According to a new report by Grand View Research, Inc., the global legal marijuana market is expected to reach $146.4 billion by end of 2025. Increased adoption of cannabis from medical and recreational perspectives has helped boost interest in the drug. High public and private investment for things like R&D in many countries as well ascreation of new forms of ingesting cannabishave shed more light on the potential of this drug.

Grand View also reports that,"Countries like Canada, the U.S., Germany and Australia are expected to emerge as leading markets in terms of sale, whereas, countries like Israel are focusing on research and technology development and are leveraging on knowledge transfer."

This week the market along with several cannabis stocks are looking to turn a corner and head back toward previous highs.

Integrated Cannabis Company (ICNAF) (ICAN.CN) reported today that the marijuana company has agreed to license Cannabidiol-formulated gummies. Additionally, Integrated Cannabis Company (ICNAF) (ICAN.CN) plans to begin distributing CBD-based gummies through its contract manufacturer, Titration Technologies, in Phoenix, Arizona. Each gummy will contain 10mg of CBD - the non-psychoactive component of cannabis - and will be 100% vegan, utilizing all natural ingredients.

"Gummies are an excellent way to introduce CBD to an older demographic that is typically wary of cannabis products. Our gummies will provide an approachable delivery method, that is easy to consume and with a great taste. We expect the bulk of the sales to take place online but also have plans to distribute through our existing networks to brick and mortar stores in Colorado and throughout the United States. We also plan to expand and introduce a product line of THC formulated gummies upon licensure approval," said John Knapp, CEO of Integrated Cannabis Company (ICNAF) (ICAN.CN).

Canopy Growth CGC, +4.53% (WEED) reversed its price trend early this morning. The company issued to Flight North Inc. & Willmont Capital Ltd. an aggregate of 60,488 common shares of Canopy in connection with the share purchase agreement between Canopy, TS Brandco Holdings Inc. and the Vendors. TS Brandco, an indirect wholly-owned subsidiary of Canopy, purchased 10% of the issued and outstanding Class A common shares of 10006215 Manitoba Ltd. from the Vendors, bringing TSBrandco's total ownership ofManitobaCo to 89.9%.ManitobaCo has been selected by the Government of Manitoba as a prospective licensee under Manitoba cannabis legislation.

In an interview on CNBC, Bruce Linton, CEO of Canopy said that the company is fully engaged in pushing out product to every jurisdiction in the country while also focusing internationally. He believes the sell-off could be due in part by people taking profits and seeing a transition from retail shareholders to institutional shareholders due to the global adoption of legal cannabis.

Aphria (otcqb:APHQF)(APH) recently announced that it has filed to up-list its stock to the New York Stock Exchange. When APHQF begins trading on the NYSE, Canada's four largest marijuana companies will all trade on a major U.S. exchange.

Aphria growth in the first quarter of its 2019 fiscal year came in strong and includes a 35% increase in grams sold in Q1-2018, a 117% increase in revenue YOY and net income increases by more than 40% YOY.

"Aphria started fiscal 2019 by taking significant steps to solidify our position as a premier global cannabis company," said Vic Neufeld, Chief Executive Officer, Aphria. "We advanced the build-out of our expansion in Leamington, signed coast-to-coast supply agreements, launched our strong portfolio of adult-use brands, and created strategic collaborations with leading companies like Perennial that will ensure Aphria continues to lead the consumer experience as the cannabis industry evolves."