If you have an interest in the marijuana industry and you want to make some profit from its continuous growth, then investing in marijuana stocks is a great way to get involved. Although investing in stocks is always a risk, you stand to make a lot of money provided you do your research, pick the right stocks, and wait patiently for your investments to grow. So what are the leading marijuana stocks right now?
Suffice to say, 2020 has been a tumultuous year for many companies and, as such, many marijuana stocks have had significant drops. With that said, these cannabis companies have still stayed afloat and are now beginning to grow again. With many stocks currently undervalued, it’s a good time to start investing if you want to become a marijuana investor.
There are all kinds of marijuana stocks to consider. While some focus on the growth and retail of cannabis products, you could also consider companies such as the pharmaceutical corps who focused on cannabinoid-based medicines. Some companies even produce other cannabis-based products such as drinks, vapes, or smoking accessories. Here are some of the leading marijuana stocks for summer 2020 to consider.
Village Farms International Inc. (TSE: VFF)
Another top marijuana stock to consider investing in is Village Farms International. Village Farms International is a long-running company that initially focused on producing high-quality greenhouse-grown vegetables. In 2017, the company made a major move to get involved in the growing cannabis industry by focusing a large portion of its operations to growing high-quality cannabis.
Village Farms International now dedicates 2.2 million square feet of greenhouses specifically to growing cannabis, with plans to grow 150,000 kg of cannabis a year. The company is also expanding into the hemp industry, an industry that has become incredibly popular due to the high demand for hemp-based CBD products.
The company recently began shipping its products to Saskatchewan and has also gained approval to begin shipments to Manitoba. What’s more, it’s also launching new cannabis products in major provinces such as Ontario. With its ability to gain a foothold in many Canadian provinces, now is a fantastic time to invest in Village Farms International.
Cronos Group Inc. (TSE: CRON)
Cronos Group is one of the biggest Canadian cannabis stocks and one that’s likely well worth investing in. Cronos Group currently sells marijuana products in many major markets under various brands. Some of its brands include Peace Naturals, Spinach, COVE, and Lord Jones, and these brands cover a variety of cannabis-based products that are in high demand by consumers.
Although the COVID-19 crisis has hit many companies hard this year, Cronos Group has remained relatively successful. In its Q1 earnings for 2020, the company reported 180% year-over-year growth. It also currently has a strong balance sheet, which will allow the company to remain afloat even during the current economic instability.
There are some other good reasons to invest in Cronos Group. For instance, the company previously received a huge $1.8 billion investment from tobacco giant Altria, helping with its production of cannabis vape products. The company is also expanded into international markets such as Israel and remains one of the biggest cannabis companies by revenue and market cap.
Harvest Health & Recreation Inc. (CNSX: HARV)
One of the best marijuana stocks to check out right now is Harvest Health and Recreation. This large Canada cannabis company has operations in the cultivation, production, and retail of various cannabis products. Harvest now has many locations across many major marijuana states.
Recently, Harvest Health made a deal with Hightimes Holding Corp. to sell ten of its California dispensaries for a value of $67.5 million in cash and assets. Although losing its hold on the surging marijuana market in California, this allows Harvest to improve cash flow and focus on other states such as Arizona, Florida, Maryland, and Pennsylvania rather than the competitive California market.
Overall, this could be a good move for the company in the long run. Maintaining a strong presence in these growing marijuana markets and freeing up cash allows the company to streamline its operations for more success. This is a risky stock that has had many ups and downs, but now could be a good time to invest.
Canopy Growth Corp (TSE: WEED)
Canopy Growth Corp is one of the best bets for marijuana investors, especially as its currently the biggest cannabis company in terms of revenue and market cap. Formerly known as Tweed Marijuana Inc., Canopy controls numerous successful cannabis brands including Tweed, Tokyo Smoke, and Doja. It currently sells marijuana in various provinces.
The company also has numerous operations overseas, including partnerships and subsidiaries in Spain, Germany, Jamaica, Chile, Brazil, and Australia. What’s more, its major investment from Constellation Brands means that Canopy has plenty of resources to stay afloat and thrive post-coronavirus.
Although Canopy’s stock has seen many ups and downs over the past couple of years, including a major drop as the COVID crisis struck, now could be a good time to invest. The company switched CEOs at the start of 2020 and, as the economy begins to reopen, Canopy’s stock could grow with some positive changes.
Corbus Pharmaceuticals Holdings Inc (NASDAQ: CRBP)
Corbus Pharmaceuticals is one of the most interesting picks for marijuana investors. Corbus Pharmaceuticals is a company focusing on developing new and innovative treatments for chronic inflammatory and fibrotic diseases. The company is currently working on multiple cannabinoid-based treatments designed to treat inflammation by targeting the endocannabinoid system.
Cannabinoid-based medicines are becoming more and more popular, especially with the success of treatments such as Dronabinol and Epidiolex. If Corbus’ new treatments manage to pass the approval process for sale in the United States, we’re likely to see a massive surge in its stock value.
The company’s stock already looks strong. While many cannabis companies have struggled amid the COVID crisis, Corbus stock hit its highest point since last year at the start of July 2020 and the stock has surged since mid-March. As such, this looks like a great stock to invest in for marijuana investors.
