The growth of some cannabis stocks, and the cannabis industry in general, over the past 12 months has been significant. It’s hard to look at it without awe. After all, there was once a time (and still is in places) when we would criminalize cannabis, not think of it as a profitable financial route.
And a lot of that has to do with countries announcing medical cannabis legalization. For instance, according to Prohibition Partners, more than €500.0M has already been invested in cannabis businesses based in Europe. With figures like that, many speculate cannabis stocks with promising European operations will succeed over the next couple of years.
Here are three.
Three Cannabis Stocks Forecast to Thrive in Europe
1. ICC International Cannabis Corp. (CSE:WRLD.U)
With headquarters in Vancouver, British Columbia, Canada, ICC International Cannabis is a vertically-integrated cannabis company. It focuses primarily on designing, building, and operating high-quality cannabis output, processing, and distribution facilities.
Despite having operations across the globe, ICC International Cannabis has a large presence in Europe, holding multiple positions. In Europe, for instance, ICC International Cannabis holds a license to extract and manufacture cannabidiol products in Poland, while also holding a manufacturing license in Denmark.
What’s more, ICC International Cannabis holds the license to be one of three companies to import cannabis into the United Kingdom.
2. StillCanna Inc. (CSE:STIL)
Also headquartered in Vancouver, Canada, StillCanna is an early-stage life sciences company. At the moment, StillCanna’s primary focus is CBD extraction in Europe. And it’s executing this focus well. Right now, StillCanna is forecasted to become one of the lowest cost cannabidiol extractors in Europe, already signing an exclusive extracting contract with U.K. Dragonfly BioSciences.
With that in the works, and StillCanna entering a strategic acquisition in March that will give the company a CBD production facility in Poland, StillCanna is likely a name to come up within the European cannabis market in years to come.
3. Aleafia Health (TSX:ALEF)
Seeing Aleafia Health on this list isn’t surprising. The medical cannabis cultivator has proven itself as a leader in the Canadian market, owning three cultivation facilities and operating nationwide through medical cannabis clinics. As of now, there are 22 Aleafia Health operating clinics in Canada.
This month, Aleafia Health said it is entering the German medical cannabis market. It is doing so through its joint venture with Acnos Pharma Gmbh, a German pharmaceutical wholesaler. When you consider Aleafia’s success in Canada, it makes one wonder what the company will be able to do in Europe, now that its entered the German market.
Of course, these are not the only cannabis stocks that will do well in Europe. If we’re basing the argument on companies moving into European markets, like the German market, then The Green Organic Dutchman might want to be considered as well. On Monday, TGOD said it is also entering the German cannabis market.
All we know is that the European cannabis market might be worth around €123.0B by 2028, and ICC International Cannabis, StillCanna, and Aleafia Health are three cannabis stocks that right now show this figure coming true.
Featured image: DepositPhotos