Strong stocks in the cannabis space investors should consider

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There are a few names operating close to the cannabis industry that deserve attention

The production, consumption, or possession of cannabis are activities that are still prohibited in much of the world. However, more and more countries have changed their laws and have accepted a more positive approach, recognizing the medicinal benefits of cannabis. The legalization of marijuana consumption is an open debate in a large number of countries, not only in the US, but this debate opens the door to investing in a sector that could grow significantly in the coming years, as shown by some of the forecasts of expert sources in the field.

One of the companies that may not be highly recognized but has high potential is Associated British Foods. Although its name is associated with being the owner of Primark, its foray into the world of cannabis began in 2017 when it signed an agreement with GW Pharmaceuticals to supply M250 marijuana (non-psychoactive cannabis) for drug development purposes.

It has now grown to such an extent that it is considered one of the largest marijuana growers in the UK. Its approximately 45-acre tomato greenhouse is now used to focus on hemp cultivation. While Associated British Foods will not give you high exposure to the sector, its shares could grow as Europe opens the way further towards legalization.

On the other hand, Futura Medical is an option that offers broader options in the market. This pharmaceutical firm focuses on the development of medical marijuana cosmetic and analgesic products. With its patented DermaSy technology, experts are able to generate highly absorbent gel for the skin by means of cannabis-derived ingredients, including cannabidiol (CBD).

It is important to note that Futura Medical can count on several risks as an early-stage R&D company. Firms that have not yet launched a product to the market run a higher risk than those that have already achieved that goal. Even so, analysts recommend that investors keep a close eye on this stock.

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