Aphria Inc. (TSE: APHA)
Aphria Inc. is a Canadian company that has produced medical marijuana for the Canadian market ever since 2014. Since then, the company has significantly expanded its operations, began selling recreational cannabis in Canada, and even expanded into the growing legal marijuana market of the United States.
Not only that, but Aphria has also expanded its operations overseas into South Africa and Germany. It’s currently one of the biggest cannabis companies in the world, reporting a market cap of $1.2 billion back in January 2020. It’s also one of the cannabis companies that have the funds and resources to remain strong post-coronavirus.
This is one of the best marijuana stocks to invest in for marijuana investors right now. Aphria has a particularly strong balance sheet and cash flow. After a dip in stock value back in March, Aphria stock value has climbed back up significantly over the past few months and has the potential to grow even more. Plus, with a strong financial performance recently, this looks like a safe bet for now as far as marijuana stocks go.
Constellation Brands, Inc. (NYSE: STZ)
Although it’s not inherently a marijuana stock, Constellation Brands, Inc. is another stock that has caught the interest of many marijuana investors due to its large-scale investment and involvement with major cannabis company Canopy Growth Corp. As a major retailer of many top brands of alcohol, Constellation Brands is worth looking into.
Constellation Brands is a Fortune 500 company as well as the largest importer of beer in the United States. It’s responsible for many major alcohol brands including Corona, Svedka Vodka, and Modelo Especial. It’s a valuable stock for investors as the company already has many successful endeavors in the liquor industry as well as its new foray into the cannabis industry.
Back in 2017, Constellation Brands invested heavily in Canopy Growth to gain 9.9% ownership. Earlier this year, it upped its investment and now has a 38.6% stake in the company. This suggests that Constellation Brands is particularly confident in its plans to produce cannabis-infused beverages. Although this is a highly-priced stock, it’s one that’s particularly strong and looks like a very safe bet.
GW Pharmaceuticals (NASDAQ: GWPH)
While most of the major cannabis stocks come from Canada and the United States, GW Pharmaceuticals is a UK-based pharmaceutical company that develops marijuana-infused treatments for medical symptoms. The company has seen much success from its products and could grow even more.
GW Pharmaceuticals is mainly known for its product Sativex, a cannabinoid-based treatment for multiple sclerosis. In 2010, Sativex was approved as a treatment for MS in the United Kingdom, making it the first cannabis plant derivative to be approved worldwide. Since then, the company also developed Epidiolex, a cannabinoid-based treatment for epilepsy that has been approved in the United States and Europe.
Since launching its popular treatments, GW Pharmaceuticals stock value has grown significantly. In the past seven years, GW stock has shot up by a whopping 1,320%. Plus, its treatments have been hailed and it has shown strong financial reports. Although its stock suffered in March 2020, it has already grown from 72.48 USD to 135.55 USD in the past few months, so get on this stock sooner rather than later.
New Age Beverages Corp. (NASDAQ: NBEV)
New Age Beverages Corp. is one of the more interesting stocks worth considering for marijuana investors. New Age Beverages manufactures a range of health drinks, including products such as kombucha, green tea, coconut water, and more. While not initially a cannabis stock, New Age Beverages became involved in the industry with its plan to produce CBD drinks.
The announcement of its plan to roll-out CBD drinks under its Marley Beverages brand saw its stock surge. However, since then, the plans have been derailed due to regulatory issues surrounding CBD beverages in the United States. With that said, New Age Beverages could be a good long-term play.
This could be an interesting stock to invest in as New Age Beverages Corp. covers a range of brands that all appeal to consumers looking for health drinks during the current health crisis. Plus, once its line of CBD drinks finally takes off, it’ll likely get a healthy jump in its stock value. New Age Beverages Corp. stock is cheap right now and could be a good addition to your investment portfolio.
Green Thumb Industries (OTC: GTBIF)
Another leading marijuana stock that investors should consider is Green Thumb Industries. This Chicago-based company produces a range of both recreational and medical marijuana products under various successful brands. They currently operate various successful chains of dispensaries across numerous states, including RISE, Essence, and FP Wellness.
The company now has 13 manufacturing facilities and 96 licensed retail locations, making it a major player in the US cannabis industry. Green Thumb Industries also reported $102.6 million in revenue for Q1 2020 and is likely to perform strongly once the economy gets back on track.
Overall, this looks like a very strong stock to invest in. Green Thumb Industries has the finances to remain stable as well as an impressive portfolio of brands and dispensaries. What’s more, its profits will likely pick up even more as tourism is reopened to states such as Las Vegas, where it operates many dispensaries.
Conclusion
Although the economic impact of coronavirus has been tumultuous for many cannabis companies, it could also be good news for investors. Many stocks have dropped significantly in price and are just starting to recover. As such, now is a good time to start investing in some of the leading marijuana stocks.
These are some of the best marijuana stocks to invest in for summer 2020. However, before making any kind of investment, it’s important to remember that investing is always a risk and you should do thorough research before deciding where to invest your money. With that said, it’s worth investing in the marijuana industry as it continues to grow, especially with high demand for marijuana products and the ability to buy weed online.
