3 Marijuana Stocks That Could Be Set To Rally Ahead Of Elections
CORAL GABLES, FL / ACCESSWIRE / October 31,2018 / Marijuana stocks hold a place in the spotlight ahead of US midterm elections. On the ballot of several states are legalization proposals that could add to the growing list of legal locations across the US.
Since 2012, several US states, including Colorado, Washington and, most recently, California, passed legislation to legalize the recreational use of cannabis. Considered together, these states represent 21% of the total US population and 24% of total US GDP this market could be well positioned for growth. Furthermore, on a global scale, the same potential could reside. According to Grand View Research*, the global legal marijuana market size was valued at $9.3 billion in 2016 and is expected to exhibit a CAGR of 34.6% during the forecast period. The market is expected to witness significant growth owing to legalization in several countries and high demand for both medical and recreational purposes. Despite the recent downturn for some cannabis stocks, the US elections could increase interest for many marijuana companies
Integrated Cannabis Company (ICNAF) (ICAN) for instance, has focused on the product side of the cannabis industry. The company currently has a product portfolio of CBD and THC oral sprays and has also begun expanding its offering. In a recent announcement, Integrated Cannabis Company (ICNAF) (ICAN) announced an agreement to license Cannabidiol (CBD) formulated gummies.
Integrated Cannabis plans to begin distributing CBD-based gummies through its contract manufacturer, Titration Technologies, in Phoenix, Arizona.
"Gummies are an excellent way to introduce CBD to an older demographic that is typically wary of cannabis products. Our gummies will provide an approachable delivery method, that is easy to consume and with a great taste. We expect the bulk of the sales to take place online but also have plans to distribute through our existing networks to brick and mortar stores in Colorado and throughout the United States. We also plan to expand and introduce a product line of THC formulated gummies upon licensure approval", said John Knapp, CEO of Integrated Cannabis Company (ICNAF) (ICAN).
Shares of Integrated Cannabis Company (ICNAF) (ICAN) have climbed by 10% during early trading on Wednesday.
For More Information On Integrated Cannabis Company (ICNAF) (ICAN), Click Here
Cronos Group (CRON)(TSX:CRON.TO) shares also began trading higher on Wednesday morning. The company will announce its financial results and hold its Third Quarter 2018 Earnings Conference Call on Tuesday, November13,2018 at 8:30 a.m. EDT. Senior management will be available for questions from the investment community after prepared remarks.
In response to the recent legalization efforts in Canada, Cronos CEO Mike Gorenstein, stated, "At Cronos, we take pride in leading the industry forward responsibly and are motivated to create meaningful products that excite our consumers and bring happiness and an improved quality of life. The growth potential in the cannabis industry is vast and extends well beyond the flower. With our differentiated brands, global footprint, growing production capacity and commitment to cannabinoid innovation, Cronos is well positioned to realize this opportunity."
For More Information On Cronos Group, Click Here
Tilray (TLRY) shares saw higher trading prices during Wednesday's premarket session. Earlier this month the company announced that it has completed an acquisition of its existing import and distribution partner Alef Biotechnology SpA. The acquisition is said to allow Tilray to import, produce and distribute Tilray branded medical cannabis products in Chile and to create a hub to distribute Tilray products throughout Latin America.
This morning Tilray announced that Brendan Kennedy, President and Chief Executive Officer, and Mark Castaneda, Chief Financial Officer, Secretaryand Treasurer, will present at the Morgan Stanley Global Consumer and Retail Conference. The presentation will be on Wednesday, November 14,2018 at 1:00 p.m. ET and the simultaneous, live webcast will be available on the Investors section of the Company's website. The webcast will be archived for 30 days.
Tilray focuses on medical cannabis research, cultivation, processing, and distribution. Tilray is said to be the first GMP-certified medical cannabis producer to supply cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, hospitals, governments and researchers on five continents.
For More Information On Tilray, Click Here
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MAPH Enterprises LLC which owns www.MarijuanaStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Integrated Cannabis Company, Midam is being paid $25,000 per month for a period of 2 months beginning September 4, 2018, and ending March 9, 2019. This payment has been increased to $75,000 per month for the period of November 42018 and ending March 9, 2019. We own ZERO shares of Integrated Cannabis Company. We may buy or sell additional shares of (ICNAF)/(ICAN) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Integrated Cannabis Company. MarijuanaStocks.com, which is owned by MAPH Enterprises LLC., a Florida Corporation has been previously compensated $100,000 by a non-affiliate 3rd party for a 1 year period beginning August 1, 2017 and ending August 1, 2018 to publicly disseminate information about CNRP Mining, Inc. (CND.CN) (CRPGF) that is now Integrated Cannabis Company. Please click here for full disclaimer
*Grand View market report: https://www.grandviewresearch.com/industry-analysis/legal-marijuana-market
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