It’s no secret anymore: California is the mecca of progress in American cannabis. Laws are pioneered there, and full-scale cannabis markets are built from the ground up in California, where the product is proudly consumed by folks from all walks of life and across multiple age demographics.
In other words, California is the largest and most competitive cannabis market in the world – even Canadian provinces can’t compete with the astonishing revenues generated in this unique American state. Of particular interest to me as an investor is the Californian edibles market, which has absolutely been growing by leaps and bounds in the past several years.
It’s really just simple math: the annual legalized cannabis revenues in California outpace those of Colorado and Washington individually and those of Michigan and Oregon combined. And when it comes to cannabis products, edibles have offered the best profit margins since 2015:
Courtesy: PLUS Products Inc. Investor Presentation
For growth-minded investors, staking a claim in the Californian edibles market is an obvious choice – but that leaves the question of how to profit from this. As always, I let the data do the talking: according to BDS Analytics, the leading independent cannabis retail sales analytics company, Plus Products Inc. (CSE: PLUS, OTC: PLPRF) is the undisputed leader in this niche.
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In fact, BDS found that PLUS was the number-one edibles brand in terms of both retail sales and units sold in both Q3 and Q4 of 2018. PLUS has become a fixture in the Canadian edibles market because they’re local and trusted: all PLUS edibles are produced in the company’s dedicated food-safe cannabis manufacturing facility in southern California.
They’re limited to California, either. PLUS proposes to enter new markets both through direct ownership and partnerships, with a focus on speed and market share as PLUS becomes not only California’s best-known cannabis edibles company, but a dominant global brand.
Before you know it, you’ll be seeing PLUS brand edibles all over the map – I mean the world map, not just North America, though they’ll be pervasive there as well. Since the market takeover of California is essentially complete, cannabis-friendly regions in Canada and the U.S. are the next targets, with the combined market sizes entering into the billions of dollars:
Courtesy: PLUS Products Inc. Investor Presentation
But first, it all starts in California, where PLUS already commands 41% of the cannabis edibles market. Moreover, PLUS has the three of the five best-selling cannabis edibles across all categories in the state of California; these include their Uplift THC Gummies, Restore THC/CBD Gummies, and CBD Relief Gummies, all of which are hard to keep on the shelves.
You might not believe this, but the company achieved number-one status as California’s best-selling cannabis edibles brand in the span of just over a year. That’s unheard of, but it’s documented and proven; PLUS has ranked first in this high-growth category since the third quarter of 2018.
Bear in mind that like all other cannabis companies operating in the United States, PLUS is working within federal restrictions on sales of the product. Once full federal-level decriminalization comes to fruition – which is inevitable and is just a matter of time now – the nation will become PLUS’ playground and revenues will come pouring in at an exponential rate.
Even while awaiting that watershed event, PLUS is already breaking into new markets and dominating wherever the company sets foot. Soon we can all look back and remember how this global company started in California – and how PLUS shares quickly and greatly grew.
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