CORAL GABLES, FL / ACCESSWIRE / October 30, 2018 / According to a new estimates from cannabis industry analysts the Brightfield Group, the hemp-CBD market alone could hit $22 billion by 2022. CBD, a non-psychoactive cannabinoid found in cannabis, has been shown to help with everything from PTSD and anxiety to MS and epilepsy – without getting a user high.
A RollingStone[dot]com article* explains, “Previously, CBD products have been available mostly in head shops, with a few doctors recommending it for various maladies. But in 2017 and 2018, the products spread to natural food stores, beauty aisles, cafés and doctors offices. So far the industry is on track to hit $591 million in 2018, and thanks to a number of factors – including, surprisingly, Senate Majority Leader Mitch McConnell – that could increase 40 times in the next four years.”
As headlines continue to support strong growth for the cannabis industry, here are 3 marijuana stocks to watch:
ICC International Cannabis Corp. (WRLD)(KNHBF) provided a corporate update today pertaining to the continued development of its medical Cannabis and cannabinoid portfolio.
Eugene Beukman, chief executive officer and director of ICC, stated: “Over the past eight months International Cannabis has undergone a transformational shift, demonstrated by the expansion of the Company’s portfolio holdings. ICC believes it is a preeminent player in the evolving international Cannabis realm and looks forward to further illustrating exciting developments in the coming weeks.”
ICC International Cannabis Corp. (WRLD)(KNHBF) has been expanding globally during recent months. On October 23, 2018 the Company acquired Polannabis Holdings. Polannabis, through a subsidiary, controls a Polish hemp processing and extraction license. The license permits the extraction and manufacturing of cannabinoid-(CBD)-derived products from hemp. Polannabis has access to over 850 acres of premium hemp crops, estimated to produce up to 6,800 tons of material for CBD extraction.
Canopy Growth (CGC)(TSX:WEED.TO) also traded higher during Monday’s mid-morning session. Earlier this month, Canopy announced the launch of a new brand for the recreational market in Canada, LBS. The Company has established a curated and world-recognized family of brands, both in-house and through partnerships with icons in the cannabis space. LBS is the latest exciting addition to join the family.
The company’s focus, aside from servicing the Canadian market has been on expanding globally. Canopy has distribution agreements in three countries -Germany, the Czech Republic, and Australia – as well as research centers in Brazil and Australia. Canopy is also exporting cannabis to five countries, including the U.S. for clinical trials. In total, the company has operations in 11 countries on five continents.
Cronos Group (CRON)(TSX:CRON.TO) looked for a turn around in its shares on Monday. The company will announce its financial results and hold its Third Quarter 2018 Earnings Conference Call on Tuesday, November 13, 2018 at 8:30 a.m. EDT. Senior management will be available for questions from the investment community after prepared remarks.
In response to the recent legalization efforts in Canada, Cronos CEO Mike Gorenstein, stated, “At Cronos, we take pride in leading the industry forward responsibly and are motivated to create meaningful products that excite our consumers and bring happiness and an improved quality of life. The growth potential in the cannabis industry is vast and extends well beyond the flower. With our differentiated brands, global footprint, growing production capacity and commitment to cannabinoid innovation, Cronos is well positioned to realize this opportunity.”