Given that we already covered the best Canadian marijuana stocks you could profit from, we thought we should also tell you why investing in cannabis stocks might be the next best thing you could do.
Way back in 2016, Nanci Pelosi, House Minority Leader, has spoken of the recent growing trend of marijuana legalization, not only in the US and Canada, but all across the world. In the past two decades, more than half states of the USA have voted yes for medicinal marijuana, as well as Mexico and Canada.
The US and its neighbors are not the only ones, as many countries in Europe have been finding their ways of dealing with marijuana prohibition. In fact, 22 European countries have decided to change their marijuana legislation to be more open towards medical cases.
It is easy to say that sooner or later, rather sooner though, cannabis will be legal in most places on the globe, as it has been a hundred years ago before the prohibition. Getting yourself or your kids some marijuana stocks might be worth your time while they are still cheap.
If you are a serious investor, the cannabis market is still a bit insecure and I would not make any huge investments if I was one. However, if you plan on buying a couple stocks for your kids first birthday, you probably won’t make a mistake, and you might make your kids rich people some day.
US marijuana stocks worth looking into
Here are 3 marijuana companies whose stocks are currently going up and are looking pretty good for the upcoming next few months. Buying these stocks won’t make you instantly a rich man by any means, but they might turn way more money than you originally invested in them.
AbbVie Inc. (ABBV)
AbbVie Inc. is a pharmaceutical company that is really potent at the moment. This is due to the fact that AbbVie has a cannabis-based drug on the market right now making them thousands of dollars as we speak. FDA has approved their drug called Marinol which is often used in treating cancer patients for nausea, as well as those suffering from AIDS that have lost their appetites.
The downside of AbbVie Inc. is that the company is focused solely on the US market, which means that if the domestic market fails, this company might not survive – unless they expand overseas.
One stat that is surely going to their favor is the fact that over 5 million of their shares get traded every day.
Scott’s Miracle-Gro (SMG)
Scotts’s Miracle-Gro focuses on developing products for cannabis growers, and also several pesticides for use on marijuana plants. This is a great way to play the market without having to invest in companies that actually grow cannabis and sell it as a business model.
Even though SMG has been in a downward spiral in December 2016, that pulled out from it and have been a little shifty since April of this year. Investopedia advises you to keep an eye on it:
Revenues were down dramatically for the quarter ended April 1, 2017, but the company’s income was up. Both income and revenues dropped for the next quarter as well. This could be one to watch instead of one to buy for now.
Corbus Pharmaceuticals (CRBP)
Corbus Pharmaceuticals have had several drugs go in and out of clinical trials, only to see their stock fluctuate more than a boxer’s weight before a championship fight. Anabasum is a drug which has shown most promises in clinical trials so far and is used to treat sclerosis, and it has finished phase 2 of clinical trials for several types of sclerosis.
Their stocks tend to dip before trial results are announced and then bounce back when the results are positive.
Corbus Pharmaceuticals has negative operating income, and revenues are close to zero. This company is depending on the success of a single drug that could make or break it, which makes it the perfect stocks for your kids – they might get rich, and if not the company will go under much before they grow up anyway.
Marijuana stocks in Canada to watch
Given that Canada is little over 9 months away from complete legalization of recreational cannabis on a federal level, it is only normal to assume that their market was to flourish.
Currently, there are 59 companies that have been issued a license for growing cannabis for medicinal purposes in all of Canada.
Find out what are the best marijuana stocks in Canada to invest in below: