Cannabis stocks on the Nasdaq continue to rally after approval of recreational marijuana use in California, Massachusetts, Maine and Nevada. Arkansas, Florida and North Dakota have introduced medical marijuana legislature as well, joining a growing number of states adopting various forms of the law.
Cannabis-related stock interest keeps climbing, from microcap to Nasdaq-listed equities. It’s a clear signal to investors: get ready for years of expansion as the number of states legalizing recreational or medical use continues to increase. The market will follow the law.
Looking ahead, it’s impossible to miss the potentially enormous economic ramifications of a booming new market of this kind. State by state, the numbers are clear: the California market is expected to surpass $10 billion by 2020, with Florida reaching $1 billion the same year.
Many stocks are undervalued as a result of tentative investors and limited adoption of cannabis products from biopharmaceutical companies. Mainstream investors have access to a limited number of Nasdaq-listed entities such as GW Pharmaceuticals (GWPH) in the a U.K., Insys Therapeutics (INSY) of Phoenix, Cara Therapeutics (CARA) in Shelton, Connecticut and Zynerba Pharmaceuticals (ZYNE) of Devon, Pa.
Each undervalued option listed above represent attractive acquisition targets with an appealing combination of intellectual property and current and in-development drug pipeline.
AGiMED is poised to cement its position in this growing market with a focus on best practices, sound science, sustainable processing and community enrichment. Our Puerto Rico facility is scheduled to open summer of 2017.