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BlogThe marijuana industry is set for massive growth, with projections estimating the legal marijuana market will be worth $73.6 Billion by 2027. Many entrepreneurs are trying to take advantage of the opportunity by starting marijuana businesses. However, if you want a way to profit from the growing marijuana industry without as much risk, there are […]
The marijuana industry is set for massive growth, with projections estimating the legal marijuana market will be worth $73.6 Billion by 2027. Many entrepreneurs are trying to take advantage of the opportunity by starting marijuana businesses. However, if you want a way to profit from the growing marijuana industry without as much risk, there are some valuable marijuana stocks to watch.
Of course, investing in stocks is always a risk. You need to be careful about how much you invest and research stocks thoroughly before investing. However, if you make the right choices and diversify your portfolio, you could make a significant profit. Right now isn’t the best time to invest due to the impact of COVID-19 on the economy. However, these are some of the best marijuana stocks to watch and buy post-coronavirus.
One of the best marijuana stocks to watch right now is Canopy Growth Corp. Canopy Growth has long been one of the largest and most significant cannabis companies in the world and, although the pandemic may have halted some of its progress, it has strong potential to rebound later in the year.
Canopy Growth Corp. is an Ontario-based cannabis company that now has cannabis stores across various Canadian provinces. It’s the company behind the Tweed Inc. brand of marijuana products and also struck up a partnership with Constellation Brands to eventually make cannabis-based beverages.
The company showed promising results earlier this year before the pandemic hit and, with many store openings soon to come, Canopy Growth could see even further growth when the economy begins to normalize. They now serve tons of customers all over Canada and weed sales will likely stay relatively strong throughout the pandemic and afterward.
Another top marijuana stock that’s well worth researching right now is Cronos Group Inc. The company has plenty of resources and potential to grow after coronavirus dies down, meaning it’s also strong enough to withstand the economic blow right now. This makes for one of the best stocks to buy post-coronavirus.
Cronos Group Inc is a Canada-based cannabis company that now operates globally. They offer both cannabis products and hemp-derived CBD products, allowing them to sell wellness products even in companies where marijuana is still illegal. The company now operates across five continents, giving it the potential to reach a wide-spanning customer base. With a strong marketing strategy, this is a brand that doesn’t look like it’s going anywhere anytime soon.
A key point that makes Cronos Group Inc a particularly attractive stock is that the company reported assets of $1.4 billion in cash and investments, meaning it has the capital to stay afloat. The company will also be able to take advantage of the huge demand for cannabis in Canada post-coronavirus, making it extra promising. This is a marijuana stock that’s well worth including in your portfolio.
Aphria Inc is another popular cannabis stock that you might want to look into right now. Aphria is another Canadian cannabis company that has made huge moves in the legal cannabis industry. Back in January 2020, Aphria Inc reached a market cap of $1.2 billion, making it one of the top cannabis companies globally and one that has the potential to rebound after COVID-19 dies down.
Aphria became a producer of medical cannabis in Canada back in 2014. It soon expanded into the United States and naturally took advantage of the widespread legalization of recreational cannabis use in Canada in 2018. The company now has many strong partnerships, including a deal with Southern Glazer’s Wine & Spirits. Aphria products can even be found at Shoppers Drug Mart- the largest chain of pharmacies in Canada.
Since Aphria has already been serving the Canadian marijuana market for such a long time, it has the potential to survive and even thrive post-coronavirus. As such, this is a stock that you might want to buy once a level of normalcy returns to the world and the stock price is still relatively low.
In terms of market capitalization, Aurora Cannabis is the second-largest cannabis company in the world behind Canopy Growth Corp. As such, it makes sense to look into Aurora Cannabis stocks while they’re low if you’re thinking of investing in marijuana companies after the pandemic.
On the flipside, Aurora Cannabis had some struggles before the virus hit. Many investors were concerned about the company’s overeagerness to spend its capital and burn through its cash. Fortunately, the company has since adapted its approach to saving more money, which will likely lead to lower operating costs and more cost-efficiency in the long run.
Despite some hurdles, Aurora Cannabis still has enough in cash and assets to stay afloat throughout coronavirus and rebound when the demand for cannabis grows afterward. It’s another stock that’s worth considering even if it seems a little risky.
Green Thumb Industries is another interesting cannabis stock that might be worth buying post-coronavirus. In its last quarterly report, the company showed a strong performance and reported a significant increase in revenue.
The company has various brands and now sells cannabis products in many states, including Illinois, Nevada, and New York. As the demand for pot grows in these states, Green Thumb Industries has the potential to grow even further and add value to their stocks.
If you’re looking for a stock that’s less overhyped but still shows a lot of promise, Green Thumb Industries might be the perfect stock to invest in. Keep an eye on it and consider buying after coronavirus.
Investing in the stock market is always a risk, especially during current times when the economy is at an unprecedented low. However, these are some of the top cannabis companies that have the potential and resources to survive and rebound once the world gets back on track. If you want to know more about the cannabis industry or even how to start and promote a cannabis business, check out CannabisPromotions.