CannabisNewsWire Editorial Coverage: Following a tumultuous month, cannabis continues to carve its own path rather than following the lead of other stocks.
- As the stock market plummeted earlier this month, cannabis companies stayed strong, buoyed up by legislative changes in Canada.
- The cannabis market appears set for continuing growth as it expands into expected sales worth billions of dollars across North America.
- While it still faces regulatory challenges in some locations, this market sector is preparing for corporate big players to move in.
Companies with varied interests are moving into the cannabis sector, such as lifestyle business Youngevity International, Inc. (NASDAQ: YGYI) (YGYI Profile). While the stocks of some cannabis players such as Tilray, Inc. (NASDAQ: TLRY) appear overvalued, this reflects problems with valuation tools more than the stocks themselves. The sector has developed its own heavy hitters, such as Canopy Growth Corp. (NYSE: CGC) (TSX: WEED), whose millions of square feet of growing space are now leading to sales into the United States as well as Canada. Some companies are focused only on medical products, such as GW Pharmaceuticals Plc (NASDAQ: GWPH) with its cannabis-based prescription medicines. But it’s the recreational side of the cannabis space that has drawn in Constellation Brands Inc. (NYSE: STZ), a huge beverage maker that has invested…
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