Medical and recreational marijuana is a multi-billion dollar global industry with programs in the works or already up and running in countries like the United States, Canada, Germany, Australia, and the Czech Republic. The shift from prohibition to legalization is a transition that is taking place around the world.
Here’s a list of 4 companies with the biggest buzz in the marijuana industry. Each one encompasses a different facet of the marijuana industry, including product development, cannabis research, distribution, and medical pot delivery.
Lord of the lawn-and-garden and CEO Jim Hagedorn of Scotts Miracle-Gro is looking globally for ways to pursue cannabis research and product development. He plans to invest $500 million in the marijuana industry. Just last year, he put out $135 million to two California businesses that sell soils, fertilizers, and other accessories to pot growers.
Recently, he invested $120 million on hydroponics and lighting equipment company in Amsterdam. All around, Scotts Miracle-Gro shells out some big cash to capitalize on the marijuana industry. Annually, Scotts Miracle-Gro make $160 million in profits. The company also has its eyes on foreign markets like Jamaica and Israel and plans to set up labs for testing in these territories.
Privateer Holdings is a marijuana investment company, which recently closed a round of funding investment totaling $75 million and operates a trifecta of marijuana-related companies like Leafly, Tilray and Marley Natural.
Leafly is an online site for searching medical marijuana dispensaries, while Tilray is a Canadian medical marijuana growing facility. Marley Natural sells Jamaican recreational cannabis strains. Privateer Holdings takes a diversified view of the market.
This British company has been in the game for more than a decade. It develops drugs derived from cannabis that don’t produce that “high” associated with pot. It’s currently testing a new drug called Epidiolex that is intended to treat epilepsy in both adults and children.
Investor interest in GW Pharmaceuticals is ramping up. Its stock is up 68 percent with shares topping $100. Currently, the company is worth about $2.2 billion.
Dubbed the Uber for pot, Eaze is an app that delivers medical pot right to your door. Users can get their delivery in just 15 minutes.
Recently, this company received $10 million funding from a variety of venture capital firms. It’s reported investors included Casa Verde Capital backed by the music icon Snoop Dogg. Currently, Eaze has 100,000 users and operates in 80 California cities. It’s a trend that is sure to expand to other states.