![]() At the same time, one could argue that Cannex has been fairly-valued by the market, and is simply less-attractive, or less-known, than its larger competitors. In my opinion, this is one of the reasons I see substantial upside for investors in Cannex. Looking at Cannex's larger competitors, many have seen dramatic increases in share price and market capitalization, since listing yet Cannex has not. Calling the cannabis stock sector "frothy", is in many ways an understatement. Source: Legal Marijuana Market Worth $146.4 Billion by 2025 | CAGR: 34.6% Competitive LandscapeĬannex has no shortage of competitors, and compared to the biggest players in the space, is still relatively small, with a market cap of $111 million. ![]() Source: Putting the $55 billion US retail cannabis market in perspective The following chart, from Marijuana Business Daily, estimates the total US demand for recreational cannabis, alongside market size figures for other consumer market segments. market, estimated at $8.5 billion, represents 90% of the total global market for cannabis (which grew by 37% in 2017). Source: New Cannabis Ventures Market SizeĪccording to Forbes, the U.S. Public Cannabis Company Revenue Tracker ( USD) Company Name In terms of total sales generated in Washington, NWCS is second only to "Grow Op Farms" (a private company, with $137,953,485).Ĭannex now sits at #24 on the " Public Cannabis Company Revenue Tracker" for US Dollar Reporting firms, an index of all publicly-traded cannabis companies that report their financials in terms of USD. Since Washington State's legalization of recreational cannabis, NWCS has generated $94,092,459 in total sales. Northwest Cannabis Solutions (NWCS), currently Cannex's largest revenue-producing asset, has been Washington State's top producer/processor of cannabis in nearly every month since legalization took place in 2016. The foundation of Cannex's business is its operations in Washington State. On October 19, 2018, Cannex upgraded to OTCQX from OTCQB Venture Market. Cannex raised $36m USD in its pre-RTO financing, as a parent company to several US licensed producers created to provide access to global capital markets.Īs of June 2018, Cannex began trading in US markets under the OTCQB ticker CNXXF. The Company has operations in Washington State and a corporate head office in Vancouver, BC, Canada."Ĭannex was an was one of the first US producers to list publicly via a reverse-takeover ( RTO) merger with a Canadian shell company (formerly Arco Resources).
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