The cannabis market is growing rapidly in the West. So it is likely going to be one of the biggest money makers in the near future. Analytics from different parts of the world have estimated that by the year 2029, the cannabis industry will reach almost to $200 billion or even more depending on the circumstances prevailing at that time. Even though it is hovering around $8-10 billion marks in 2019, the industry has some promising aspects attached to it. So investors and shareholders are very much interested to take this leap. You can take a visit weed millionaire website if you want to know more.
There is certainly some very influential cannabis stock listed in different exchanges, but these three stocks – Canopy Growth (NYSE: CGC), Aurora Cannabis (NYSE: ACB), and the Cronos Group (NASDAQ: CRON) are the ones which will steal the show. Have a quick look at their growth prospect in the coming years. Meanwhile, if you want the best cannabis, then visit weed millionaire website, a brilliant website for cannabis trading for investors.
- Canopy Growth – one of the biggest cannabis manufacturers in the West, Canopy Growth has more than 70,000 kilos worth of cannabis being supplied to all the provinces of Canada. They have more than 9 million acres of cultivable cannabis growing area. But now they are planning an extensive expansion plan in the United States and push their products in the US hemp market for more growth and revenue. These expansion plans are likely going to be really profitable for the company and the shareholders in the long run. The revenue of the company is supposedly going to cross $500 million in the next few years, especially by 2024.
- Aurora Cannabis – the largest cannabis grower in Canada, the company has more than 625,000 kilos of annual cannabis output and will cross the 700,000 kilos mark by the end of 2020. They have the authorized licenses to expand into even more areas in the West and their strong local market allows them to generate a significant amount of revenue. The company has also established a team of experts to set up a medicinal wing which will carry out all the research and studies related to cannabis for mainstream medicine. They are planning to expand their reach to more than 20+ countries as well.
- Cronos Group – a very promising company, the Cronos Group is extensively supported by Altria with almost $1.45 billion investment made. The company has also brought 45% no diluted stake in Cronos Group which indicates that Altria will either purchase the company completely in the coming years or they will inject more money to turn it into a successful brand with massive growth prospect.
So here is the top 3 cannabis stock that you will need to have a look at in order to make big profits in the long run. The cannabis industry is growing and these companies will surely play a significant role in its growth and development.