As the cannabis industry continues to grow in North America, investors are flocking to the sector looking to profit off that growth. And now a new IPO shows just how far the industry has come.
TGOD is a Canadian cannabis producer that's dedicated to growing all-natural marijuana. Their products are laboratory tested to ensure their organic products are high quality. The company owns a 970,000 square foot facility that's capable of producing 116,000 kilograms of cannabis.
Cannabis companies completing IPOs is still relatively new, as the industry has only recently gained legitimacy in the eyes of many investors. The TGOD IPO is notable because it didn't follow the trajectory of other cannabis companies. Last year, MedReLeaf's IPO stumbled out of the gate when share prices for the company dropped on the day of their offering. But TGOD's share prices stayed consistent today, which many view as a positive sign for other cannabis companies planning their own IPOs for later this year.
And with Canada legalizing recreational cannabis later this year, the industry is set for some major growth in the near future, meaning this could be an excellent time for investors to buy in.