Controversial or not, the marijuana boom is tough to ignore.
For most of 2018, pot stocks exploded on news of Canadian legalization, U.S. states approving its medicinal or recreational use, and corporate America interest. We even saw the U.S. FDA approved the very first cannabis-derived drug, as well as the 2018 Farm Bill, which legalized hemp and hemp-based CBD.
Lawmakers in Kentucky and West Virginia are now considering full marijuana legalization. Indiana, Missouri, Texas and Virginia could also soon vote on legalization bills that were recently introduced. All as legalization just begins to spread across the U.S.
According to analysts at Cowen, U.S. marijuana sales alone could reach $80 billion by 2030 – an increase of $5 billion from earlier estimates, and a 4% compound annual growth rate.
Globally, Piper Jaffray believes the market for legal marijuana could be worth $15 billion to $50 billion a year, with global sales growing to $250 billion to $500 billion. All thanks to growing acceptance and legalization in countries around the world.
The best part – marijuana’s cultural renaissance has only just begun.
Some of the top trailblazers that will benefit immensely include MedMen Enterprises Inc. (CSE:MMEN)(OTC:MMNFF), Canopy Growth Corporation (NYSE:CGC)(TO:WEED), and Curaleaf Holdings Inc. (CN:CURA)(OTC:CURLF).
Leading cannabis retailer and trailblazer, MedMen Enterprises Inc. (MMEN)(MMNFF) for example just debuted a new commercial, The New Normal, that chronicles the U.S. history of cannabis. Directed by Academy Award-winning storyteller Spike Jonze, and featured actor Jesse Williams, the ad furthers the company’s vision where legalized and regulated cannabis create a safer, healthier and happier world.
The commercial chronicles society’s evolving perceptions of the plant, from pre-prohibition to the modern industry of today. While looking back through America’s history, from George Washington’s hemp farm, to Reefer Madness propaganda, The New Normal takes the audience on a journey through the injustices of the past and a hopeful view for the future. Jonze and Williams collaborated to ensure that much of the commercial’s cast and crew had a personal real-life connection to the plant. Those individuals included military veterans who use cannabis to treat their PTSD, a former NFL football player who uses it as a substitute for opioids, victims of racial profiling and those who work in the emerging industry.
“Cannabis is part of our country’s history. We’ve moved away from the propaganda of the past and into a world where cannabis is the new normal. We want this commercial to educate and embolden in equal measures. This is our opportunity to make a statement on a national stage,” said Adam Bierman, MedMen’s CEO & Co-Founder.
For More Information on MedMen Enterprises Inc., Click Here.
Canopy Growth (CGC)(WEED) is making major headlines, as well.
In recent months, Constellation increased its stake in Canopy Growth by $4 billion. Constellation’s investment in Canopy Growth, the biggest known deal in the marijuana industry, shows just how far traditional alcoholic beverage companies are willing to go to find growth.
“We believe the emerging cannabis space represents one of the most significant global growth opportunities of the next decade, and frankly, our life time," said CEO Bill Newlands. "An opportunity that is opening up much more rapidly than originally anticipated."
In addition, the company announced it would make a significant investment of $100 million and $150 million to create a large-scale hemp production facility in New York over the next 100 days. It’s currently looking at sites in the Southern Tier of the state, notes Bloomberg.
Going forward, the company also expects to sign new supply agreements with multiple companies to extract greater quantities of cannabis oil; complete key growing facilities that have been under construction; and explore new opportunities related to cannabis growth techniques.
For More Information on Canopy Growth Corporation, Click Here.
Vertically integrated cannabis company, Curaleaf Holdings Inc. (CURA)(CURLF) seems to have high expectations moving forward, too. The company opened 42 retail stores with hopes of having 67 stores up and running by the end of the year.
In addition, the company just announced the appointed two new executives. Neil Davidson is the new Chief Financial Officer and Todd Goffman is now General Counsel and Secretary.
According to CEO, Joseph Lusardi, "Our executive team has a wealth of expertise from relevant industries including consumer packaged goods and retail. The public company experience that Neil and Todd bring to Curaleaf will make our team even more prepared to capitalize on the significant opportunities across our industry. With these new appointments, Peter and Jonathan will be able to dedicate more time to focus on Curaleaf's business development and growth initiatives, particularly our M&A strategy."
For More Information on Curaleaf Holdings Inc., Click Here.
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media which has a partnership with www.MarijuanaStox.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
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