The increase in marijuana attention is causing stock markets to stir
Only over the course of the past year or so has there been a solid push of U.S. stock exchanges entering the marijuana industry. This represents one of the largest updates seen in the markets recently, as it has led to a significant amount of capital being added to the market. It has also helped to drive a substantial amount of attention to an industry that is, by most estimations, still in its infancy. As the push continues, cannabis companies and stock markets will continue to vie for position, trying to become the center of attention in the marijuana ecosystem.
The cannabis industry is expected to grow to $31 billion within the next three years – that’s a short amount of time for a significant amount of growth. There is going to be a lot of movement and the companies that can maintain their positions from an early stage will be the ones that grow the fastest. As the market continues to cross into new territory, it’s easy to see how the future of cannabis will be even more exciting than what is currently being witnessed.
Companies such as Canopy Growth, which is traded on the NYSE under the ticker symbol CGC, is currently one of the leaders in the industry. The company is the largest in the space and has a large amount of cash with which it can work. The fact that it was given an investment of $4 billion from Constellation Brands, the alcoholic beverage producer and distributor, gives it a serious amount of funds for its growth, as well as more credence in the markets.
Others, such as the OTCMKTS-traded Green Organic Dutchman (ticker TGOD), is also helping support the markets. It has several new agreements in place and its stock has seen a steady increase throughout the week.
This is just the beginning. There is a very bright future for the cannabis industry, as well as the stock markets and the rest of 2019 is going to set the bar for what should be strong activity for many years to come.