The North American marijuana market is growing at rates that are similar to those recorded by broadband internet in the 2000s. This stunning comparison, noted in a 2017 report by Arcview Market Research, highlights the potential short-term and long-term effects of what many analysts are referring to as the “green rush.” ABcann Global Corp. (OTCQB: ABCCF) (TSX.V: ABCN) (ABcann Profile) is one company looking to make the most of the opportunities presented by this growth.
With a strong cash position and plans to implement one of the most aggressive expansion plans in the industry, ABcann could be the next in a long line of cannabis stocks that have exploded in value in recent years. Some examples include Canopy Growth Corp. (OTC: TWMJF) (TSX: WEED), which rose by more than 700 percent following its initial public offering; Aphria, Inc. (OTCQB: APHQF) (TSX.V: APH), which spiked from C$0.75 at IPO to a high of C$6.60 earlier this year; Supreme Pharmaceuticals, Inc. (OTC: SPRWF) (TSX.V: FIRE), which soared by over 1,600 percent after its IPO; and industry investment firm Cannabis Wheaton Income Corp. (OTC: KWFLF) (TSX.V: CBW).
While the U.S. cannabis market continues to evolve, Canada is currently preparing to legalize recreational marijuana at the federal level, becoming the first G7 country to do so. The new law, set to come into effect on July 1, 2018, will expand upon a booming medical marijuana market led by a number of licensed growers.
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