The marijuana industry continues to grow throughout Canada, the United States, and various countries overseas. Attitudes and laws toward the drug are constantly changing for the better and reports estimate that the industry will be worth $73.6 Billion by 2027. As such, it’s worth looking into some of the top marijuana stocks on the NASDAQ.
Investing in marijuana companies is a good idea as many have the potential to grow exponentially as the industry becomes less restrictive. And while many stocks have been hit hard by COVID-19, this makes it a good time to buy low and sell high later. Here are some of the top marijuana stocks on the NASDAQ that you should consider adding to your portfolio.
Village Farms International (NASDAQ: VFF)
One of the top marijuana stocks on the NASDAQ right now is Village Farms International. Interestingly, Village Farms International started as a global producer of greenhouse-grown vegetables. However, in 2017, the company diversified its efforts and began growing cannabis, resulting in a huge surge in its stock at the time and much success since then.
Although the company suffered a decline in stock during Q1 2020, this can largely be attributed to the COVID-19 pandemic. However, the stock has started to bounce back since March, and now is a great time to buy as it’s likely to grow more as things go back to normal.
Village Farms International also has plenty of potential for growth. In 2019, the company vowed to produce 150,000 kg of cannabis a year using 2.2 million square feet of greenhouses dedicated specifically to cannabis growing. What’s more, the company has also been working on an expansion into the hemp industry. With the widespread popularity of CBD products, this looks like a good pick.
GW Pharmaceuticals (NASDAQ: GWPH)
Another marijuana stock that you should be keeping your eye on right now is GW Pharmaceuticals. GW Pharmaceuticals isn’t a cannabis cultivator or retailer, but rather a pharmaceutical company that develops plant-derived medications. Their cannabinoid-based medication, Sativex, has become extremely popular as an alternative to medical marijuana.
There are many good reasons to invest in this UK-based company. Their product, Sativex, is a cannabinoid-infused oral spray that has become a popular treatment for muscle spasticity. Sativex made waves when it became the first legal cannabis-based product in the United Kingdom. Since then, it’s been approved in over 25 countries.
The ability to appeal to global markets where marijuana is still illegal makes GW Pharmaceuticals stock incredibly attractive. GW Pharmaceuticals is now also working on a CBD-based product designed to treat epilepsy. Despite the trials and tribulations of 2020, GW Pharmaceuticals stock has been growing fast the past few months and looks likely to grow even further in the future. This could be a great long-term investment for any marijuana investor.
Amyris Inc. (NASDAQ: AMRS)
Amyris Inc. is another unique investment for marijuana investors. While not inherently a marijuana company, Amyris Inc. is a producer of products in the health and wellness, beauty, and flavor and fragrance sectors. However, the company is now working on CBD-infused products that have the potential for huge success.
The CBD industry is closely related to the marijuana industry as CBD is a non-psychoactive cannabinoid found in cannabis. While CBD doesn’t get you high, it’s become an extremely popular alternative for users who want to benefit from the cannabinoids in marijuana without getting high. Amyris. Inc’s ability to create high-quality CBD topicals is a move that has a huge appeal for consumers.
Despite the effects of COVID-19 on the economy, Amyris. Inc. had a surprisingly strong first quarter in 2020 with revenue growth of 103%. Amyris president and CEO John Melo also stated that COVID-19 would have a limited impact on the company. This looks like a strong stock that could grow substantially over the next few years, so consider it for your portfolio.
Tilray (NASDAQ: TLRY)
Another one of the most interesting marijuana stocks you can invest in right now is Tilray. Tilray is a pharmaceutical and cannabis company based out of Canada that has had major success worldwide. Interestingly, Tilray was the first cannabis company to have an IPO on the NASDAQ and the first medical cannabis producer to become GMP certified in the US.
Tilray focuses on making some of the best cannabinoid-based products for medical purposes. As well as having major success in the United States and Canada, Tilray also has subsidiaries in various places around the world including Australia, New Zealand, Portugal, Germany, and Latin America.
The company produces all kinds of medical cannabis products, including cannabis flower, oil drops, and extracts. It also produces a range of hemp-based CBD products, expanding its customer reach even further. Despite the value of Tilray stock dropping recently, the company reported revenue growth of 126% in the first quarter of 2020. Now is the perfect time to add this valuable stock to your portfolio.
Cronos Group (NASDAQ: CRON)
Cronos Group is a major international cannabis company with an impressive portfolio of brands. Some of its brands include Peace Naturals, COVE, Spinach, and Lord Jones. Its brands cover a wide range of products and services. Not only do they produce medical marijuana and CBD products, but they also have a global wellness platform and produce related products such as vaporizers.
