The U.S. marijuana industry has been expanding at a significant rate over the last few years, supported by the legalization of recreational and medical marijuana from several states. Twenty-nine states have already allowed medical use of cannabis, and only nine states are allowing the use of recreational marijuana up to date.
Nevertheless, Trump’s strategy to give full right to states to decide on how they regulate the marijuana industry has increased the prospects of the legalization of recreational marijuana.
“President Trump has assured me that he will support a federalism-based legislative solution to fix this states’ rights issue once and for all,” Colorado Senator Gardner said in a statement.
Kush Bottles Expanding at Robust Pace
The micro-cap Kush Bottles inc (OTCQB:KSHB) has been investing significantly in growth opportunities to take the full advantage of expanding marijuana industry. It is a wholesale distributor of packaging supplies and customized branding solutions for the cannabis industry.
Kush Bottles recently acquired Summit Innovations for 3.2 million in cash and exchange of 1.28M shares of Kush Bottles common stock. The company says the inclusion of Summit Innovations will diversify its business by offering a distinctive product line that is vastly corresponding to Kush Bottles’ existing product inventory.
Kush Bottles posted revenue growth of 249% Y/Y in the last quarter. The company’s cash position also strengthened significantly 688% Y/Y to $7.1 million in the second quarter of fiscal 2018.
Nick Kovacevich, Chairman, and CEO of Kush Bottles commented, “We have made significant headway expanding our offering to encompass a comprehensive portfolio of solutions that power the cannabis industry and position Kush Bottles as a critical link in the cannabis supply chain.”
Medical Marijuana is Increasing its Revenue Base
Medical Marijuana (OTCPK:MJNA) is among the U.S. based cannabis companies that are expanding their footprints by investing substantially in growth opportunities. With the market capitalization of $328 million, Medical Marijuana stock price has the 52-week trading range of $0.06 to $0.19 per share. In the latest quarter, the company generated $7.7 million in revenues – up 255% from the past year period.
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