- Cann Group is a $163.9 billion cannabis company focused on breeding, cultivating, manufacturing and supplying medicinal cannabis.
- AusCann Group is the smallest cannabis player in this list, with a market capitalisation of $66 million.
Investing in an infant industry is a no-brainer if one is looking for exponential returns. The most significant advantage of new industries is the enormous growth potential which is not there in a matured industry.
Image Source: ID 102772500 © Janifest | Megapixl.com
The cannabis sector is one of the most controversial and most talked-about industries, which is in its nascent stage. Due to very tight government regulations and cannabis stocks are yet to touch their potential as the industry itself is yet to boom.
Let's have a look at few ASX listed cannabis stocks that could potentially turn multi-bagger in
the next few years.
1. Cann Group Limited (ASX:CAN)
Cann Group is a $163.9 billion cannabis company focused on breeding, cultivating, manufacturing and supplying medicinal cannabis. It has executed a number of collaboration agreements that have enabled the company to establish a leading position in plant genetics, breeding, extraction, analysis and production technique.
Image Source: ID 76334670 © Urospoteko | Megapixl.com
Recently it has completed the acquisition of the Satipharm business from Harvest One Cannabis Inc. for the total consideration of CA$4 million. With the revenue guidance of $8-10 million for FY21 full year, the company is on its track to grow multifold in the near future.
2. AusCann Group Holdings Limited (ASX:AC8)
AusCann Group is the smallest cannabis player in this list, with a market capitalisation of $66 million. Recently, it has finalised the sale of the company’s right, title and interest in its 50% owned Chilean joint venture, DayaCann SpA, and the transfer of the company’s loan.
The company has received a total consideration of US$500k in the first instalment. The remaining two receipts are due for the combined amount of US$1 million over the next two years.