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These Two Cannabis Stocks Are Expanding Footprints in U.S. Market

The Cannabis industry is continuing to get support from governments around the world; the U.S. President announced his support for the cannabis markets a few days ago and the Canadian Prime Minister plans to legalize recreational marijuana this year. Cannabis sales increased 100% since 2014 in the U.S. and analysts are presenting a rosy outlook for the following years. Today we are looking at MJ Holding and General Cannabis Corp as these two companies, in particular, are amongst the big gainers in the industry. 

Sales estimates from research firms are adding to trader sentiments. Cannabis analytics firm, New Frontier Data, expects U.S. cannabis sales to increase at the compound annual rate of around 14.7% in the next seven years to $25 billion. The firm said the $25 billion market should be split equally between medical and recreational cannabis.

Jim Cramer, however, believes that the cryptocurrency-style “bull run” that the cannabis stocks are experiencing could make them faulty investments.

Apart from Cramer’s concerns, traders are looking to capitalize on emerging cannabis markets – leading pot-stocks to post significant gains in the last two weeks.

General Cannabis Corp

General Cannabis Corp (OTCQB:CANN) is among the biggest gainers in Cannabis industry. CANN stock rose 90% in the last two weeks. Its stock has the 52-week trading range of $1.08 to $11.19 – with the market capitalization of $148 million. Its revenue increased 18% in fiscal 2017 compared to previous year, supported by growth in marketing and operations revenue.

The company expects to expand its market share in the emerging US industry by investing in organic and inorganic growth opportunities. It has also strengthened its liquidity position in fiscal 2017 to improve its investment potential. It paid off all of its debt in FY2017 and generated $4.2 million through the exercise of stock options and warrants.

>>These Two Marijuana Stocks are Rising

MJ Holding

The U.S. based MJ Holding (OTCPK:MJNE), which owns and leases real estate to licensed operators in the cannabis industry, generated share price gains of 103% in the last two weeks. MJNE stock currently trades around $3.30 and its stock has the 52-week trading range of $0.55 – $8.50. The micro-cap company is planning to expand its footprints in California and Nevada cannabis markets.   

Featured Image: twitter

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