The cannabis industry is currently booming in the U.S. and Canada as acceptance toward the plant continues to grow even further.
For instance, Canada has recently legalized recreational marijuana in all areas under its jurisdiction, according to BBC. The bill was passed after a 52-29 vote from the Senate, and with the Cannabis Act coming into full effect, the government also has control over how the drug will be cultivated, manufactured, and distributed.
On the other hand, a majority of states in the U.S. have permitted the use of some form of marijuana. While it is hard to predict the future of the industry, we can still easily say that things are looking up for cannabis in the years to come.
One of the guarantees of the cannabis industry is that it is set to receive more investments as it grows in demand and acceptance. Be it the cultivation or distribution process, money is big in the cannabis industry, and that is what investors are being drawn in to.
A recent research from Marijuana Business Daily says that cannabis retail sales continue to grow every year. This year’s retail sales are expected to be approximately 50 percent higher than last year. In total, the cannabis industry is well on its way into reaching as much as $10 billion by the end of 2018. Additionally, annual retail cannabis sales in the United States are expected to exceed $20 billion by 2022. If this does happen, then it will pose a 200 percent increase from 2017.
This massive growth by the industry is set to have an economic impact of between $28 billion and $34 billion in 2018. Cannabis is clearly one of the disruptors in the field of medicine, so it should be no surprise that it is seeing a tremendous rise in the number of users.
The immediate beneficiaries from this increase in investments are certified leaders like PotNetwork Holdings, Inc. (OTCMKTS:POTN). In the cannabis industry, quality is the key in becoming one of the top leaders, and POTN has proven time and time again that what it has to offer is only high-quality cannabidiol (CBD) products. Aside from expanding its products, POTN is also busy with improving investor relations.
In a recent announcement, POTN says that its board is preparing to file a Form 10 to the Securities and Exchange Commission not later than June 30. With this process, POTN will become a reporting company to the SEC. It will further heighten its transparency to its investors, making it a more credible stock market option.
POTN is slowly but surely inching its way into becoming the most viable share to invest in. At the time of this writing, the company is currently trading at $0.38, making it an ideal choice for investors looking to spend less for a share with high potential.
As investments in the cannabis industry keep pouring in, people should become more discerning when it comes to where they place their funds on. Despite the progress, investments should still be made with a lot of considerations in mind. Many companies are struggling with the current regulations surrounding the cannabis industry, and as such, relying on established names like POTN is still the best option.