Cannabis-related plants serve as the source of the herbal medicine known as marijuana. Cancer and chronic pain are two conditions for which cannabis is used as a therapeutic component. The market is anticipated to grow at a CAGR of 32.04 percent from 2021 to 2028, reaching $197.74 billion. In the upcoming quarters, US-based businesses are more likely to surpass their Canadian competitors. This is as a result of marijuana being quickly legalized and having a larger market in the US. Less than ten percent (8%) believe marijuana should not be permitted for adult usage. The marijuana market is expected to grow to be a very profitable business option and a great source of growth for your portfolio. Companies like Tilray, Inc. and Jazz Pharmaceuticals Inc. are prepared to profit from these changes.
Insider Monkey chose 10 medical marijuana stocks to buy now. The net income for the first quarter of 2022 for Green Thumb Industries Inc. increased by 179 percent to $28.9 million ($0.12 per basic and diluted share). Seaport Global analyst Sonny Randhawa started coverage of the firm with a Buy rating and a $15 price objective. An American business called Trulieve Cannabis Corp. deals in the sale of medical cannabis goods and services. It grows and produces its goods on-site, then distributes them to stores under its own name and also delivers them home to patients. Located in Delta, British Columbia, Canada, Village Farms International, Inc. is a vertically integrated provider of vegetables and marijuana. Given the anticipated significant near-term growth in Canadian cannabis and the shares’ discount to peers, Craig-Hallum analyst kept a Buy rating on the stock. In its third fiscal quarter of 2022, OrganiGram Holdings Inc. reported substantial revenue growth. Strong Canadian adult-use sales drove the company’s sales over Wall Street projections. The amount of revenue for the quarter was $29.09 million, an increase of 79.14 percent from the same period last year. A corporation specializing in both medicinal marijuana and adult-use recreational cannabis is called Cronos Group Inc. In the second quarter of the company’s fiscal year 2022, medical marijuana sales were $45.7 million, accounting for 75% of total revenue. For more details, click 10 Medical Marijuana Stocks To Buy Now.