This has been nothing short of a transformational year for the marijuana industry. In October, Canada became the first industrialized country in the world to legalize recreational weed, opening the door to what should be billions of dollars in added annual sales once the industry has had the time to ramp up production.
We also witnessed plenty of milestones hit in the United States. The number of legalized-medical-cannabis states increased to 32, with Vermont and Michigan becoming the respective 9th and 10th states to legalize adult-use weed. The U.S. Food and Drug Administration also approved its very first cannabis-derived drug in June.
Finally, and sticking with the theme of under-the-radar marijuana stocks, MariMed (NASDAQOTH:MRMD) could see a boost. In October, MariMed acquired BSC Group, a competitive licensing, consulting, and operations management company for the cannabis industry that’s based in New Jersey. BSC’s operations aren’t limited to the pot industry, but legalization within New Jersey would certainly allow MariMed to take advantage of consulting and operational management opportunities. Not to mention, MariMed also announced an investment in Sprout in September, which is a marketing software company that can help dispensaries improve sales and customer loyalty.
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