You’ll most likely read about them in the news today. Marijuana stocks are taking center stage after a whirlwind year in 2018. If one thing’s certain, it’s that this has become a very real industry and it is scaling quickly.
Where most people will think about growing cannabis or selling cannabis, marijuana stocks encompass much more than just the agricultural industry.
Eat Your Heart Out, Uber
Take, for instance, Parcel Pal, Inc. (PTNYF) (PKG). This is a company that has begun to build a model for delivery. We’ve all seen the mass appeal for mobile applications like Uber Eats, Postmates, DoorDash and the like. Parcel Pal is going one step further. Not only are they deliverying everything under the sun from groceries to clothing but they’ve also begun to put deals together with Canadian LPs for cannabis delivery.
Take, for instance, Parcel Pal, Inc. (PTNYF) (PKG). This is a company that has begun to build a model for delivery. We’ve all seen the mass appeal for mobile applications like Uber Eats, Postmates, DoorDash and the like. Parcel Pal is going one step further. Not only are they delivering everything under the sun from groceries to clothing but they’ve also begun to put deals together with Canadian LPs for cannabis delivery.
Don’t get me wrong, there are other companies that deliver cannabis but few, if any are actually doing it on a direct level with licensed producers. For this reason, Parcel Pal could truly become a gamechanges within the industry and a pioneer for the new age of on-demand delivery. According to a recent press release, this delivery should have begun this week starting on April 15th in Saskatoon, Saskatchewan.
ParcelPal to Launch Cannabis Delivery on April 15th
“We are extremely excited to go live with our first partner in the cannabis space, Kiaro.”
Kelly Abbott, President and CEO
Furthermore, the company also has a previously announced deal in place with Choom Holdings (CHOOF) (CHOO). The Company received the agreement from Choom for the establishment of distribution from various retail outlets in Canada. Being that the company recently achieved a major milestone of its 2 millionth delivery, Parcel Pal is far from the new kid on the block.
Global Reach Is Growing Strong
Other companies are also getting into the mix to shake up the cannabis industry with a big focus coming from investment banks. Aurora Cannabis (ACB) and Canopy Growth (CGC) (WEED) both had analyst coverage initiated by Bank of America. The coverage comes with Buy ratings and fresh price targets to add to the excitement.
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Don’t forget that Canopy Growth has been on the hunt for big buyouts of companies in the marijuana arena. The company announced that it will be expanding its European footprint through the purchase of a Spanish licensed cannabis producer, Cafina. Canopy will be adding Cafina’s 1,600 square foot greenhouse to the existing 430k square foot licensed production site in Denmark. It will also include its facility in Germany.
Needless to say, marijuana stocks have taken their lumps. This happened during the period from March 15 to April 15 period but similar to last year, the turnaround may be nearby. The MJ industry saw a similar
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