9 Major Cannabis Sector Developments Since Last Memorial Day

Today, the United States stock market is closed in honor of memorial day and we want to take this time to discuss how the cannabis industry has advanced since last year.

From North and South America to the European Union (EU), the cannabis industry is becoming a burgeoning global market, and this is a trend that we have been closely following.  Over the next year, we expect the industry to record even more impressive growth and believe the opening of new markets in the US and abroad will serve a major catalyst for growth.

To better explain how the cannabis industry has advanced since last Memorial Day, we have highlighted 9 key developments since then and believe our readers need to be aware of how the industry is evolving:

1. In the 2020 US general election, four states passed legal recreational cannabis legislation and four states passed medical cannabis legislation (South Dakota voted in favor of legal medical and recreational cannabis on the same ballot initiative)
2. France commenced a study on medical cannabis and formed a strategic relationship with Tilray, Inc. (TLRY: TSX) (TLRY: Nasdaq)
3. In Canada, the price of cannabis has been steadily declining, and several leading Canadian Licensed Producers (LPs) expect this trend to continue
4. Demand for cannabis 2.0 products in Canada is constantly increasing and this is a higher-margin aspect of the industry
5. Israel surpassed Germany as the world largest importer of medical cannabis
6. There has been a spike in the number of mergers and acquisitions (M&A) and this is a trend that has been ramping up in 2021
7. GW Pharmaceuticals plc was acquired for $7+ billion by Jazz Pharmaceuticals (JAZZ)
8. Tilray and Aphria completed a mega-merger to improve leverage to the Canadian medical and recreational cannabis market as well as the opportunity in the EU
9. Leading Canadian LPs have been acquiring strategic US assets to be positioned to capitalize on the market once cannabis is legal at the federal level

We have a bullish outlook on the global cannabis industry and believe that the biggest catalyst for the sector will be federal legalization or decriminalization in the US. We continue to believe the global cannabis industry is in the early innings of a major growth cycle and are favorable on how the industry is positioned for growth.

If you are interested in learning more about the cannabis industry, please send an email to support@technical420.com to be added to our distribution list.

For the fastest access to data on the global cannabis industry, you can sign up for our free newsletter!

Share

Tags

Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

Top Stories