The cannabis industry of recent has been shown to have a large amount of ups and downs as investors become comfortable with space and the public continues to back approval of the marijuana-based legislation. For this reason, many cannabis companies have seen their prices fluctuate, also due to the infancy of the industry as a whole. Cannabis is still a relatively new market in terms of other industries, but as time continues to go on, it seems as though this issue is quickly changing for the better.
One of the companies that has managed to remain at the height of the space has been the Cronos Group (NASDAQ:CRON). The company currently only has an ability to produce around 6,650 kilograms of cannabis per year, but this is slated to change as they have a major expansion project underway that should help to make their annual production as much as 40,000 kilograms per year. Cronos Group has also secured a large amount of supply agreements with various provinces in and around Canada that should help them t meet the increasing demand of the industry as Canada puts forth sales of recreational cannabis as soon as October 17th. After regulations are set in place,
Cronos has also stated that they will be forming a joint venture with MedMen (OTC:MMNFF), one of the largest retailers of cannabis in the U.S. This should help them to continue on their fight to have a large amount of market share as the industry continues to build. In addition to all of this, the Cronos Group has been working to secure a large amount of ties in the international industry on the substance, which in several years, could become one the largest key components of the world market on cannabis. Germany has been stated to have one of the fastest growing cannabis markets outside of North America, and for this reason, The Cronos Group remains one of the important companies to watch in the market.
The next company on the list is slightly less well known than the former but that should not dissuade investors from taking a look. Village Farms (NASDAQOTH:VFFIF) recently agreed into a joint venture with Emerald Health Therapeutics (NASDAQOTH:EMHTF), another large producer of cannabis. The joint venture known as Pure Sunfarms, should help the two to begin growing cannabis at a larger rate. The companies could by next year, be able to grow as much as 52,000 kilograms of cannabis per year which is a large amount considering the size of the industry as a whole. In terms of an international presence, the company has been working to build its industry in Canada and Mexico, but it has been difficult to move to further areas around the world at this time. This does not mean that the fur does not hold more international possibilities, but currently, many companies have focused more on their domestic operations first.
All in all, cannabis remains one of the most interesting markets to watch and take part in as we move toward the future. The hopes are high that the cannabis industry can continue its reign as one of the most important markets of our time as we move throughout the coming months and years.
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