Cannabis Stocks Now Available To Trade In Your Cryptenix Account
As more and more countries around the world legalize retail and pharmaceutical cannabis, investors and traders are seeing increased opportunities in Cannabis stocks as global spending on legal cannabis is expected to top $32 billion in 2020. Compare that to the $9.5 billion in 2017 and the growth is evident.
We’ve added four of the most widely traded Cannabis stocks to our asset list. These stocks are available to trade as CFDs on your existing Cryptenix account. If you don’t have an account yet, our simple registration process will have you trading in no time.
Trading is risky. You may lose your invested capital.
So, what are Cannabis stocks exactly?
Without going into too much background detail, the industry for legal cannabis can be split into three broad categories:
Companies that grow and distribute cannabis.
These companies are heavily involved in the development of various strains of pharmaceutical cannabis.
Companies that deal in the various materials and tools required to grow Cannabis.
Legalization and increased interest in Cannabis stocks
Most of the media attention has been on changes to the legal structure surrounding Cannabis in the U.S. and Canada, with pharmaceutical Cannabis now legal in over 30 states in the U.S. In Canada, recreational use of the plant came into legislation on the 17th of October 2018, under the Federal Cannabis Act. This had a significant effect on the stocks across the sector.
Cannabis Stocks Available At Cryptenix
Increased coverage in the media and growing investor interest have driven significant growth for cannabis stocks over recent years. We’ve added four of the main Cannabis stocks to our CFD assets:
Stock Symbol: GWPH
The global leader in the development of cannabinoid-based medicines. Cannabidiol (approved in the United States as Epidiolex® by the Food and Drug Administration – FDA) is in development as a treatment for certain rare and catastrophic forms of childhood-onset epilepsy that currently lack significant treatment options.
GW Pharmaceuticals was founded in 1998 and is listed on the NASDAQ Global Market. The company has operations in both the US and the UK.
Stock Symbol: ABBV
A pharmaceutical company currently marketing an DFA approved synthetic cannabis-based drug. Marinol alleviates nausea or vomiting for chemotherapy patients. The drug has also been effective with AIDS patients who have lost their appetite. While Marinol is a breakthrough drug, it’s not AbbVie’s flagship product or even their biggest seller.
AbbVie was part of the Abbot group until splitting off into a separate company in 2013. The company employs over 30,000 people around the world.
Stock Symbol: SMG
With a market cap in excess of $4.5 Billion, Scotts Miracle-Gro is a serious entrant into the sector. A pioneer in the field of Hydroponics, SMG brings some serious financial muscle and business know how to the field of medical Cannabis. In April 2018 the company acquired Sunlight Supply in a deal estimated at $450 Million.
Founded in 1868 as a seed company, SMG has annual sales of over $2.8 Billion
Pharmaceutical Cannabis stocks are available as CFDs on the Cryptenix platform. If you don’t have an account yet, our simple registration process will have you trading in no time.