According to recent reports, Cannabis which according to several countries is an illegal substance and more so a treatment drug currently is making a step in the cryptocurrencies look lethargic. According to reports, the Share prices by the listed producers previously rocketed and from marketing networks, some cases of this prices listed are improving faster than the bitcoin did the previous year. According to the chief executive of Tilray, Brendan Kennedy, said that his company has made an outstanding $21 million revenue since the beginning of last year and that he believes this company with a son of three to four months will be worth $100 billion. However, He’s half right who is a weed producer said that the producer would get a big deal. However, the only existing odds are the once against Tilray.
The Canadian company however, at Thursday’s closing was worth $16 billion, which according to initial report from the company was around 10 times the public offering valuation which was initially recorded in July. In addition to this Tilray’s shares however, spiked 93% on the intraday trading which took place on Wednesday following approval to supply given by the government. Nevertheless, Cannabis which according to the United States (U. S.) is extract only for medical trials purpose, where this drug still remains as a federally illegal drug yesterday fell sharply. Nevertheless, the Cannabis stocks at the moment are lending themselves to a high speculative trading since the market at the moment is still theoretical. Simply it means that the Cannabis trading is technically illegal everywhere in North America except in the Canadian country where this drug became legal for recreational purposes in October. Nevertheless, even though the drug was legalized in this country, the stocks in the market aren’t freely traded.
However, despite that the drug has been legalized in the country, still this idea on $100 billion weed company currently is not far-fetched. Nevertheless, according to market analysts, the global market for cannabis within 15 years could be hitting $230 billion. This means that the trading of Cannabis would led to an increase in revenue generation within countries which have legalized this drug.