A decade from now, investors may very well look back and proclaim the cannabis industry to be the greatest growth opportunity of our generation. We know the demand is there given the tens of billions of dollars that exchanges hands in illicit channels each year. It’s simply a matter of ongoing legalizations and ramp-up efforts to move those black-market pot sales into legal channels. If this happens, $75 billion in annual sales by 2030 is easily achievable, according to one Wall Street firm.
But what you may not realize is that while many of the major legal players have billion-dollar market caps, not all of them fit the mold of what you’d think a major cannabis company would look like. Right now, there are three marijuana penny stocks that are expected to be very important players in the Canadian pot industry.
Auxly Cannabis Group’s (NASDAQOTH:CBWTF) market cap of $355 million, as of closing on Wednesday, July 3, is hardly pedestrian. However, its $0.60 share price (that’s 60 cents), doesn’t exactly fit the definition of a company you’d expect to be a leader in the cannabis space. But rest assured, Auxly may very well be the real deal.
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers