Daily Management Review

Cannabis industry is skyrocketing in the US


05/09/2017


The marijuana industry is developing with leaps and bounds, and shares of manufacturing companies are rising at a record pace. Let’s take a look at the growth dynamics of the seven largest companies engaged in the manufacture and sale of marijuana in the last year: GW Pharmaceuticals: + 35%, Canopy Growth: + 248%, Aphria: + 267%, Aurora Cannabis: + 267%, Cara Therapeutics: +141 %, Zynerba Pharmaceuticals: + 146%, Medical Marijuana: + 225%.



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The reason for this rapid growth in stocks lies in increase of sales. ArcView research company says that legal marijuana sales in North America grew by 34% to $ 6.9 billion in 2016. Investment firm Cowen & Co. believes that this figure will increase to a record 50 billion (with an annual growth of at least 23%)by 2026. Such rates look attractive both for business and for investors.

And there is every reason to believe that the marijuana industry will attract even more investors in the near future. The main reason is growth of public support for the legalization of marijuana.

According to a poll by CBS News, which surveyed more than 1,000 respondents, a record 61% of Americans support the legalization of the drug - compared with 33% against it. At the same time, 88% of the respondents noted that they support universal legalization of medical marijuana.

Above that, the survey revealed two more interesting facts. First, 53% of respondents consider alcohol to be more harmful than marijuana (whereas only 7% believe in the contrary). And secondly, the respondents are ambivalent about the causal relationship between the use of marijuana and violent crimes. 23% are sure that the drug leads to an increase in crime, while 22% believe that its use, on the contrary, reduces the number of crimes. 49% at all believe that there is no connection between them.

Summarizing, we can talk about softening of public opinion in relation to marijuana and, probably, rapid development of the industry. Currently, eight states of America have legalized use of the recreational marijuana. And the Canadian authorities are already considering a bill on the full legalization of the light drug. 

source: marketwatch.com






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