2020 has been a very different year for virtually everyone on the planet. Despite this, the cannabis industry continues to keep trucking. This year, more states became cannabis-friendly, with other states eyeing market expansion. Naturally, this spells good for the cannabis industry; the same is affirmed for cannabis stocks. Here are a few cannabis stocks that everyone should keep an eye on.
This cannabis stock is undoubtedly the most popular cannabis stock of the previous few years. Canopy Growth is a Canadian-based licensed cannabis producer and has the bragging rights of being one of the world’s most extensive most recognizable cannabis stocks. Currently, Canopy Growth is going for around $15 per share. Moreover, Canopy has been up 8% since the beginning of the year.
Although this isn’t necessarily a cannabis stock, it still deserves a spot on this list. However, Scotts Miracle-Gro plays in the cannabis industry. Most consumers know Scotts Miracle-Gro for its extensive line of lawn care and gardening products. Scotts Miracle-Gro is America’s largest provider of the line, as mentioned above of products.
Moreover, Scotts has become quite popular during the COVID-19 pandemic. Due to global quarantining, the second-most popular hobby during lockdown was gardening, only behind baking sourdough bread. This includes cannabis cultivation. When you combine this with the prestige, Scotts Miracle-Gro has spent decades keeping polished with the increased use of their products, and you have a recipe for returns on investments. SMG shares are up 47% at the time of this post. Currently, America’s largest hydroponics care provider is offering stocks at $140 per share.
If you are involved in cannabis stocks, one company worth keeping an eye on is GW Pharmaceuticals. Since its founding more than two decades ago, it has developed and commercialized plant-derived cannabinoid products. Moreover, GW Pharma’s flagship product is Epidiolex. This product uses CBD to treat seizures associated with syndromes that can cause convulsions and similar episodes. GW’s Epidiolex is used to treat patients as young as two years old, meaning their products are not exclusive to adult cannabis consumers. Late last year, GW Pharmaceuticals (GWPH) went for about $90 a share. Today, they are trading around $220.
If Curaleaf Holdings is a perfect cannabis stock for beginners, many market gurus will tell you that ALternative Harvest is a bit more for the well-versed community. Alternative Harvest began operation in Q4 2015. Since its inception, Alternative Harvest has seen nearly half of a billion in net assets. There isn’t another cannabis company currently on the market in the United States that even comes close to Alt. Harvest’s figures. Furthermore, Alternative Harvest is expected to continue to have profitable returns as we begin 2021. Alternative Harvest is currently hovering around $8 a share.
If cannabis consumers are looking for a cannabis company that can hold its own, then Curaleaf Holdings may be the way to go. Curaleaf Holdings got its start in the Garden State in the middle of 2010. The company is notorious for developing one of the first vaporizers to deliver a single measured medicinal cannabis dose. Since those days, Curaleaf Holdings has only seen upside. As of 2021, Curaleaf Holdings operates in 23 states, employs nearly 100 dispensaries, 22 cannabis cultivation positions, and almost 40 post-cultivation processing sites. And Curaleaf is becoming one of the world’s leading cannabis companies by using science to enhance the customer experience. Currently, Curaleaf is hovering around $12 a share. This is the perfect cannabis stock for beginners offering low risk, high reward.