larger in the near future.
The cannabis market as a whole has continued to entice new investors to continue putting money in as growth has been unprecedented. The hopes are high that over the course of the next few years, companies in the space can have an easier time dealing with legislative issues throughout the U.S. and abroad.
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