Despite decades of bad reputation promoted by policies that banned and criminalized its use, cannabis is slowly becoming more legal in different parts of the world, and its makers are generating major revenues on a global level.
Video: On the Cannabis Industry in Lebanon. Will Beirut Become the Amsterdam of the Middle East?In most countries, cannabis or marijuana is largely illegal and is regarded as a harmful drug. Yet, changes that have been taking place in recent years have been introducing a new reality, one where it is either allowed for medical or creational use.
Due to it being included in three international treaties as an addictive drug that could easily be abused, marijuana's use is one of the most debated topics among policymakers in a number of countries. However, legislators in several countries have been pushing for new policies that would allow for wider use of Cannabis' dried leaves, flowers, stems, and seeds, citing scientific findings on its medical benefits.
Weed truck in New York City (Credit: Reddit: /weed: /smellynoely)
Efforts were fruitful in Argentina, Australia, Barbados, Brazil, Canada, Chile, Colombia, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Ecuador, Finland, Germany, Greece, Ireland, Israel, Italy, Jamaica, Lebanon, Lithuania, Luxembourg, Malawi, Malta, the Netherlands, New Zealand, North Macedonia, Norway, Panama, Peru, Poland, Portugal, Rwanda, Saint Vincent and the Grenadines, San Marino, Sri Lanka, Switzerland, Thailand, the United Kingdom, Uruguay, Vanuatu, Zambia, and Zimbabwe, in addition to 37 US States.
Non-medical use of marijuana by adults, also known as recreational use, has been slowly approved in a limited number of countries, such as Canada, Jamaica, the Netherlands, Portugal, Mexico, South Africa, and others.
In some countries where politicians could not legalize recreational weed, they have resorted to decriminalizing it.
These variations in legal status in terms of weed use have all helped marijuana's global makers generate more revenue over the years.
Cannabis Largest Companies by Market Cap
The more relaxed laws in terms of marijuana consumption there is, the more profit made by the drug makers. For the following businesses, not only do they offer the material to be smoked by pot enthusiasts, but also the devices and the tools needed to prepare and smoke it.
1. Curaleaf Holdings
The American cannabis business is focused on "providing patients with quality cannabis for health and wellness" since 2010 and has been on Nasdaq since October 2015. The company has a market cap of $4.38 billion.
2. Green Thumb Industries
The Chicago-based company was founded in 2014 with the mission of "bringing cannabis, responsible consumers, and change-making organizations together to create real, sustained progress against the War on Drugs".
Green Thumb Industries is the world's 2nd largest cannabis company worth $2.58 billion.
3. Trulieve Cannabis
Trulieve Cannabis is one of the oldest companies founded in Florida in 1940 and specialized in offering medical cannabis to patients in need. The company has the third-largest market cap of $2.57 billion.
4. Verano Holdings
The world's largest cannabis company was founded in Chicago in 2014 and introduces itself as a "vertically-integrated operator of licensed cannabis cultivation, manufacturing, and retail facilities dedicated to improving lives". Verano Holdings is worth $2.41 billion.
5. Tilray
The world's fifth-largest cannabis company was founded in 2013 in New York and is worth $1.68 billion. Tilray Inc specializes in cannabis lifestyle and consumer packaged goods company. It was listed on Nasdaq following a merger with the Canada-based Afaria.
6. Canopy Growth Corp
The Canadian licensed producer was listed in Nasdaq in New York Exchange Stock in November 2020 and has since had the biggest stock among its competitors.
Canopy Growth was founded in 2013 and pledges to expand personal health and wellness by creating economic opportunities and working on social justice initiatives. The company is worth $1.47 billion.
7. TerrAscend
TerrAscend is another Canada-based company founded in 2017 and is now worth $1.11 billion. The company has expanded its operation to several US States including Pennsylvania, New Jersey, Michigan, and California.
8. Cronos Group Inc.
Advancing cannabis research, technologies, and products, the Toronto-based company is listed on Nasdaq under the name CORN. The company is worth $1.02 billion.
9. Cresco Labs
The world's ninth-largest company was founded in 2013 in Chicago and is considered a leading name in medical marijuana producers. Cresco Labs is now worth $1.01 billion.
10. WM Technology
Founded in California in 2008 is a tech company focused on providing integrated solutions for both consumers of cannabis and businesses. It is now worth $0.87 billion.
