TLRY - Billions On The Move: Tracking Market Cap Changes In Top Cannabis Firms After DEA Rescheduling Announcement | Benzinga
Tuesday's announcement that the DEA is moving towards rescheduling cannabis from Schedule I to Schedule III, has already injected billions into the publicly traded market for cannabis companies. But what does this mean in terms of actual numbers for the industry's biggest players?
To quantify the market cap added to the publicly traded market for some of the bigger names in the cannabis industry, we need to calculate the difference between their market capitalizations at their public debut or the earliest available data point and their market capitalizations as of the latest available date.
Before we dive into the size of the cannabis market and and how it grew, it is worth noting the total economic impact generated by regulated marijuana sales in the U.S. is estimated to surpass $112.4 billion in 2024, marking a 12% increase from the previous year. According to the recent MJBiz Factbook, this economic impact will continue to rise, reaching over $200 billion by 2030. The total amount of U.S. adult-use and medical cannabis sales is forecasted to reach $32.1 billion in 2024 and is projected to surge to $58 billion by 2030, The Factbook editor, Andrew Long says that for every dollar spent by consumers at cannabis shops, an additional $2.50 is injected into ...