Lorimer Wilson | Nov 08, 2019 09:57
The sale of marijuana-infused beverages became legal in Canada on Oct. 17, and such products will be launched into the market place as early as mid-December. That announcement saw some short-lived positive price action with the eight beverage companies intending to become major players in the marijuana-infused beverage sector but they continue to sink in value, down 18.8% since the end of September. Below is the performance of each of the eight companies in the month of October.
Experts predict that the global cannabis-infused beverage market will jump from its current value of $89 million to $1.4 billion by 2023 and to over $4.4 billion by 2025 and that has resulted in established major alcoholic beverage companies such as Molson Coors Brewing (NYSE:TAP), Anheuser Busch Inbev (BR:ABI) (NYSE:BUD) and Constellation Brands Inc (NYSE:STZ) buying stakes in, or entered into joint ventures with, the likes of Hexo Corp (TSX:HEXO), Tilray Inc (NASDAQ:TLRY) and Canopy Growth Corp (TSX:WEED) but it’s usually innovative, early mover, smaller companies that benefit the most in these market breakouts.
Below are the eight fledgling cannabis companies currently vying to become the next “monster” beverage stock. On average the eight companies I allude to:
Specifically, in October,
The above eight cannabis-infused beverage companies may be hoping to become the next “monster’ stock but they all have a long way to go, however, as the price direction of each company’s stock has been going down, not up, in recent months and October was no exception.
With prices like the above and the introduction of marijuana-infused beverages into the marketplace in six short weeks perhaps now is the time to make a move into one of the above juniors before they begin to take off.
Written By: Lorimer Wilson
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.