The potential for the marijuana industry is limitless. As the market expands into more and more states, the private sector has been preparing to meet the demand for one of the most used drugs out there. “Medical cannabis is expected to grow at anywhere between 25 and 35 percent compounded annually over the next 5 years. The industry has multiple growth engines. Medical cannabis is legal in 29 states, and many expect remaining states to approve the use of medical marijuana in the next years.” According to Investing.com.
Canny investors have been preparing for the weed boom for years but if you were late getting into the market here are some tips.
Investing.com put together a short list of companies to be on the lookout for.
AbbVie (NYSE:ABBV) is already an established drug manufacturer, with the added value of having an FDA approved cannabis based drug – Marinol. It comes with the advantage of not being dependent on the success of medical marijuana in the United States or elsewhere.Aurora (TO:ACB) Cannabis is another option. Based in Canada, the company is developing a state of the art 800 thousand square foot automated farming facility.
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If you are interested in getting into the marijuana trade, make sure to keep an eye on these companies going forward.
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