A new report by Grand View Research, Inc. is predicting that the global legal marijuana market will hit $146.4 billion by the end of 2025.
The report says:
"Countries like Canada, the US, Germany, and Australia are expected to emerge as leading markets in terms of sale, whereas, countries like Israel are focusing on research and technology development and are leveraging on knowledge transfer."
So if this is the case, then no stone is being left unturned; where already legal, the marijuana market is showing big business with massive sales revenue. Where it isn't legal yet, cannabis is being researched and developed at a fast pace.
Worth a purported $146.4 billion in 6 years, the potential of the marijuana market lies ahead, not behind. So, in light of this, let's take a look at two of the industry's biggest names who are pushing ahead.
Marijuana Market: Canopy Growth (TSX:WEED) (NYSE:CGC)
Finally, Canopy Growth stock is turning around. In the green today, the company issued 60,488 common shares to Flight North Inc. and Willmont Capital Ltd. This was in connection with the share purchase agreement between Canopy, TS Brandco Holdings Inc, and the Vendors.
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According to CEO Bruce Linton, Canopy is focused on pushing its product across Canada and into every legal jurisdiction in the US and internationally. At the time of writing, CGC stock is up 0.66% and selling for $51.87.
Marijuana Market: Aphria (TSX:APH) Looks for Up-Listing to NYSE
Aphria is looking to up-list its stock to the New York Stock Exchange. This would mean it would join Canada's three other biggest marijuana producers on a major US exchange. Canopy Growth (NYSE:CGC) and Aurora Cannabis (NYSE:ACB) both already trade on the NYSE.
According to Aphria CEO Vic Neufeld, the company is starting fiscal 2019 in a strong position:
"We advanced the build-out of our expansion in Leamington, signed coast-to-coast supply agreements, launched our strong portfolio of adult-use brands, and created strategic collaborations with leading companies like Perennial that will ensure Aphria continues to lead the consumer experience as the cannabis industry evolves."
Despite its position, Aphria is in the red today. At the time of writing, it is down 2.10% and selling for $15.88 CAD. However, you can't keep a good thing down for long. With an encouraging new report and a potential up-listing on the horizon, things will no doubt turn around for Aphria in the marijuana market.
Featured Image: Depositphotos/© Feverpitch
