Since the legalisation of medical cannabis in 2016, Australia has been steadily developing its marijuana industry — and it’s been attracting attention from international players and investors.
Here the Investing News Network takes a look at how the cannabis industry in Australia has been shaping up since legalisation. Read on to see what you need to know about investing in cannabis down under.
Australia’s cannabis space is still in its early stages and hasn’t hit its peak. More cannabis stocks are expected to list on the Australian Securities Exchange (ASX) in the future, which means more investment opportunities.
While Hemp Food Australia manufactures and distributes hemp food and skincare products, Elixinol is a retail provider on the CBD side of things, with dietary supplements and topical cannabis products. Elixinol has focused on building a solid global footprint with operations in the Americas, Europe and Asia.
Overall, the growth of the country’s medical cannabis industry — and the Australian marijuana companies that exist within it — is a growing opportunity. While recreational cannabis remains illegal, moving forward investors should keep an eye out for updates on the Legalising Cannabis Act 2023.
This is an updated version of an article first published by the Investing News Network in 2019.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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