With more states approving legal cannabis, stocks are set to add new strength
The midterm elections have come to an end, and any good news related to the marijuana industry that has come out of the results may be beneficial to the stocks of the companies involved. For several weeks now, a lot of good news has boosted cannabis stocks positively. Voters in Maryland and Missouri said yes to recreational cannabis and that has undoubtedly come to re-enforce how much support legalization is getting in different parts of the country, no matter how conservative they used to be.
With announcements like these, Tilray Brands is positioning itself as one of the actions aimed at increasing its value in the industry. The company has been on a roller coaster ride for the past few months, but the important thing is that the company is gaining ground again lately.
Over the past month alone, Tilray’s share price has seen an increase of more than 33%, making it one of the top-performing stocks in the market today. In addition, it is important to remember that in early 2022, Tilray completed its merger with Aphria to create a global powerhouse that dominates the market in terms of revenue and size. That will result in the combined company registering direct cost savings of around $78 million per year 24 months down the road.
On the other side is Curaleaf Holdings, a company that, with its extensive network across the country, has positioned itself as one of the leading cannabis companies in this fast-growing industry. This firm has operations in more than 20 states across 144 different locations. Recently, the company has begun to have much more notable success.
Unlike its competition, Curaleaf stands out as having a much stronger focus on US assets. As a result of that strategy, the company has gained access to a more lucrative and larger market than most companies in the sector. With that on its side, Curaleaf appears poised to continue to thrive in the burgeoning cannabis industry.