Wednesday, December 6, 2023

Why Marijuana Companies Are Rebranding Themselves As Health Care Companies

Investing in marijuana stocks isn’t a simple proposition. Guides can help lead you down the right path and it’s important to know what a cannabis company doe —tech? processing? distribution? — before investing. Even though marijuana has convinced millennials to buy stocks again, companies understand the stigma and volatility surrounding the market currently.

Which perhaps explain why two of the biggest marijuana companies in North America are rebranding themselves to potential investors. According to Barron’s, marijuana executives at Canopy Growth and Aurora Cannabis want investors to consider them alongside other health care stocks, not weed stocks.

RELATED: How Tech Companies Are Losing Executives To Cannabis

Don’t forget that medical marijuana still drives a significant portion of their business, executives said to investors at a major health care conference put on by Jefferies, an investment bank.

“Our pedigree is as a medical cannabis company,” Aurora Chief Corporate Officer Cam Battley told Barron’s. “That opens doors for us on a global basis. When we need to meet with the top regulators or policy makers in country after country, that is incredibly helpful.”

RELATED: Why Haven’t Canadian Pot Stocks Exploded As Expected?

Barron’s noted that marijuana company executive stood out against the crowd of health care businessmen and investors, emphasizing the casual in their business casual dress. But the marijuana guys didn’t back down from the competition, either. They have a place in the health care market, they argued, especially in helping patients where modern medicine cannot with ailments like chronic pain, anxiety, and bowel diseases.

“We see very clearly the largest economic opportunity over the next several years will be in the global medical cannabis sector,” Battley said.


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