Top 10 Publicly Traded U.S. Cannabis Companies by Market Cap
- $23.9 billion The top 10 publicly traded U.S. cannabis companies are valued at $8.2 billion collectively, (CAD 23.9 billion), as illustrated here last week.
- Scotts Miracle-Gro drives most of the value of the top American companies, the $4.7 billion company already established as a leading lawn-and-garden supplier before investing heavily in cannabis assets, the most recent being Sunlight Supply for $450 million.
- Four of the top 10 are pharmaceutical or biotech companies, reflecting rising investment in R&D of cannabis-derived therapies. A fifth company – G.W. Pharmaceuticals – is British and thus excluded from the U.S. list, but trades on the NASDAQ and is set this summer to receive the first-ever FDA approval of a cannabis-derived drug (pushing its market cap to $4.2 billion).
- With strategic advantages, the leading cannabis companies can expect significant growth as more U.S. states legalize medical and adult-use programs, and the federal government either reschedules or de-schedules cannabis.