There really is not any other industry that can compare to the fast growing and highly lucrative marijuana industry. The global advancements we have seen over the last few years have been nothing less than impressive, and next month we will witness a historic milestone when Canada becomes the first G7 country to legalize recreational marijuana and launches sales on October 17th.
Over the next decade, global spending on legal marijuana is forecast to hit nearly $60 billion, according to a report from ArcView Market Research. The adult-use recreational market is expected to cover more than 67% of spending, while the medical marijuana market will cover the remaining 33%. The largest group of marijuana buyers is predicted to come from North America, changing from a little over $9 billion in 2017 to more than $47 billion over the next ten years. These numbers continue to appeal to investors as more bets continue being placed in the sector.
The North American Marijuana Index, which tracks the leading marijuana stocks operating in the United States and Canada, is up over 200% in the last trailing year and many marijuana stocks have seen triple digit gains this year as well. With that being said, here are a few marijuana stocks that have seen nice gains so far this month, with current share prices ranging from under a dollar to over $100.
Integrated Cannabis Company (ICNAF)
Integrated Cannabis focuses on the development, manufacturing, marketing, and distribution of botanically-based consumable products in Canada and internationally. It offers a novel line of health care and life-enhancement nutraceutical sprays under the X-SPRAYS brand name and Integrated recently completed acquisition of all the issued and outstanding shares of X-SPRAYS.
Its product line consists of eight market ready orally ingested spray products with four available infused with hemp-based cannabidiol (CBD) and four products are formulated without. Today the company announced via press release the completion of a market ready Tetrahydrocannabinol (THC)-infused spray product and required licensing to manufacture the product in Colorado.
“We are pleased to be adding THC products to our proprietary line of sprays and plan to launch via distribution in Colorado beginning in Q4 and shall pursue other legal markets thereafter,” said John Knapp, CEO.
Cronos Group (CRON)
Cronos Group is a globally diversified and vertically integrated cannabis company with a footprint across four continents. Cronos operates two wholly-owned ACMPR-licensed producers, Ontario-based Peace Naturals Project and Original BC located in British Columbia. Today, Cronos announced via press release the launch of its second cannabis brand for the domestic recreational market, Spinach, following its premium brand COVE.
The company reported signing supply agreements with the OCS and the BC Liquor Distribution Branch and supplier terms with both the Nova Scotia Liquor Corporation and Prince Edward Island Liquor Corporation. Although there has been scrutiny surrounding the company’s supply agreements, since reporting earnings mid-August, Cronos’ share price has gained more than 130%.
Tilray, Inc. (TLRY)
Tilray engages in the research, cultivation, processing, and distribution of medical marijuana. Tilray’s main operations are Canada-based with a footprint in about ten other counties. The company has signed distribution deals with seven provinces throughout Canada: British Columbia, Quebec, Manitoba, the Northwest Territories, Nova Scotia, Ontario and Yukon.
The company today announced via press release that it has received necessary regulatory permits in Canada and Germany to export medical cannabis flower for distribution. Tilray had previously announced the first-ever export of medical cannabis oil to Germany and now provides full-spectrum cannabis extracts in German pharmacies nationwide.
Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Integrated Cannabis Company, Midam is being paid $25,000 per month for a period of 6 months beginning September 4, 2018, and ending March 9, 2019. We own ZERO shares of Integrated Cannabis Company. We may buy or sell additional shares of (ICNAF)/(ICAN) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Integrated Cannabis Company.