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Highlights
- Usage of Cannabis is considered illegal for recreational use in Britain.
- Currently, the revenue in medicinal Cannabis stands at US $14.42 million.
Market participants have often considered it one of the sunrise sectors worldwide. While it is legalised in Canada and the US, in the UK, usage of Cannabis is considered illegal for recreational use in Britain. However, the medical use of Cannabis was given legal status in November 2018, provided a registered specialist doctor prescribed it.
Many experts have called for the cannabis sector to thrive in a regulatory environment. Currently, the revenue in medicinal Cannabis stands at US $14.42 million, while therapeutic cannabis accounts for total revenue of US $184.40 million. The total revenue in the cannabis market is expected to grow at 16.08% CAGR, resulting in a market volume of US $366.40 million by 2027.
Experts claim that the legalisation of Cannabis may lead to a more transparent tracking of its supply chain, thereby reducing counterfeiting and criminal activities in the space. In 2020, UK’s regulatory authority, the FCA, allowed UK-based cannabis companies on the stock exchange.
As a sunrise industry, the stock prices in cannabis companies are often considered volatile. Therefore, it’s critical as a market participant it is important to do your respective research before making important investment decisions.
Amid this, Kalkine Media explores some of the LSE-listed Cannabis stocks operating in the UK.
Kanabo Group Plc (LON: KNB)
Kanabo Group Plc is primarily an Israeli firm operating in the UK. The firm develops cannabis-derived products for medical patients in the UK. Under the name NOIDECS, the firm launched a new cannabis-derived pain management formulation in the country in February.
Kanabo Group, on 4 May, was trading at GBX 3.42 and was up by 2.24%. The cannabis stock boasted a market cap of US$ 12.73 million with a P/E ratio of -2.30. The London-based firm has given its shareholders negative returns of 36.94% over the past year.
Cellular Goods Plc (LON:CBX)
The Cellular Goods is a UK-based consumer cannabinoid firm that offers various skincare products comprising face oil, an after-shave moisturiser and a serum.
While Cellular Goods, at one point in time, was one of the top firms, after incurring heavy losses, the firm’s share values have dropped significantly. The CBX share witnessed a slump of over -74.46% and over 12.43% on a YTD basis. On 4 May 2023, the shares witnessed a slump of over -1.92% with a trading price of GBX 0.61 with a market cap of US$3.17 million.
Oxford Cannabinoid Technologies Holdings Plc (LON:OCTP)
The UK-based pharma company Oxford Cannabinoid Technologies Holdings Plc specialises in developing cannabinoid medicines. The OCTP shares on 4 May were witnessing a decline of -2.07% and were trading by GBX 1.32 and held a market cap of £12.97 million. OCTP shares have given its investors positive returns over the past year of 18.42% and 63.14% on a YTD basis.
