We all know cannabis is blowing up and more and more people accepting it as it is .. a medicinal so it should only make sense that people will want to capitalize on it. Just as we are doing so here on the blockchain.
Check this out though the 2019 thesis in the private cannabis sector has been one where the U.S. companies are favored for cheaper valuation, but select under the radar Canadian players are intriguing. CannTrust Holdings (CTST) reconfirmed that investment thesis based on Q1’19 results, though the market remains problematic and the numbers don’t resolve a lot of the sector questions.
What is really astounding is that these numbers are on par with where Aurora Cannabis (ACB) and Canopy Growth (CGC) were in the previous quarter. CannTrust only sold 3,014 kgs of dried cannabis for a decline from the prior quarter where sales were 3,407 kgs. The sales figures confirm the general weakness in the Canadian cannabis market.
So the market is there, the demand is there but the product needs to be fully acceptable for it to really shine. But as a cryptocurrency enthusiast, I also dabble in some stock yes!! I know Wallstreet gross but you have to come into with an open mind. These companies that are producing our weed work with fiat until cryptocurrency can really stretch out its legs then we can truly see a free market.
But what I am getting at is cannabis companies are going public and we are on the brink of an economic boom in cryptocurrency and in cannabis and psychedelic beauties.