The ‘Green Rush’ is the term being given to the exploding cannabis market, which has been opening the doors for more financial increase for those who are taking part in the industry. Marijuana has been legalized in multiple markets around the world but Canada is the first G7 country to legalize the plant for recreational use. While Germany has a very lucrative medical marijuana industry, it was Canada who took the first step towards full legalization thus opening the financial floodgates in a country where many entrepreneurs are vying to strike it lucky in the industry.
Parallels Between Legalization in the U.S. and Canada
Marijuana has been legalized for recreational use in nine states and Washington D.C. In November this year, the residents of Michigan will be voting on whether they are ready to end prohibition and legalize the plant there too. Oklahoma become the 30th state in the country to legalize the plant for medical purposes. All these states have experienced an increase in employment, financial gain and tax revenue to help the state have more resources available to help the community. It’s not a stretch to presume that the same financial reward will be made possible in Canada too.
Federally Legitimate Investing
While the U.S. based marijuana companies must contend with the fact that they are essentially breaking federal law and therefore must deal with the repercussions such as not having access to banking, Canadian companies have no such issue. With the plant officially legalized and ready for sale this October, the stock market presents an easy and open way to invest in the new and booming marijuana industry.
Top Picks for Canadian Cannabis Stock Investment
According to Forbes, Canopy Growth, which is the largest publicly traded marijuana stock on the market, is expected to experience a boost with the advent of legalization. The legal legitimacy of marijuana is expected to increase its usage with the resulting marijuana sales expected to go up to $4 billion in the first year of legalization. Canopy Growth is working to take full advantage of the sales increase by tripling its grow space, having more stock on hand, and investing in additional retail spaces. All in all, the company is seeking to capitalize on the situation and those willing can join by purchasing stock. Aurora Cannabis and Aphria are also top Canadian companies many have deemed worthy of investment. If the proper time and care is taken, the new industry has the potential to help many investors.
October 17 is currently the date set by Prime Minister Justin Trudeau for official marijuana sales to begin. This is a few months later than initially anticipated but the industry continues to move forward. It is likely to be regulated somewhat like cigarettes with advertising tightly restricted and hidden. The main objective when it comes to legalizing the plant is to take the illegal black market business out of the hands of criminals and into the regulated light of day. As a result of this intention, the ‘Green Rush’ has indeed arrived in Canada.