Namaste stock has hit a few bumps in the road during the first 12 months of cannabis legalization, as have pot stocks across the board. However, legalization 2.0 comes into effect on October 17, with products expected to hit shelves by mid-December, and Namaste Technologies (TSXV:N) (OTCQB:NXTTF) looks set to be one of the biggest beneficiaries in the 2.0 market. Let's take a look:
What is Legalization 2.0?
Canada's legalization of recreational cannabis has been split into two parts in order to allow for regulations to be properly established around cannabis derivatives. The first phase of legalization came into effect on October 17 last year, which legalized dried and fresh cannabis, cannabis oil, cannabis plants, and plant seeds. The second phase comes into effect exactly one year later, paving the way for products such as edibles, vapes, topicals, and even infused beverages to come on stream by mid-December once the necessary paperwork is filed. So, how can Namaste stock benefit?
Namaste Stock in the 2.0 Market
As we mentioned above, Namaste stock hit a few bumps in the road during year one, but under new corporate leadership led by recently appointed CEO Meni Morim, Namaste Technologies looks to have put its troubles in the past. The company has been described as "the Amazon of cannabis" in the past, and based on its portfolio, it looks as though it might just live up to that title.
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Namaste Technologies is a global leader in the cannabis e-commerce market, operating 36 websites in 20 countries. Its flagship Canadian site, CannMart, has everything that the expected three million new 2.0 consumers will be looking for. From an already available wide range of vapes to Namaste's expansion into edibles following its 49% acquisition of Choklat, CannMart looks well stocked up to meet all the demands of the 2.0 market. You can pick up Namaste shares for as little as $0.29 today, which looks like one of the best pot penny stocks on the market.
The Takeaway
Legalization 2.0 looks set to inject the cannabis market with a much-needed booster after a year that saw scandals, supply issues, and regulatory confusion hold back what many investors saw as a potential "green rush." With demand for cannabis derivatives expected to rise by three million, and an increasing trend of consumers flocking to e-commerce, Namaste stock could be set for a very big year ahead.
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