With new jurisdictions coming online on a consistent basis and the increasing expectation of federal legalization knocking on Congress’ gates, the cannabis industry is more mature and established than it has ever been before.
While shares from some big names in cannabis like Canopy Growth (NASDAQ: CGC), Hexo Corp. (NASDAQ: HEXO) or Scotts Miracle-Gro (NYSE: SMG) are lower today than they were one year ago, others have seen significant improvements in their price action.
Among this group of yearly winners are companies that stand out for having multiplied their market caps by factors that can beat the returns of the best tech giants trading on the Nasdaq.
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Coming to New York on October 14 and 15 is the Benzinga Cannabis Capital Conference, a 2-day hybrid gathering of cannabis entrepreneurs and investors that will feature five companies that have yielded year-over-year returns that went from doubling their returns to a nine-fold increase in stock price.
Yearly Winners At The Benzinga Cannabis Capital Conference
Payments infrastructure provider for cannabis businesses Posabit (OTCQB: POSAF) has seen returns of 863% since October 2020 on its OTC shares. The company's platform recently took off, reporting a 232% increase in revenue year-over-year in July of this year.
Stock from multi-state cannabis operator MariMed (OTCQX: MRMD) gave year-over-year returns of 446%. In May, the company reported record quarterly results, with revenue spikes of 230% and year-over-year EBITDA up by 764%, reaching $24.6 million in revenue during that quarter.
West Coast's vertically-integrated cannabis multi-state operator Unrivaled Brands (OTCQX: UNRV) is almost unrivaled amongst companies presenting at the upcoming Benzinga event. The company/s stock saw a year-over-year increase of 294.07%. Last month, Unrivaled
opened a new cultivation facility in Oakland designed to supply for the Korova brand under its portfolio.
Alberta-based cannabis producer Sundial Growers Inc. (NASDAQ: SNDL) delighted its stockholders with yearly returns of 209%. On Thursday, Zach George, CEO of the $1.4 billion market-cap company told Benzinga that support from retail investors is key for the company’s growth.
Cannabis real estate development company Zoned Properties (OTCQB: ZDPY) is next in line among attendants to the Benzinga Cannabis Capital Conference in terms of year-over-year stock prices. Shares from the cannabis REIT spiked 138% since October of 2020. The company recently posted a second-quarter revenue increase of 83%, reaching $550 million compared to $29 million for the second quarter of 2020.
Benzinga CEO Jason Raznick said that the connections that are made at the conference are the most valuable aspect of the event.
“There has been over $250 million raised from companies meeting investors at our events,” Raznick said.
“That’s what I am excited about…companies finding investors, suppliers, customers, partners, accountants, lawyers, underwriters, heads of exchanges at our event. If you’re in the cannabis space, you need to be here, as this event is the ‘room where it happens’,” concluded Raznick.
Lead image by Ilona Szentivanyi. Copyright: Benzinga.
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