Gauging the Cannabis Industry at Green Market Summit
“This is the most interesting investment concept today,” TV personality Jim Cramer said about the high-flying cannabis industry as he kicked off the Green Market Summit at New York’s World Trade Center on Sept. 14.
Industry experts shared a vision of legal cannabis as a trillion dollar-plus disruptor of the pharmaceutical, food and beverage industries as more Fortune 500 companies take aim at the sector. Panel topics focused on the economics of cannabis, reaching out to consumers and the potential for marijuana to become more mainstream.
One major theme of the one-day conference that drew about 200 people centered around the growing role of Fortune 500 companies in the space, such as Constellation Brands and Molson Coors.
“Rob Sands is a very smart guy,” Cramer said about Constellation’s CEO, who inked a $4 billion deal with Canopy Growth over the summer to produce non-alcoholic cannabis beverages in Canada. It’s the largest investment yet by any major company in cannabis, but more are expected. Constellation owns Corona, Mondavi and many other alcohol brands.
The hemp/CBD industry is estimated to grow from $5.7