By Victoria Omega @victoriaomg
A growing number of U.S. states and countries around the world have begun legalizing cannabis in one form or another, traditional stock market indices like the NASDAQ have begun to include companies from the marijuana industry. Cannabis stocks are up and stock prices seem to be stabilizing. Some industry insiders believe a ‘third wave’ in the cannabis sector is coming. The third wave will likely see regulatory reforms in the U.S. at the state level and possibly the federal level, more states embracing adult-use cannabis such as Arizona, Florida, New Jersey, New York and Pennsylvania, improvements in large markets like Canada, California and Massachusetts, that have been slow to pick up momentum, and the first cannabis public companies to exceed $1 billion in revenue annually are all expected to happen in the cannabis third wave. Here are three exciting cannabis companies to watch in the cannabis sectors “third wave” in 2020. These companies are hoping to catch the third wave in an industry that is quickly opening up nationwide, and is here to stay.
Aurora Cannabis Inc. (ACB) Aurora Cannabis Inc: produces and distributes medical cannabis products.
The company exceeded revenue expectations in Q3, reduced its operating loss, announced divestitures and guided for positive EBITDA in the September quarter, all of which sent the stock 69% higher last Friday, with U.S. trading exceeding $1 billion and sparking interest across the sector.
BudTrader (LVCA): BudTrader is based in San Diego, California. BudTrader is the Cannabis industry’s largest social media platform with over 2 million registered users and more than 20 million-page views per month with an average time on site of over 18 minutes and they also generate revenue. The Companies database of cannabis users and vendors is one of the largest in the world. The Company’s website is www.BudTrader.com
Grapefruit USA, Inc. (GPFT): Grapefruit's vision is to become a seed to sale, fully vertically integrated ethical and compliant cannabis company. Last week they announced new developments to its patented (Yes, even cannabis companies have patented formulas now) THC/Cannabinoid infused "Patchless Patch™" time release topical cream and last week reported 230% revenue growth quarter over previous quarter.
