Originally reported by-Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.™

Are Cannabis Stocks Gaining Value?

 

Marijuana Stocks have been picking up momentum in the first week of October. For instance, pot stocks to watch like Aphria Inc. (NASDAQ:APHA) gained 14% during the first week of the new month. Although these types of moves are common when trading marijuana stocks, investors should pay attention when they happen. Plays like these mean potential profits for current shareholders. So when searching marijuana stocks to buy always try to get in before they move up which is a key to a good investment strategy.

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How would an investor find the top marijuana stocks for there trading style? Once you know what trading style you’re comfortable with, whether it be long-term, short-term, or swing trading you can then make better investment decisions. As an investor, you should spend some time doing research on these cannabis stock companies. Many leading cannabis stocks can be researched and a look into their financials can produce great results for your portfolio.

What is Affecting Marijuana Stocks?

Like most stocks, marijuana stocks make moves on the news that’s released. For example, Namaste Technologies Inc. (NXTTF Stock Report) shot up 6% on October 6th after it announced it would be releasing a new line of butane hash oil for Canada 2.0. This is due to investors believing the Canadian derivatives market has growth potential for the future. These types of derivative plays can be found in many top marijuana stocks in the industry. With that in mind let’s take a further look at some pot stocks to watch with solid growth potential.

The Top Canadian Marijuana Stock

Canopy Growth Corporation (CGC Stock Report) is Canada’s largest marijuana stock by market cap at over $5 billion. With its hands in all aspects of the medicinal and recreational cannabis markets, the future potential of Canopy is drawing investor’s interest. The company has produced an extensive product line with its own edibles, beverages, dried flower, oil concentrates, vapes, and more. For example, product lines like the brand Tweed have had great success and popularity with cannabis consumers worldwide.

marijuana stocks on robinhood Canopy Growth (CGC)

With the newly legalized Canadian derivatives market Canopy is in a good position. As a leading producer of cannabis-derived products, this legalization will create a broader consumer base. Recently Canopy announced the commencement of an acquisition agreement with Acreage Holdings Inc. (ACRHF Stock Report). Acreage Holdings is an MSO pot stock that will also give Canopy the ability to place some of its products in its dispensaries in Illinois and California for 2021.

Indeed, all these new developments in the company are indicating a promising step up for Canopy’s stock.  Currently trading at $14.80 a share the stock has been going lower since late July. In fact, Canopy’s stock had a high of $24.14  back in January and with its current stock price, an uptick could be coming soon. With the marijuana sector heating up this could be a marijuana stock to add to your portfolio.

Marijuana Stock To Watch: The Pharmaceutical Leader

Another cannabis stock to watch in current market trends is GW Pharmaceuticals plc (NASDAQ:GWPH). Based out of the U.K. GW Pharmaceuticals is one of the leading medical marijuana stocks in the industry. Epidiolex is the name of the cannabis-derived drug at the center of GW’s success.  Currently used as a seizure medicine for rare forms of epilepsy the drug accounts for nearly all of GW’s revenue in 2020. In fact, the company’s revenue of $311.3 million in 2019 was mainly from the sale of Epidiolex.

GWPH stock

The predicted revenue of Epidiolex on course to beat last year’s earnings. This year in Q1 Epidiolex had product sales of $106.1 million in the U.S alone. In addition, the company has begun to launch the drug in Germany and other parts of the U.K. With its current expansion into new markets, GW is working toward a better future as a company.

Nevertheless, GW’s stock spent the month of September on a downtrend in value. With this in mind, the month of October is starting off on the right path for the GWPH stock. Currently trading at $95.87 with a high of $139.54 back in July, this marijuana stock has good growth potential. With GW building an upward path in the market this company may make a good fit for one portfolio.

 

 

The post These Top Marijuana Stocks Are Positioned For Gains appeared first on Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.™.

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