Or the metaphorical stock market roof… anyways, Canopy Growth Corp. and Aurora Cannabis are running the show. Both companies come from Canada where the medical side of the cannabis business is surging. Along with recreational beginning to see an upswing.
From the chart above Canopy Growth Corp. has been growing at a 215% rate. However, Canopy Growth Corp. is doing the right thing by acquiring land and buying businesses, which has aided in this direct upscale. With buying up cannabis businesses, their clientele of patients has already drifted towards 10% and that was in May of 2017.
Health Canada which is tied to medical cannabis has even relaxed quite a few rules when it comes to both recreational marijuana. Luckily enough Canada will see an income of $7 Billion annually and potentially higher. This is sole because marijuana will become legal instead of under strict federal coverage.
Somehow Aurora Cannabis is experiencing a high organic advantage when it comes to sales. Over a 5-quarter check in 2017 has nearly progressed each quarter over $1 Million each time, until reaching $4.3 Million towards the middle-end of 2017. Even though the company was under the Million mark in the third quarter of 2016.
What is throwing the Aurora Cannabis company in the limelight is the Aurora Sky project, which will be an 800,000 square foot building that caters to the sole purpose of medical marijuana. The total cost for the Aurora Sky project is $110 Million, and currently in production.
Also the recent buyout of the EU’s Pedanios GmbH which is a medical cannabis distributor. Allowing Aurora Cannabis to move forward on an international level with medical marijuana. Thus, opening doors to more potential EU clients.
These are the two medical cannabis stocks you should be watching.