The cannabis market as a whole has remained extremely lucrative over the course of the past several years, but new updates to legislation and the chaining public perception of cannabis have all contributed to unparalleled growth in the cannabis space. Much of the growth in the sector has been coming from the introduction of new capital from fundraising to build businesses even greater than before. Companies in the marijuana space have reportedly raised as much as $4.3 billion since the end of last month. The industry as a whole is subject to bring in as much as $8 billion by the end of this year, which is more than double what the market did last year.
One of the popular stocks in the cannabis industry that has continued to represent the massive potential gains in the ancillary cannabis space has been Scotts Miracle-Gro (NYSE:SMG). Scotts may have seen a slight decline at the beginning of the year as many stocks in the space did, but since that time, the numbers have managed to climb back up. One of the many factors that has been affecting the marijuana industry as a whole, and in particular Scotts, has been the advent of legal measures put in place by the U.S. government. California has been slow in particular to roll out new legislation to the cannabis industry, but Scotts has seen some benefit from the recreational laws as a whole. Another reason for the decline has been the slower growing season due to a long winter in the U.S. These are of course, very temporary in the scheme of the cannabis industry as a whole.
Next on the list and one that should come as no surprise is the company Canopy Growth Corp. (NYSE:CGC). Canopy has maintained itself as one of the largest cannabis growing companies in the space as a whole and has been working to up its production to meet the new and growing demands of the recreational industry. The market for adult-use cannabis has been growing incredibly quickly over the course of the past year or so, but with new updates to the legislation going into place in Canada in the near future, it seems as though this space is only poised to continue its massive growth into the future.
Last on the list is the company Marapharm Ventures (OTC:MRPHF). Marapharm is one of the smaller companies in the cannabis industry, but many investors have cited them as a massive growth opportunity for the future. The company recently has been working to acquire new facilities and operational assets to continue their massive growth strategies into the future. Their new licensed cannabis producer in Tonasket, Washington will help them to grow more cannabis than they could have before. According to one report “The 21-acre site is home to 2 Washington State Liquor Control Board (WSLCB) approved commercial cannabis gardens. They operate under independent Tier 2 and Tier 3, I-502 Outdoor Producer Licenses. The Tier 2 garden is approved for 10,000 sq ft of canopy, the Tier 3 garden is approved for 30,000 sq ft of canopy.”
The cannabis industry as a whole has been extremely lucrative for those who have gotten in early and continues to show massive hope for the future as new laws are put in place around the world. The hopes are high that the industry can continue to be fueled by new investments and capital acquisitions throughout the future of the market.
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