The following is an excerpt from Sean Williams | July 30, 2018 | ibtimes.com |
According to cannabis research firm ArcView, legal weed sales in North America catapulted higher by 33% in 2017, and they're on track to grow by an average of 28% per year through 2021, leading to nearly $25 billion in annual sales.
A big part of that growth will come from our neighbor to the north which, by the passage of the Cannabis Act (officially bill C-45), becomes the first industrialized country in the world to green-light the sale of cannabis to adults. All told, this could add $5 billion in yearly sales, on top of what the Canadian industry is already generating from domestic medical weed sales and exports to foreign countries where medicinal cannabis has been legalized.
Marijuana companies push to uplist and go public
These big dollar signs have Wall Street and investors very intrigued, which is a big reason marijuana stock valuations have headed through the roof. It's also the basis of why Canadian-listed pot stocks are looking to uplist to more reputable exchanges, and why U.S.-based pot companies are looking to Canada to go public.
This year alone, we've witnessed two Canadian marijuana stocks uplist their shares from the over-the-counter (OTC) exchange to more reputable exchanges in the United States. It all began with Cronos Group in late February, which listed its shares on the Nasdaq.
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