The past few months in the marijuana stock market have been extremely instrumental to the growth of the space as a whole. For some time now, the cannabis market has been gaining propensity toward the future with a series of new listings and a constant fight for new laws that go in line with what the people want to see. In that time, however, there have been several market corrections and general aspects of the industry that have scared some out of investing. Although the industry is quite volatile, this is extremely characteristic of such a new and speculative space and remains one of the most interesting reasons to invest in the cannabis space.
Scythian Biosciences Corp. (SCCYF/SCYB) has been one of the primary players in the biomedical research side of the cannabis industry for some time now. The company made headlines recently after naming Brady Cobb as CEO. Cobb prior, worked for the massive cannabis business, Liberty Health Sciences through the middle of the year, and has since been working to bring cannabis to the forefront of the country in the U.S. The company has also been working as one of many, to begin a series of acquisitions that have been aimed at boosting the synergy of the industry altogether. The company is based out of Vancouver and has been around for over 10 years, but only in recent times have they begun their venture into the U.S. market with goals set on the international industry in the future as well. Scythian has also been working with various research universities throughout the U.S. to help bring more research and development to the whole of the field. By working in the cutting edge, Scythian remains one of the interesting companies to watch as we move throughout the future.
MedMen Enterprises (NASDAQOTH:MMNFF) has been stated to be one of the larger retailers of cannabis in the U.S., with a very solid amount of exposure to some of the largest domestic markets in the whole of the industry. The company saw gains throughout October of around 30% which made them one of the companies to watch as the market moves on. In recent times, MedMen decided to purchase the company PharmaCann for almost $700 million during the middle of October. This cemented the largest cannabis deal in the U.S. in the history of the industry. MedMen has been working to have their retail locations become the most prolific way to purchase cannabis in the whole of the market. The company has been targeting the higher end of the marijuana space as well, working to gain the most money per square foot of retail space in their locations. This has become overwhelmingly positive as the company took in around $40 million in full-year sales which shows that they are up over 1,400% year over year. MedMen remains one of the most important stocks to keep an eye on throughout the coming years in the marijuana stock space.
Marijuana stocks continue to astound investors with their massive potential for the future. The only issue now that remains is that of legislation, but as more individuals show their support, it looks like this may be on the way out as well.
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