Though cannabis companies that are based in the United States are often neglected in stocks due to Canadian companies, they offer more opportunities. The more states that are opting to make marijuana legal, the more chances it has in the stock market. Canadian markets for cannabis may soon be lacking in the industry.
So far, marijuana has become legal in 15 states throughout the United States. It is not legal for federal use, however, which is why Canada does not sell the products to the United States. Despite this, however, it is important to research the producers that have the largest stocks, with Curaleaf Holdings in the lead in the United States and Canopy Growth Corporation in the lead in Canada.
Despite the issues in legalities in the United States for these producers, they are still making income. Five of the largest producers brought in a combined $1.715 billion. In Canada, the five largest only brought in $1.284 billion.
Investors need to keep a watch on the market in the United States. It could grow exponentially if legality ever occurs on a federal level. CNBS remains the strongest competitor currently too, so be sure to keep an active eye on this producer.
Every producer of marijuana that is known in the industry has grown in the last year. CNBS, however, has doubled its revenue over the last year alone. It will be exciting to see what happens next for these companies that specialize in marijuana and for the investors with them.