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More and more countries have decided to consider legalizing cannabis and provide entrepreneurs with opportunities to make money and maintain the economy.
In 2019, cannabis stocks should prove their value on Wall Street by generating stable profits. However, things are not so smooth. Many investors missed opportunities because of high tax rates and supply chain problems in the United States and Canada. These obstacles have promoted the vigorous development of the black market and heartbroken investors in cannabis stocks-no one can foresee government concessions.
Despite all these setbacks, some cannabis stocks still have good market value. Do you want to know how entrepreneurs in this industry have legally sold cannabis for profit during this period? Please continue reading:
Canopy Growth And Its Bright Start
Canopy Growth Corporation (also known as Tweed Marijuana) was founded in 2013 by two friends Chuck Rifici and Bruce Linton.
Due to its stock value and market value, it became the world’s largest cannabis company in 2019. The company even survived all the challenges in 2019 and did not lay off any employees. During the crisis, Canopy Growth had 3,200 employees.
Today, Canopy Growth is legally selling its products to 16 other countries (Spain, Germany, Australia, Canada, Jamaica, Czech Republic, Chile, etc.). At the end of 2019, the company established a partnership with the British think-tank Beckley Foundations, which will allow them to sell medical cannabis across the UK.
Canopy Growth Corporation’s new CEO David Klei said that this is just the beginning of their company. In 2019, they also announced the launch of edible cannabis products such as chocolate and beverages. By the end of 2020, the company may have more surprises. Mr. Klei has a point – it is only the beginning.
Curaleaf Holdings and its Cannabis King named Boris
Curaleaf Holdings (CURLF) is a Canadian company that produces and distributes cannabis-based products worldwide. There is a special thing about the company. As the company owner stated on its website and in numerous interviews, research and advocacy helped them become leaders in the highly competitive industry.
By 2020, Curaleaf operates more than 57 pharmacies in the United States and Canada. No wonder Borale Jordan, chairman of Curaleaf, is known as the Cannabis King in American mass media.
GW Pharmaceuticals is a UK-based pharmaceutical company that uses natural cannabis to help treat patients with multiple sclerosis.
In 2018, its cannabis-based products such as Sativex and Epidiolex approved by the US Food and Drug Administration. Pharmacies in London, Prague, and Las Vegas can find their products.
In 2020, the company’s net worth is $3.21 billion. Currently, the company has branches in Germany, France, Spain, Italy, and the United States.
Cronos Group (CRON) is an innovative global cannabis company with offices in New York. In 2019, the company received a $2.4 billion equity investment from Altria Group, the largest tobacco producer.
Investors consider the Kronos Group to be one of the most cash-rich cannabis stocks in the industry. The company was founded in 2016 and initially operated by only 20 employees. At present, the Kronos Group has nearly 1,000 employees. The company’s CEO Mike Gorenstein said that they have more ambitious plans for the future.
Tilray (TLRY) is another cannabis company with an essential position in the stock market and is one of the first medical cannabis producers in North America. Tilray is a Canadian pharmaceutical company with operations in the United States, New Zealand, Portugal, Australia, Germany, and Latin America.
After marijuana legalized in the United States, Tilray was the first cannabis company to export its products to Americans legally. The company listed on the NASCAR stock exchange for $17 per share.
In 2018, the price rose to $214 per share. However, the crisis in August 2019 brought Tilray founder Brendan Kennedy back to the bottom. The price dropped to $29 per share. Despite this failure, the company is still operating, with a capital of $1.18 billion.
The Bottom Line
The cannabis industry is developing rapidly around the world. We may hope to have more companies put on the market soon. However, at this point, entrepreneurs need more government support.
Politicians may not be interested in helping the cannabis business. On the other hand, they should be more inclined to combat the illegal drug trade. Supporting local cannabis companies will help create the necessary public income and provide jobs, but will also help protect users from inferior cannabis products.
Continue at: https://vapebiz.net/top-5-richest-cannabis-companies-in-2020/
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