It was founded in 1969 by Mel Couvelier, one of the first biochemists to study THC. A career that started at the University of Western Ontario and ended as head of research at Eli Lilly Canada.
Today they are the only supplier of cannabis beverages with announced sales channels in more than 40 countries including Germany, Italy, Mexico, and Brazil.
ACB is a global cannabis company, with an international headquarters in Laval, Quebec, and offices around the world including Toronto and Germany.
Its products include Tinctures, Capsules, and Oils under various brand names such as “AltaVie”, “RIFF”, and “Sola”.
ACB has hundreds of employees, is well-capitalized, and recently completed a bought deal financing round.
With all these factors pointing toward an impending breakout they are also ahead of the curve when it comes to innovation, the company is looking beyond recreational marijuana sales into pharmaceuticals. Their goal is to become one of the best-known brand names in the cannabis industry.
ACB stock price is on a constant rise, as investors seek growth in the cannabis industry as North America moves toward legalizing marijuana for recreational use, but it is still not enough to give them a strong place in the top 10 cannabis stocks.
As of writing, ACB stock is priced at CAD 5.45 on the Toronto Stock Exchange (TSX). Alphabet Inc (NASDAQ: GOOGL) and General Motors Co (NYSE: GM) are some of its main competitors.
Cannabis is the Future:
As more countries legalize marijuana, companies involved in its production are bound to be successful.
According to data compiled by Bloomberg, legal cannabis sales grew 30 percent last year to $9.7 billion and could reach $47 billion by 2027 according to Cowen & Co. reports.
ACB stock is moving in the right direction with its global expansion, acquisitions, and diversification into health care.
It has an edge over its competitors because it already has a strong presence in countries like Germany which are closer to legalizing marijuana for recreational use.
ACB is not only focused on international markets but also Canada where legislation passed this summer allows the federal government to license producers for the domestic market.
As Canada gets closer to legalizing marijuana, companies like ACB will be at an advantage because of their strong presence and financial resources.
One company we expect to benefit from this new law is Canopy Growth Corporation (TSX: WEED) which is already a leading player in the cannabis market, and its stock price has been growing steadily since the news was announced.
ACB is gaining momentum as legislation to legalize marijuana for recreational use could be passed in every province by the end of 2018.
The future is green, and cannabis companies have a bright outlook as countries around the world start legalizing cannabis for medical and recreational use.
ACB stock is the right choice for investors seeking exposure to the fast-growing cannabis industry.