While some people are perfectly happy just using marijuana or advocating for the expansion of its legality, others also want to find ways to make a profit off of it. If you are confident in the future of cannabis, then you could make some savvy investments in key marijuana stocks and potentially make a profit, without having to open a business and physically sell cannabis or related products.
Choosing which marijuana stocks to invest in is a tough decision. After all, just because you expect the industry as a whole to grow, this does not mean that every company in the sector will be successful. Instead, let the experts guide you as to which marijuana stocks are worth watching now.
Amyris Inc. (AMRS)
Financial experts recognize Amyris Inc. for the great value of its stocks. This is an industrial biotechnology company providing bioscience solutions in addition to producing and distributing chemical products. Its marijuana-related contribution is its work to develop a platform that will use fermentation to biosynthesize cannabinoids. This would pave the way for cannabinoid purity and lower prices.
Aurora Cannabis (ACB)
Those who are savvy will keep their eyes on Aurora Cannabis, as the company just received approval to sell drops with CBD oil in Ireland. This product was approved as part of the country’s Medical Cannabis Access Program to help treat spasticity from multiple sclerosis, treatment-resistant epilepsy, and vomiting and nausea from chemotherapy. As this is only one of two companies with an approved product as part of the program, this is significant news. Additionally, the Chief Product Officer from Aurora Cannabis expects the company will eventually offer similar treatments for other medical conditions, indicating potential growth.
Canopy Growth (WEED)
This is one of the companies that most cannabis investors like to monitor and for good reason. It did recently experienced some major downturns, along with the rest of the cannabis market, but it may be on the mend. Recently, analysts have said that the stock is more reasonably priced than it was recently, encouraging some to suggest buying it. Of course, this should always be done with caution, and watching it in March, ideally at the beginning of the month, is the perfect start.
Much more recently, Canopy Growth gave us yet another reason to watch, with news on its new facility. It officially received the licenses from Health Canada for secure storage and operation of its cannabis beverage facility in Ontario. This facility is 150,000 square feet and has already started producing cannabis-infused drinks.
Cara Therapeutics Inc. (CARA)
Cara Therapeutics is among the stocks in the cannabis industry with the most momentum, meaning one of the stocks with the highest total return in the previous 12 months. This company focuses on researching, developing, and commercializing pharmaceutical products. These include cannabis-related products in addition to those based on opioids and anesthetics.
Cresco Labs (CRLBF)
This cannabis company had a favorable third quarter, which has led to some analysts suggesting that marijuana investors keep a closer eye on its stocks in the future. The company is showing good organic growth and profitability prospects.
Cronos Group (CRON)
Cronos Group is one of the publicly listed cannabis companies that investors should always keep an eye on. Cronos has seen a growth in sales as well as profit throughout the year. Just keep in mind that Cronos is still held back to some extent by its production since it operates on a much smaller scale than the other cannabis companies.
Harvest Health & Recreation Inc. (HARV.CX)
Harvest Health & Recreation Inc. is a company in the medical marijuana industry. It specializes in cultivating, production facilities, and dispensaries. It is also one of the marijuana companies with the fastest revenue growth in the year to date.
iAnthus Capital Holdings Inc. (IAN.CX)
This is another marijuana-related company recognized for its great value and its status as one of the stocks in the sector with the quickest revenue growth. iAnthus is a cannabis company that operates facilities for cultivation, processing, and dispensing across the United States. The specific reason to watch this company is the shareholder meeting on Dec. 5 that confirms five new board members who were announced on Oct. 17.
Innovative Industrial Properties Inc. (IIPR)
Innovative Industrial Properties Inc. is a leader in cannabis stocks based on momentum. This company leases and owns industrial properties. Its main focus is acquiring, disposing of, constructing, developing, and managing facilities that are leased to companies within the industry of regulated medical marijuana. To provide an idea of its prominence, Innovative Industrial Properties recently signed a long-term lease with Green Thumb Industries on a Pennsylvania property.
Tilray (TLRY)
Tilray is another marijuana company whose stocks you should always watch, so you know what to do with your investments. It experienced the highs and lows recently, and investors should proceed with caution. However, it would be wise to track its movements in search of trends. Even if the time to invest does not arrive this month, it will help you determine the right time to do so.
Valens GroWorks Corp. (VGW.V)
Valens GroWorks is among the marijuana companies with the fastest revenue growth. This Canadian company is in the biotechnology industry, and it specializes in the processing and formulation of cannabis, including analytical testing.
Village Farms International (VFF)
Village Farms International is one of the cannabis stocks with the best value. It is also among the stocks with the most momentum in the sector, meaning it has had exceptional returns in the last year. This company operates and manages greenhouse facilities for agriculture. They mostly grow bell peppers, cucumbers, and tomatoes, but have also dedicated space for cannabis.
Never Invest Blindly
Just because a marijuana stock is on this list, it does not mean that you should rush and make an investment. These are not investment suggestions and should only be treated as recommendations of companies to keep your eyes on. You should still conduct your own research. If your research shows promising results, then you can consider investing.