Major Industries eye the Cannabis Market in Search of Renewed Growth Opportunities – PRNewswire

NEW YORK, April 12, 2019 /PRNewswire/ — Canadian cannabis companies have recently begun launching operations within the U.S. due to the attractive growth opportunity the country presents. In particular, states that have legalized recreational use, such as California, Colorado, Nevada, and Washington, have become popular regions. Furthermore, as they expand operations around the country, cannabis-based companies are also looking to list either on the New York Stock Exchange or the Nasdaq Exchange, the two largest exchanges in the world. As legalization efforts continue to ramp up, more and more companies are listing or uplisting onto these major exchanges. The explosive growth of the cannabis marketplace has allowed the industry to become a trending topic among investors and analysts alike. As such, investment banks such as Piper Jaffray, RBC Capitals, and Cowen have backed the industry by covering publicly traded cannabis-based companies. For example, RBC Capitals analyst Nik Modi believes that cannabis is the next up and coming global industry. Modi expects the legal U.S. cannabis market to grow at a CAGR of 17% and reach as much as USD 47 Billion within the next decade. Globally, the medical cannabis sector accounts for the majority of the overall market share, however, Modi suggests that the industry will continue to grow due largely to the recreational sector. The only countries that have fully legalized cannabis are Canada and Uruguay, however, a handful of countries maintain lenient regulations regarding personal consumption. Despite Canada and Uruguay both having legalized cannabis entirely, the U.S. is still the biggest market driver. Although the U.S. has only 10 states and the District of Columbia that have legalized cannabis, the U.S. alone is positioning the industry to become the next disruptive market. WeedMD Inc. (OTC: WDDMF) (TSX-V: WMD), Pyxus International Inc. (NYSE: PYX), Aphria Inc. (NYSE: APHA) (TSX: APHA),

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