As the United States legalizes marijuana across multiple states, the cannabis industry has become one of the fastest-growing sectors. 2017 marked a pivotal year for US marijuana stocks, with a surge in investments and public interest. In this article, we'll explore the top US marijuana stocks in 2017, their growth potential, and the impact they had on the market.
The Growing Pot Market
In 2017, the marijuana market was worth an estimated $8.4 billion in the US alone, and that figure is expected to balloon as more states move toward legalization. With a growing number of states allowing medical and recreational marijuana, investors have flocked to US marijuana stocks, seeking a piece of the lucrative pie.
Top US Marijuana Stocks in 2017
Canopy Growth Corporation (CGC)
Canopy Growth Corporation, based in Smiths Falls, Ontario, Canada, was one of the most prominent players in the US marijuana market in 2017. The company, which has a strong presence in the US through its subsidiary, Canopy Growth Corp. USA, made significant headlines for its strategic partnerships and acquisitions. Their market capitalization reached $10.4 billion at its peak in 2017.
Aurora Cannabis Inc. (ACB)
Another leading Canadian marijuana producer, Aurora Cannabis Inc., had a substantial impact on the US marijuana stock market in 2017. With a market capitalization of $10.8 billion, the company aimed to expand its reach in the US through various strategic initiatives and acquisitions.
Tilray Inc. (TLRY)
Tilray Inc. emerged as a formidable force in the US marijuana market in 2017. Based in Nanaimo, British Columbia, Canada, Tilray's market capitalization surged to $3.5 billion as the company expanded its operations in the US. Their commitment to research and development set them apart from competitors.
GW Pharmaceuticals plc (GWPH)
While primarily a pharmaceutical company, GW Pharmaceuticals plc, based in the UK, had a significant presence in the US marijuana market through its CBD product, Epidiolex. The company's market capitalization reached $1.3 billion in 2017, with hopes of gaining FDA approval for their drug.
Growth Potential
The rise of US marijuana stocks in 2017 can be attributed to several factors. Firstly, the growing acceptance of marijuana in the US, with 11 states and Washington, D.C. allowing recreational use. Secondly, the increasing demand for CBD and other cannabis-derived products. Lastly, the federal government's stance on hemp, which made it easier for companies to operate and expand in the US market.
Case Studies
- Canopy Growth Corporation: The company's strategic partnerships with other marijuana companies, such as Molson Coors Brewing Company, provided a unique opportunity to tap into the mainstream beverage market.
- Aurora Cannabis Inc.: Aurora's aggressive expansion through acquisitions and partnerships allowed them to enter key markets, such as California and Massachusetts.
- Tilray Inc.: Tilray's commitment to research and development led to numerous breakthroughs in the medical marijuana industry, positioning them as a leader in the space.
In conclusion, the US marijuana stocks experienced a surge in 2017, driven by the growing acceptance of marijuana and the increasing demand for cannabis-derived products. The top US marijuana stocks, including Canopy Growth Corporation, Aurora Cannabis Inc., Tilray Inc., and GW Pharmaceuticals plc, made significant strides in expanding their operations and capturing market share. As the industry continues to grow, investors are eager to see what the future holds for these companies.