One of the least known Canadian companies has just opened up an opportunity for investors which could help them rip off magical profits from the upcoming marijuana boom. If you don’t know this yet then you are about to lose out on a lot! An estimated $80 billion marijuana boom is about to happen and there’s no denying this fact.
Speaking of the legalities, Cannabis has been officially legalized in most of North America and as many as 11 states which include Washington D.C. The usage of Cannabis as a recreational drug has been a trend in the last few years and the full legalization in Canada happened in October 2018. If calculated on fiscal terms, legal marijuana is worth around $50 billion for the U.S. on this date. And experts have projected that the worth is about to reach $80 billion in the next 10 years! With such great potentials, it does call for the attention of all those investors out there waiting to put their money in for the long term.
It doesn’t matter if you are excited to try out the new THC on offer; the booming $80 billion markets for the same does await your involvement as an investor. Doesn’t it? However, this is a completely new industry that is untested and yet to be proven with returns. In the past, some of the major stocks which were predicted to grow this big were –
- Amazon- $15.31 per share
- Netflix- $1.85 per share
- Disney- $1.84 per share
Recently a game-changing deal took place between the Ontario government and powerhouse Canadian company. And this is the very company that now has an opportunity to turn the $7 billion Canadian cannabis industry into a popular stock by working amidst the $80 billion cannabis industry of the US.
OrganiGram Holdings (NASDAQ: OGI) is one of the cannabis stocks from Canada which has been substantially well received by the investors. Though the stocks of OGI slid 31.4% since the last year, it has great potentials to do amazing due to the recent legalizations in both U.S. and Canada. The production capacity of OGI is lesser than its competitors such as Canopy Growth (NYSE: CGC). The former produces 113,000 kilograms while the latter produces a huge 550,000 kilograms of cannabis in Canada in a year. The favorable retail environment for Cannabis in the U.S. and Canada along with some other parts of the world where the same will be legalized in upcoming days does ensure great growth potential for Cannabis stocks.
The potential of the legal market can boom the business to its maximum extent and being an investor, this is high time to take hold of such stocks and hold them for long!