A decade from now, investors may very well look back and proclaim the cannabis industry to be the greatest growth opportunity of our generation. We know the demand is there given the tens of billions of dollars that exchanges hands in illicit channels each year. It's simply a matter of ongoing legalizations and ramp-up efforts to move those black-market pot sales into legal channels. If this happens, $75 billion in annual sales by 2030 is easily achievable, according to one Wall Street firm.
But what you may not realize is that while many of the major legal players have billion-dollar market caps, not all of them fit the mold of what you'd think a major cannabis company would look like. Right now, there are three marijuana penny stocks that are expected to be very important players in the Canadian pot industry.
Auxly Cannabis Group's (NASDAQOTH:CBWTF) market cap of $355 million, as of closing on Wednesday, July 3, is hardly pedestrian. However, its $0.60 share price (that's 60 cents), doesn't exactly fit the definition of a company you'd expect to be a leader in the cannabis space. But rest assured, Auxly may very well be the real deal.
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