Why is California such a hotspot for cannabis investments? Well for starters, “20.2 billion is expected to pour into California’s cannabis market in just the first year as the state goes fully legal,” as stated by Money Morning. Since California legalized medicinal cannabis in 1996, 29 other states have followed suit, with over three million medicinal users accounted for, while recreational use is also legal in nine states, as the District of Columbia has decriminalized cannabis charges with another 13 states following their lead.
In a lot of ways, California has become the “New” New York in the cannabis stocks because if you can make it there, you can make it anywhere! Currently, according to the US Census Board, California has a population of 38.8 million people, while Canada has a population a little over 36 million people. Canada’s land mass is also 25 times the size of California, so that gives you a better sense that California is definitely one of the biggest markets in North America.
California is restructuring its cannabis laws that will bring more clarity to its tax structure and generate more revenues to be implemented this year. Another staggering fact is “California’s medical cannabis industry reported $845 million in retail sales via nearly 2,800 dispensaries over a recent 12-month period,” according to exclusive data obtained by Marijuana Business Daily.”
While California is an impressive hotbed of cannabis stocks, diversity is also “key” and as an alternative, you could look at investing into American companies who are looking to expand into the Canadian cannabis market with a different value proposition. There are a lot of exciting emerging retail market sectors, as you can get in on the ground floor, but remember always do your research thoroughly to see if this is a right fit for your investment portfolio.
One of the next emerging brands coming to Canada will be Green Growth Brands (GGB), headquartered in Columbus, Ohio. They are a lifestyle-oriented, consumer products company that celebrates health, wellness, and happiness. GGB’s focuses on the medicinal and recreational use of cannabis and CBD in the U.S. and Canada, and they have significant experience in the retail industry and their C levels have worked for iconic American brands such as American Eagle Outfitters, Victoria’s Secret, and Designer Shoe Warehouse.
Interested in learning more about Green Growth Brands and its investment opportunity? Download Our Investor Deck at https://www.greengrowthbrands.com/investor-deck.