Top Cannabis Stocks One Should Keep an Eye On!

The legalization of cannabis has undoubtedly made the stock market wide open for investment. According to ArcView Market Research and BDS Analytics, global spending on cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 billion in 2017. With this, investors are not only expecting to make a huge windfall profit but also sustaining the same for a longer period. The cannabis stocks are transitioning from the first phase of the bull market to the second phase which implies that the investors need to change their portfolio strategy. With the legal cannabis “green rush” underway, here are some of the top cannabis stocks that one shouldn’t miss:

  • Canopy Growth Corp: It is one of the world’s largest publicly traded cannabis companies. Canopy Growth Corp. through its subsidiaries is the licensed producer of medical cannabis in Canada. It sells medical cannabis under various brand names including Tweed, Bedrocan, and Mettrum. They now have the most progressive share of Canada’s medical cannabis market. The company is engaged with massive production and projects, including the export of cannabis to other countries which have legalized it.

Market cap: $14.731B

  • Aurora Cannabis Inc.:This is a yet another giant in the cannabis sector whose stock reached to 170 % in 2017, which is known as the drastic increase of the year. This company is known as the fastest growing organization in the North America. It is also second biggest producer of the cannabis in Canada. It acquired its rival MedReleaf in a $0.25 billion deal, touted as the largest cannabis deal in the world.

Market cap: $8.822B

  • Cronos Group Inc.: Cronos Group is a Toronto-based cultivator of medical cannabis. In addition to Canada, Cronos also works as an international market to Germany, is building up a facility in Israel and has a license through a joint venture in Australia. While it does not have its presence in the United States due to uncertainty in regulations, this company will prove to be a good investment for many.

Market cap: $2.215B

  • ABBVIE: AbbVie is a research-based pharmaceutical company but with a synthetic cannabis-based drug on the market. The FDA approved Marinol which helps alleviate nausea and vomiting in during chemotherapy, is a drug functioning under AbbVie. It emerged out of the long-established health care corporation Abbott Laboratories. The company’s products brought in total revenues of $28.2 billion in 2017.

Market cap: $139.707B

  • GW Pharmaceuticals: GW Pharmaceuticals is a British biopharmaceutical company known for its multiple sclerosis treatment product nabiximols which were the first natural cannabis plant derivative to gain market approval in any country. This is one of those companies which have achieved milestones for many “firsts” in products. It is listed on NASDAQ as an American Depository Receipt.

Market cap: $4.653B

Apart from following the companies individually to invest, one can also keep an eye on the “Marijuana Index”. By keeping eye on this, one can get the information of leading cannabis stocks in the Canada and US.