The legal cannabis market is increasingly big business. Whilst growth projections vary widely, they only point in one direction: up. The US legal cannabis market is projected by RBC Capital Markets to be worth $47bn in annual sales within a decade.
A host of listed businesses have come to market, concentrated on the Toronto Stock Exchange — since Canada is further down the legalisation path than its southern neighbour. But unsurprisingly, the stocks’ performance closely tracks efforts from US federal lawmakers to relax cannabis policy.
Despite similar moves from some European countries, however, homegrown cannabis businesses remain thin on the ground in Europe. But there is good reason to think this might change.