In one week from today, Canada make a historic move and legalize recreational marijuana on a national level. On October 17, adults aged 18 or 19, depending on the province, will be able to purchase and consume cannabis products for recreational purposes. The momentum that is being seen across the industry is like no other, especially as more “traditional” companies are seeking opportunities within the lucrative sector.
Constellation Brands (STZ) made headlines, not once but twice, as the first S&P 500 company to invest into the marijuana industry with its original stake, and again when it increased investment, into Canopy Growth Corp. (CGC) for marijuana-infused beverages. Even PepsiCo (PEP) stated that the company taking opportunities in the marijuana industry into consideration as other beverage makers like Coca Cola (KO) are rumored to be investigating the market. “I think we’ll look at it critically, but I’m not prepared to share any plans that we may have in the space right now,” PepsiCo’s CFO Hugh Johnston told reporters.
As anticipation of the market continues to build while the marijuana industry’s potential grows, are these marijuana stocks on your watch list this month?