CORAL GABLES, FL / ACCESSWIRE / January 11, 2019 / The cannabis industry has been notoriously successful over the course of the past several years. With the recent increase in capital and sheeramount businesses entering the market, the nascent sector has seen unprecedented growth in marijuana stocks. As public opinion surrounding cannabis becomes increasingly more favorable, the marijuana industry may begin to present an appealing opportunity for investors looking into space. As experts and professionals in the field work to develop innovative approaches to developing products utilizing cannabis/hemp, the industry as a whole may benefit. ParcelPal Technology Inc (PTNYF) (PKG), Canopy Growth Corp (CGC) (WEED.TO), Tilray Inc (TLRY), and New Age Beverages Corporation (NBEV) are 4 pot stocks that are heating up on Friday.
ParcelPal Technology Inc (PTNYF) (PKG), along with other companies in the space, is taking advantage of the fact that, as technology has evolved over the years, so too has the industry surrounding delivery apps and their growing popularity. The opportunity that ParcelPal may be presenting now draws comparisons to the way early investors had an opportunity with companies like Uber andGrubhub before they went mainstream in the US.
ParcelPal Technology Inc (PTNYF) (PKG) created an on-demand marketplace where customers can shop for anything from food to clothes, and customers need only shop from the app, choose the items they want, and wait for the delivery within one hour.
In recent news, ParcelPal Technology Inc (PTNYF) (PKG)'s President and CEO Kelly Abbot provided investors with a corporate update, via a press release issued earlier this week, which shared all significant accomplishments from the company throughout the duration of 2018.
Following this announcement, President and CEO Kelly Abbott said, "We are continuously executing on our strategic plan, attracting potential partnerships, and looking at further city expansions. The opportunities are endless for evolution and revenue diversification within the on-demand delivery industry. We have been reinvesting into our technology platform and have begun to scale our service across Canada and now into the United States."
Canopy Growth Corporation (CGC) (WEED.TO) lauded the passing of the US 2018 Farm Bill in a press release on Monday. The Company included, in their praise, updates on their hemp operations as they prepare for US market entry due to hemp's legalization from the new bill.
Bruce Linton, Chairman and Co-CEO, Canopy Growth, said, "Canopy has been preparing for and investing in this opportunity for several years now, through strategic acquisitions, infrastructure expansion, and extensive internal research and development. With the door now open, we are moving fast to bring our considerable resources to establish the same market leadership position internationally that we have earned in the Canadian cannabis market.
Tilray Inc (TLRY), a global pioneer in production, research, and distribution of medicinal cannabis, announced in mid-December that its wholly owned subsidiary, Tilray Canada Ltd, had entered into a global framework agreement to collaborate with Sandoz AG, a global leader in generic pharmaceuticals and biosimilars and a part of Novartis group, to increase availability of high quality medical cannabis products across the world.
In response to the agreement, Brendan Kennedy, Tilray's Chief Executive officer, said, "This agreement represents a major milestone in the movement to provide access to safe, GMP-certified medical cannabis to patients in need across the world. Tilray is a global company and we're thrilled to build upon the success and momentum from our existing agreement with Sandoz Canada by taking our partnership global. Sandoz AG will be a valuable partner as we work together to improve access to the highest quality medical cannabis products in countries all over the world."
New Age Beverages Corporation (NBEV) wowed market analysts and investors towards the end of December, when they announced that they had closed on the merger with Morinda Holdings, Inc., a Utah-based healthy beverages and lifestyles company with operations in more than 60 countries.
Brent Willis, Chief Executive Officer of New Age Beverages commented, "Since the announcement of the merger, we have been extremely busy. New Age continues to secure major national retail distribution on its key brands, and Morinda has been rapidly expanding its new Noni+Collagen brand globally. More cost synergies are emerging from the convergence teams and the countries are extremely enthusiastic about the potential of New Age's current and impending brand portfolio through their system. Integration is already well on track, and we have a high degree of confidence in our plans for 2019."
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