There is no doubt that the world of cannabis has been extremely lucrative over the course of the past several years, but the beginning of this year presented a very different look at the world of cannabis than ever before. The market is projected to reach as much as $12 billion in North America which means that there is a large amount of room to grow in the near future in terms of investments and new companies coming to fruition. Many states in the U.S. have also legalized the use of cannabis for recreational purposes which means that those individual markets are all able to grow on their own levels, but also in the broader and larger market.
The cannabis market is no longer just consisted of the raw cannabis plant, as many new companies have been working to produce everything from oils to edibles and more. This market has also become quite large in the past several years, which has led more and more investors to come in to the ancillary space on cannabis. For a variety of reasons, often people don’t want to inhale cannabis smoke, thus the need for vaping as well as the products mentioned above. This market has been steadily increasing, but companies in Canada and abroad are working to make new and better products for all.
One stock that has caught investors attention is Nightfood Holdings Inc. (OTC:NGTF). With a smaller market cap of around $16 million, the company is very much still in its early stages of growth, but they have provided a promising way to invest in the edible side of the cannabis industry. According to one report “NightFood manufactures and distributes better-for-you snacks specifically formulated to satisfy unhealthy nighttime cravings in a better, healthier, more sleep-friendly way. Future product line extensions may include formats such as NightFood cookies, NightFood ice cream, NightFood bites, and more. In addition, MJ Munchies, Inc. was recently formed as a new, wholly owned subsidiary, to exploit legally compliant opportunities in the CBD and marijuana edibles and related spaces.” This market has as mentioned prior, become extremely large and Nightfood is one of only a few companies that are working to capitalize on it.
Next on the list and one that should come as no surprise is GW Pharmaceuticals (NASDAQ:GWPH). The company labels itself as a “biopharmaceutical company, engages in discovering, developing, and commercializing cannabinoid prescription medicines using botanical extracts derived from the Cannabis plant. The company operates through three segments: Commercial, Sativex Research and Development, and Pipeline Research and Development. Its lead product is Epidiolex, an oral medicine which is in Phase III clinical development for the treatment of refractory childhood epilepsies, as well as for the treatment of Dravet syndrome, Lennox-Gastaut syndrome, tuberous sclerosis complex, and infantile spasms.” GW also recently was the first company to have a pharmaceutical product accepted by the FDA to use marijuana as a component in the medicine. This was a huge step in the right direction for the whole of the cannabis industry, and has helped to make the marijuana industry more inclusive for other companies to get involved.
The industry on cannabis is still very much in its infant stages which means that there is a long way to go before the market can reach its full potential. The hopes are high that in the near future, a combination of fair legislation and the changing public sentiment, will both combine to help bring the marijuana industry to where it can potentially go in the coming years.
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