Perhaps one of the biggest and fastest growing trends emerging during the last several years goes to the prominent and up until recently illegal, cannabis industry.
While the industry of growing cannabis and manufacturing cannabis bi-products and edibles is still illegal in greater part of the world, many countries in the US, as well as Canada, decided to make medicinal marijuana legal, while in Canada, cannabis is legal for recreational use as well.
Changes in regulations have brought profits into the main focus, which is why the industry of cannabis appears to be one of the most profitable in the present state in the market.
At the same time, companies that are working with cannabis and are publicly traded have shown immense progress in the market, while individual investors as well as companies, have shown interest in investing in cannabis giants.
Top Prominent Companies in the Cannabis Industry
The fact that cannabis-related companies are already issuing Initial Public Offerings says a lot about the way the industry of cannabis and cannabis-related products in developing in the last several years.
Some of the most successful companies in the sector with publicly traded stocks are Canopy Growth Inc (NYSE: CGC) and Aurora Cannabis (NYSE: ABC). Investors are rather optimistic regarding the growth rate of Canopy Growth Inc, as the company managed to achieve a growth rate of 60% during the course of only 6 months, which means that this cannabis grower has been collecting 10% of rises from month to month over the course of the last two quarters.
One of the largest alcohol production companies, Constellation Brands have even invested 4 billion dollars in Canopy Growth Inc, back at the beginning of Q3 in 2018, while Canopy decided to expand their services and start selling different goods made from cannabis.
Another company in the industry that is attracting investors’ attention for all the right reasons is Aurora Cannabis, another cannabis giant, involved in selling medicinal marijuana.
With companies as Aurora Cannabis and Canopy Growth Inc, the industry of cannabis is expected to reach a total market cap of 23.4 billion dollars in the US alone by 2022.