The legal cannabis (marijuana) industry is booming. According to Forbes.com, it was worth an estimated $7.2 billion in 2016. With double digit annual growth, adult recreational sales alone are expected to jump from $2.6 billion in 2016 to $11.2 billion by 2020.
In addition to recreational sale, medical marijuana sales are expected to more than double to $13.3 billion by 2020. That’s a combined annual market of over $24 billion, anticipated in just the next 3 years.
Does AG Sessions worry you?
Jobs, state’s rights, and taxes. That’s right. Jobs, state’s rights and tax revenue are the cannabis industry’s secret weapons against marijuana detractors in the Trump administration and elsewhere.
According to a survey conducted by Marijuana Business Daily, the marijuana industry already employs over 100,000 peoplein the U.S. alone.
Along with billions in sales, comes millions in tax revenue.Motley Fool estimated that in 2016, Colorado’s marijuana tax haul likely exceeded $200 million. That’s a lot of green. And it’s only going to continue to grow each year.
SMITH FALLS, Ontario – Another milestone for the cannabis industry was reached today…
Canopy Growth [TSX:WEED], Canada’s largest and arguably most successful marijuana company – has been added to the S&P/TSX Composite Index. The index represents nearly 70% of the total market capitalization on the Toronto Stock Exchange and is considered a key benchmark for the Canadian equity market.
With the addition of Canopy Growth to the index, more and more investors will now be ‘buying and holding‘ weed.
Canopy Growth has a marketcapitalization of $780.6 million and a year-to-date stock price change of +192%.Canopy Growth is definitely a cannabis company to watch in 2017.
Update – March 27th, 2017
According to the CBC, PM Tradeau will announce legislation on April 10th – to legalize marijuana for recreational use in Canada by July 1, 2018!
Shares of Canopy Growth Corp.jumped 11% in trading on the news.
VICE News gets an exclusive look inside Canopy Growth Corp., the Canadianmarijuanaproducer that calls itself the world’s largest legal weed company.
After the Vice video about the Canopy Growth Corp was published, it was subsequently restricted to the UK audience alone.
Link to UK restricted video. Once the video is republished without this restriction I will update this post with the new version.
Until then, I have substituted the video with another from Vice News – intended for the U.S. audience:
So far the company has only been allowed to sell to medical patients, but that will all change when prime minister Justin Trudeau makes good on his promise to legalize marijuana for recreational purposes. And that’s especially good news for Canopy, which has been gearing up to dominate the future recreational market for years, even though the government hasn’t yet even unveiled its legalization plan. This year, its subsidiary Tweed announced a partnership with Snoop Dogg, and it became the first weed company to list on a major stock exchange.
But there’s questions around the corporation’s deep ties to the ruling Liberal party, and how much influence it has over government policy and who will get left out of Canada’s future weed regime.