Hi, Humanity! It’s that time of year again when the Inc. 5000 list is released!
In 2017, more companies in the cannabis industry have been started than ever before, and many more cannabis-based stocks have been added to the U.S. Marijuana Index.
According to Forbes, “The United States Marijuana Index has jumped from a level of 48.39 a year ago to the current level of 70.83, an increase of 46%. ‘The first quarter of 2017 saw the cannabis stock market settle from the previous fall’s elections, with average daily volatility and volume for the constituents on the North American Marijuana Index decreasing 67% compared to the fourth quarter of 2016,’ said Dan Nicholls, Vice President. ‘Overall, the Canadian Marijuana Index increased 7% and the U.S. Marijuana Index decreased 1% in the first quarter.’”
The U.S. Marijuana Index tracks the leading cannabis stocks operating in the United States. Constituents must have a business strategy focused on the marijuana or hemp industry, and are required to meet their trading criteria. The Index is equal-weighted and rebalanced quarterly.
The Inc 5000 List
In 1982, The Inc. 500 list began, showcasing the 500 fastest growing private companies in the United States. Since then, commerce in the U.S. has exploded, and the list has followed suit, expanding to become the Inc. 5000 list, and still giving special notice to the top 500.
In recent years, cannabis-based companies have begun to be featured, showing the meteoric rise of cannabis and medical marijuana in the U.S. And with countries all over the world legalizing marijuana and studying it in more depth every year, this is only the beginning.
Some of the companies included in the 2017 list include:
- Media and events company Marijuana Business Daily ranks number 528, posting an 843% spike in revenue over the past three years, falling from number 302 from the 2016 list.
- Construction firm Your Green Contractor is number 535 with 839% revenue growth.
- Software provider MJ Freeway is number 1,506 and shows a 270% revenue growth.
- Extraction equipment manufacturer Apeks Supercritical at number 2,248 with 163% revenue growth, also appeared on the 2016 list at number 236.
Last year, on the 2016 list, MJBizDaily highlighted the four companies that were in the top 10%, in the Inc 500, in that year’s list:
- Seattle-based Leafly, which provides listings and reviews of cannabis retailers and strains, ranked number 76, posting a 3,860.7% surge in revenues over the past three years.
- Johnston, Ohio-based Apeks Supercritical, which makes extraction equipment for marijuana companies, ranked number 236 with a 1,662.4% increase in revenues. Apeks also made the list in 2015, at number 24.
- Denver-based Marijuana Business Daily came in at number 302, recording a 1,288.2% spike in revenues over their past three years.
- Tucson, Arizona-based GrowersHouse.com, a hydroponics supply and indoor gardening center with both a physical and online store, ranked number 313, posting a 1,232.9% jump in revenues over the previous three years.
This years’ top 5 are:
- Software company Skillz, based in San Francisco
- Dallas-based Energy company, EnviroSolar Power
- SanFran-based consumer products and services company GameTime
- Club Pilates Franchise, based in LA
- LA-based Halo Top Creamery, a low-calorie ice cream company
As cannabis and cannabis companies continue to grow, they are continuing to become a bigger part of the American economy. Can’t wait to see more next year!