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
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