The cannabis story is exploding.

So much so, analysts at Jefferies says the industry could reach $130 billion by 2029.

“This assumes full U.S. federal legalization, full recreational and medical legalization across Europe, full medical and recreational legalization across Lat Am, and cannabis disruption of a number of other industries,” noted the analysts, as quoted by Yahoo Finance. “Industries at risk of disruption are pharma, alcohol, health and wellness, pet care and smoking cessation.”

The analysts join a growing chorus of cannabis bulls.

Cowen for example says U.S. cannabis sales alone could reach $80 billion by 2030 – an increase of $5 billion from earlier estimates, and a 4% compound annual growth rate. Piper Jaffray believes the market for legal cannabis could be worth $15 billion to $50 billion a year, with global sales growing to $250 billion to $500 billion.  

That news is having a sizable impact on several cannabis companies, including MedMen Enterprises Inc. (CSE:MMEN) (OTC:MMNFF), GW Pharmaceuticals (NASDAQ:GWPH), and CannTrust Holdings (NYSE:CTST) (TSX:TRST).

MedMen Enterprises Inc. (MMEN) (MMNFF) for example just reported systemwide sales revenue of $29.9 million, a 39.1% quarter-over-quarter increase. Gross profit margin improved to 53% from 45% in the prior quarter. In addition, the company’s eight retail locations in California reported a combined $23.7 million in revenue, a 28% quarter-over-quarter increase. 

Over the quarter, it also signed a definitive agreement to acquire PharmaCann in an all-stock transaction. The transaction will double MedMen’s geographic footprint to 12 states, which account for over 50% of the U.S. population.

“Our strong second quarter results support MedMen’s commitment to drive strong retail and sales performance, while efficiently scaling the Company and executing on our growth strategy,” said Adam Bierman, MedMen chief executive officer and co-founder. “As we emphasized last quarter, we are in a new phase of growth, one focused on continuing to operationalize our industry-leading retail footprint and increasing our profitability. We are confident in the team we’ve built to drive our success.”

After going public almost one year ago, MedMen has established a track record of growth and success. With approximately 7% market share in California, the largest cannabis market in the U.S., the Company is planning to open 16 new locations across the U.S. in calendar 2019. Of the 16 new locations, 12 will be based in Florida, where MedMen is licensed for up to 30 locations. Additionally, four retail sites in Florida are expected to open in the next 90 days in the following locations: Key West, Orlando, West Palm Beach, and St. Petersburg.

For More Information on MedMen Enterprises Inc., Click Here.

GW Pharmaceuticals (GWPH) was up 14% after a strong launch for its cannabinoid oil Epidiolex in seizure treatment. The drug, which launched in November 2018, generated $4.7 million in sales between November 1 and December 31, 2018.

“More than 500 physicians generated dispensed prescriptions over that two-month time period. In January, the number of filled prescriptions grew by 150% over December,” reported Investor’s Business Daily. “Now, GW Pharma counts about 130 distribution centers for the CBD oil seizure treatment.”

As the only FDA-approved cannabis-based drug, Epidiolex is expected to be a big deal. In fact, analysts at Bank of America say that sales of Epidiolex could reach $74 million this year, and up to $2.2 billion by 2027. In addition, the drug is under review by the European Medicines Agency, with a recommendation from the Committee for Medicinal Products for Human Use expected in the second quarter.

For More Information on GW Pharmaceuticals, Click Here.

CannTrust Holdings (CTST) (TRST) is also seeing a good amount of momentum. The company, which produces and distributes pharmaceutical grade medical cannabis products in Canada just listed on the NYSE, as of February 25, 2019 under the ticker symbol, “CTST.” It will also still list on the Toronto Stock Exchange under “TRST.”

“CannTrust has firmly established itself as one of the top licensed producers in Canada with a global platform rooted in trust, science and innovation," CannTrust CEO Peter Aceto said. "A listing on the NYSE is a natural step forward in our evolution as we look to broaden our investor base, increase the company's exposure and expand our business on an international scale."

For More Information on CannTrust Holdings Inc., Click Here.

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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media which has a partnership with www.MarijuanaStox.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.

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