The Biggest Cannabis Stocks to Benefit From Recreational Legalization

The cannabis industry has been one of the most exciting markets to watch and take part in over the course of the past few years, but new updates to legislation and the changing public paradigm of the industry have all contributed to an even more exciting market of the future. Many companies have been able to move the forefront of the industry ahead of recreational legalization in Canada which is scheduled to go into effect on October 17th.

The company Canopy Growth Corp. (NYSE:CGC) has completely changed the whole of the cannabis market. The company made headlines back in May after they became the first pure-play cannabis stock to be listed on the NYSE, let alone any major exchange. This massively helped to not only increase the credibility of the company but the industry on cannabis as well. After that, the company saw a series of investments from the owner of Corona and Modelo, Constellation Brands (NYSE:STZ). The third investment into Canopy from the latter came in at around $4 billion, again increasing the amount of trust from investors in the company. The company has seen its shares soar in recent times and things don’t appear to be looking bad any time soon. With operations based in Canada, the company has a massive amount of exposure to one of the largest cannabis industries in the world. In addition, the aforementioned landing of recreational cannabis domestically will hopefully mean even more potential in the near future.

The company Tilray (NASDAQ:TLRY) is another household name in the cannabis space and should be quite well known by this point. After going public a few months ago, the company saw a large increase in the amount of investor attention paid to them. With a $45 price target back in August, the company has since seen their stock shoot up to as much as the upper $100 range and currently trades at around $163. The company has quite a different business model than most businesses in the cannabis space. Rather than producing simply selling cannabis domestically in Canada, they have already been working to move their business into the abroad space as more countries around the world look as though they will begin legalizing cannabis in the near future. The company also formed a pharmaceutical partnership with Novartis (NYSE:NVS) and has been working to move quickly into the recreational market as well. Tilray remains one of the interesting stocks to watch as move throughout the coming months in the industry.

The last stock on the list is the company Integrated Cannabis Company ICNAF/(CSE:ICAN). Integrated Cannabis has been working to produce new lines of CBD based products which have seen a massive amount of popularity in recent times. The company recently stated that they are releasing an entirely new line of dedicated CBD products with varying uses. The CEO of Integrated Cannabis stated recently that “Between our Sprays, vapes, and beverages, all infused with CBD, we will be able to offer a well-rounded variety of products that complement each other and provide health benefits for consumers. This is an excellent opportunity to combine marketing efforts and get out into the public to bring awareness and education on the benefits of CBD and the many innovative ways to deliver it.” With partnerships on the way, Integrated Cannabis looks as though it has a large amount of potential in the next few months to years.

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