Pot stocks have had an interesting quarter. Much of the concern has had to do with growth. Many companies have taken a rapid expansion approach but that has come at higher costs. Recent pot stock earnings results have shown the need to streamline operations and increase production to meet rising demand.
In light of this, companies continue to shoot toward their future projections. As a result, one of the leading causes of growth has been partnerships and deals.
These partnerships have brought bigger money flow into the marijuana stock market. Some have stated that within the next 10 years, the market could see around $200 billion in global sales. If the U.S., for example, is able to legalize cannabis federally, some have stated that it could account for a large portion of that figure.
Pot Stocks To Watch After Latest Deal News
Canopy Growth Corp. (CGC Stock Report) is one of the foremost cannabis stocks in the industry. The company is undoubtedly one of the largest in all of the pot stock market. Recently, the company announced that it struck a deal with Greenlane Holdings (GNLN Stock Report) which is one of only a few cannabis companies to be listed on a major U.S. exchange.
The company has access to over 5,000 SKUs as well as more than 11,000 retail stores. While Canopy is working to push out new products, it looks like this partnership could potentially payout in the near future.
We have to, of course, consider the fact that Canopy has quite a list of big deals in the works. A large portion of these is still in the works. This means that only time will tell how this most recent partnership could go.
The company has chosen to make its move into alternative products which seems like it could be the right move. Because of that, they have begun to make products such as accessories, vapes, and cannabis-infused beverages.
The hopes are that the deal will help Canopy Growth to expand its reach in the cannabis industry overall. With so many different products that they are producing, the most important factor is having a place to sell them. Only time will tell how this deal pans out.