The race to corner the CBD market is now heating up. Canadian pot maker Tilray Inc. (NASDAQ:TLRY) recently announced that it would acquire hemp food company Manitoba Harvest for $317 million in cash and stock. With this acquisition, Tilray says it plans to launch CBD-derived products in the US as early as this summer.

VIVO Cannabis Inc(OTCMKTS:VVCIF, CVE:VIVO) is not a name that pops up often around the water coolers. But it should.

A provider of medical marijuana, VIVO Cannabis is an overlooked company that reported record third-quarter results, has an active acquisition strategy, maintains a healthy balance sheet, and shows great long-term growth potential.

Investors who are tired of seeing the same cannabis players hogging the spotlight might want to spark up some interest in Vivo Cannabis Inc.

VIVO Cannabis Inc Overview

Formerly known as ABcann Global Corporation, the company changed its name to VIVO Cannabis Inc in August 2018.

Nobody could have assumed it back when predictions were being made before legalization, but British Columbia isn’t really pulling in much money from the recreational cannabis industry.

Seeing how B.C. was always seen as Canada’s California when it comes to weed quality, the inability to make profits in the cannabis industry has caught many by surprise.

Others, however, have long foreseen this problem and warned of the incoming uphill battle against the black market growers and dealers.

Growers had nowhere to go

The problem with illegal cannabis flooding the streets of British Columbia is not a new one. In fact, it’s been going on for a while now.

The owner of Cannabis & Coffee is suing the Ontario government for $1.1 million in damages he claims he incurred over the Ford government's abrupt decision to cap marijuana retail store licenses.

Cannabis & Coffee Inc. filed a statement of claim against the Alcohol and Gaming Commission of Ontario (AGCO) and the Attorney General’s Office, stating the company had been “structuring its operations and incurring expenses” in preparation for obtaining a retail license so the coffee shop could be turned into a cannabis store.

Pot stocks aren’t the safest investments to make, as they’re often very volatile and their financials aren’t very consistent. However, one way investors can take advantage of the growing industry without investing directly in cannabis companies is by investing in companies that could benefit from pot but that don’t actually grow it themselves.

Thanks to growing acceptance, including Canada’s legalization in 2018, further U.S. state approval, and growing interest from corporate America the global cannabis market could reach $194 billion global market, according to the Bank of Montreal, as noted by Business Insider.

One area seeing a major impact from the boom is the alcohol industry.

People's Alliance Leader Kris Austin says the province should abandon the government-owned system of selling liquor and cannabis for one that gets privately owned stores to do the selling.

Austin's comments on Information Morning Frederictoncome after the CEO of NB Liquor and Cannabis NB Brian Harriman announced last week that he was stepping down.

Austin said the change at the top of the Crown corporation should bring a change in philosophy that would recognize full privatization as being in the province's best interest.

"If you look at other jurisdictions across North America, it's done exceptionally well, including even in our own country in Alberta," said Austin

A Yukon organization is headed to Ulukhaktok, N.W.T., on Tuesday to put on a workshop for young people that includes a full day on safe partying.

BYTE-Empowering Youth's two-day workshop called "MOVE! Youth Ending Violence" offers young people ways to address various issues in their community.

"It's going to very beneficial to our young adults that are in the community, as the community has been having a problem with alcohol for a bit now," said Derek Squirrel, recreation co-ordinator for the hamlet of Ulukhaktok.

"It's going to be nice to bring the youth in to focus on the issues of alcohol, and marijuana, now that it is legal."

A Wall Street bank has officially initiated coverage of cannabis stocks, as high-flying cannabis companies have caught the attention of both the Main Street and Wall Street following a wave of marijuana legalization.

Cannabis stocks had a tumultuous Monday as most pot stocks took a bath in the red.

The North American Marijuana Index, which tracks top cannabis stocks in the US and Canada, was down 0.4% at 288.47.

Duds

There were more duds than buds and Cronos (NASDAQ:CRON) featured high on the list of laggards, shedding 5.9% to $20.63.

The Canadian cannabis company took a hit after Jefferies analyst Owen Bennett kicked off his coverage with an Underperform rating on the stock and a C$17 price target.

CannTrust Holdings (NYSE:CTST) also wasn’t seeing much love on its first day of trading on the New York Stock Exchange, falling 2.3% to $9.66.