Medical marijuana investments have caught the attention of the mainstream media and yesterday, Mad Money host Jim Cramer covered the sector along with cryptocurrencies.

Cramer said, “Right now, the speculators are pressing me on three major issues: marijuana, cryptocurrencies and the stock of Micron.”

Cramer has been covering the medical marijuana sector for the last few years. During this time, the Mad Money host has primarily focused on GW Pharmaceuticals (GWPH: Nasdaq), a biotech firm that is focused on developing treatments that are derived from cannabis.

Cramer has recently expanded his coverage within the marijuana sector. In late October, he commented on Constellation Brands’ (STZ: NYSE) $250 million investment in Canopy Growth Corp. (WEED: TSX) (TWMJF: OTC), saying that it makes a huge amount of sense.

Global Marijuana Market to Recover Despite Sessions

Yesterday, Cramer discussed how cannabis stocks traded lower after U.S. Attorney General Jeff Sessions revealed plans to rescind the Cole Memorandum. Cramer noted that while the global marijuana market would recover despite the setback, the domestic market seems to be facing further turmoil.

We agree with Cramer’s view of the global marijuana market and expect Canada to be the greatest beneficiary of the roadblocks facing the United States cannabis industry. Canadian marijuana producers are focused on increasing production capacity and entering new markets (i.e. Germany, Australia, Denmark, Israel, Chile, Brazil, Colombia, Mexico, and the Cayman Islands).

Once marijuana is legalized at the national level in the United States, Canada will already have a firm position in several of the largest markets in the world. We are bullish on this opportunity and expect the international opportunity to come into much great focus this year.

Germany: The Next Big Medical Marijuana Market

We consider Germany to be the most attractive international market due to the size of the market (twice the size of California) and because medical marijuana is covered by insurance. These two factors make the German market a very attractive opportunity and Canadian marijuana producers have been capitalizing on this.

Last week, Canadian licensed medical marijuana producer Aurora Cannabis (ACB.TO) (ACBFF) announced an operational update and reported strong numbers from its German subsidiary, Pedanios. In November, Pedanios established a new monthly record and sold 74,000 grams of medical marijuana. Pedanios is the leading distributor of medical cannabis in the European Union (EU), supplying a network of more than 2,000 pharmacies.

Canopy Growth is also levered to the German medical marijuana market and has significant operations in the EU. In late 2017, the marijuana producer announced that Spectrum Cannabis Denmark was issued a cannabis production license by Denmark’s Medicines Agency. Spectrum Cannabis Denmark is a partnership between Danish Cannabis, one of Europe’s largest hemp producers, and Canopy Growth.

Australia: An Emerging Opportunity

The Australian cannabis market is another emerging opportunity and we became more focused on the market after the country announced plans to become the fourth country to legalize medical marijuana exports.

Aurora Cannabis and Canopy Growth are also levered to this market through strategic investments in leading Australian operators.

In early 2017, Aurora acquired 19.9% of Cann Group Limited (CNGGF: OTC), which was the first Australian company to be licensed for medical marijuana cultivation and production.

In late 2016, Canopy Growth acquired 15% of AusCann Group (ACNNF: OTC), which was granted a medical marijuana manufacturing license, allowing the company to manufacture and supply medical marijuana.

While the Australian medical marijuana market is just getting started, these have proven to be very strategic investments and we are bullish on the companies leverage this burgeoning opportunity.

Canada is Leading the Global Marijuana Market

Over the last two years, the Canadian marijuana industry has become significantly larger and we are favorable on the recent developments. We think that the sector is just getting started and expect to see incremental growth over the next few years.

From Germany to Australia, Denmark to Israel, there are several emerging markets that investors need to be aware of. Canadian cannabis producers are focused on becoming major players in each of these markets and this is an exciting opportunity for the companies as well as the overall sector.

Over the next year, we expect to see significant consolidation within the Canadian cannabis industry and this theme is already started to become more pronounced. Investors need to monitor this opportunity and Canadian cannabis firms that have international exposure include but are not limited to the following: Cronos Group (MJN: TSX Venture) (PRMCF: OTC), Maricann Group (MARI: CSE) (MRRCF), CanniMed Therapeutics (CMED: TSX) (CMMDF: OTC), and MedReleaf (LEAF: TSX) (MEDFF: OTC).