The Big Guys in the Cannabis Space Continue to Innovate

The cannabis space as a whole has been one of the most innovative spaces over the course of the past several years, but new updates to legislation and the changing public perception of cannabis have all contributed to the market drastically changing in the short term. Many of the companies at the top of the list have been moving up given new investments and new investors coming into the space.

One of the primary companies in the cannabis industry has been the Cronos Group (NASDAQ:CRON). The Cronos Group has been at the top of the cannabis market for some time now and has been stated to be one of the largest producers of cannabis in the whole of Canada. The company has a market cap well over $1 billion and has generated around $3 million in revenue during their second quarter of this year. According to one report “that figure rose 430% year-over-year, so there is some reason for optimism here. Cronos’ smaller size could make it a takeover target down the line.” Several of the larger companies in the industry have been working with some of the biggest alcohol distributors and producers in the world to make partnerships that will eventually continue to grow the cannabis space. The Cronos Group remains one of the important stocks to watch as the cannabis market continues to grow.

The next stock on the list is the company Scotts Miracle-Gro (NYSE:SMG). The company has been at the forefront of the ancillary industry on cannabis for several years, and has been working alongside their subsidiary to produce new products for specific use in cannabis plants. Traditionally, Scotts has been a resource for those with a green thumb to have access to products that can help them grow anything from herbs to flowers, but given the advent of the cannabis market, Scotts has begun to participate greatly in the growing weed industry. With not a lot of individual exposure to the cannabis space in terms of growing the plant, Scotts has a great amount of exposure for someone who wants to make a safer bet for the cannabis space that isn’t directly in it.

The last stock on the list is the company Leafbuyer Technologies Inc. ( LBUY ). Leafbuyer also represents one of the companies in the ancillary industry surrounding cannabis, but very differently from most. Leafbuyer provides a very valuable online resource for investors and consumers looking to learn everything from what cannabis to buy all the way to general information about the plant. As one of only a few of these resources, Leafbuyer has managed to see their website traffic rise in the hundreds of percents over the course of the past year or so. As more and more people continue to join the cannabis space, it seems as though resources like these will continue to reign supreme over the market as a whole.

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