This stock has been one of the hottest marijuana stocks for a very long time. It’s one of the biggest marijuana stocks by market cap and even received a massive $1.8 billion investment from Altria Group- a major international producer of cigarettes and tobacco products. Since then, Cronos Group has had some major success with its stock reaching its peak in 2019.
Much like with many other marijuana companies, 2020 has been rough on Cronos Group and its stock. However, with plenty of funding and resources to stay afloat, Cronos Group shouldn’t be hit too hard and can easily bounce back in the future. If you’re looking for a potentially risky long-term investment, then Cronos Group is a good pick for your portfolio.
Cara Therapeutics Inc. (NASDAQ: CARA)
Marijuana-related biotech company stocks are particularly popular at the moment. Many of these companies have the potential to grow significantly, especially as they can appeal to markets where marijuana is still illegal yet cannabinoid-infused medications have the potential to be approved. Cara Therapeutics is another one of these companies making waves in the cannabis industry.
Cara Therapeutics is a pharmaceutical company that focuses on developing innovative treatments for chronic pain and pruritus- the medical term for severe itching. While their main focus is on the opioid-based CR845, they’ve also been working on a new cannabis-based treatment that could see it become even more successful.
While opioids come with many potential side effects, cannabinoid-based medications are much safer with no fatal risks. Cara Therapeutics is currently working on a cannabinoid-receptor agonist- CR701. While research is still in the early stages, it’s become a popular stock for marijuana investors. It may be risky to invest in Cara Therapeutics while its cannabinoid-based medication is still in the preclinical-stage, but this is still a stock that’s worth considering for marijuana investors.
OrganiGram Holdings (NASDAQ: OGI)
OrganiGram Holdings is a major cannabis company and by far one of the best marijuana stocks you can find on the NASDAQ. OrganiGram produces a range of cannabis strains and products for both medical and recreational users. And, while their stock value has dropped significantly over the past year, there are many reasons why this might be one of the best marijuana stock investments right now.
Many marijuana companies have been hit by the COVID crisis, but there’s still the potential to bounce back as things return to normal. OrganiGram Holdings shows much promise as it focuses on cost-efficiency with some of the lowest cultivation costs in the cannabis industry. OrganiGram currently produces cannabis from a major growth facility and has received many positive reviews on its products.
As well as producing a range of popular cannabis strains, OrganiGram Holdings also develops alternative products such as marijuana-infused edibles, vapes, and powders which all help the company to expand its range. Although the company hasn’t performed particularly well this year, its low stock price right now makes it a very attractive long-term investment.
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA)
Arena Pharmaceuticals, Inc. is another one of the top marijuana stocks on the NASDAQ, especially if you’re interested in investing in a cannabis-related biopharmaceutical company rather than cannabis retailers or growers. Arena Pharmaceuticals operates out of San Diego, California, and produces a wide range of medical products, including an upcoming cannabinoid-based drug.
The company is currently working on APD371 or “Olorinab”, an agonist of cannabinoid receptors with the potential to treat Crohn’s disease. The drug is designed to help patients relieve symptoms such as gastrointestinal pain but does not make them high or produce. So far, the drug has performed well in clinical trials.
While many marijuana stocks have performed poorly throughout 2019, Arena Pharmaceuticals, Inc. stock is at its highest point in years. What’s more, the stock has the opportunity to grow even more, especially with the huge demand for cannabinoid-based treatments even in countries where cannabis is still illegal. This is a stock that you should consider investing in sooner rather than later.
Greenlane Holdings Inc. (NASDAQ: GNLN)
Marijuana growers, retailers, and pharmaceutical companies aren’t the only types of businesses that are important to the industry. Many cannabis users also need devices and accessories such as bongs, vaporizers, rolling papers, pipes, grinders, and more. Greenlane Holdings is one of the top marijuana companies offering these.
Greenlane Holdings has a wide range of brands offering all kinds of cannabis-related products, with some of the most prominent being Marley Naturals, Vibes, and Groove. They also act as distributors for major brands like JUUL, PAX, Raw, Bic, and more. The products they produce and distribute will always be in demand for cannabis users and their strong portfolio makes them a force to be reckoned with.
The company had much success last year, especially with the widespread sales of vaporizers and e-cigarettes including the popular JUUL device. Greenlane originally conducted an IPO on the NASDAQ a little over a year ago and, although the stock has dropped, it’s starting to bounce back, and now could be a good time to invest.
New Age Beverages Corp. (NASDAQ: NBEV)
While not inherently a marijuana stock, New Age Beverages Corp. poses another interesting opportunity for enthusiastic marijuana investors. New Age Beverages is a company that develops a range of health drinks including green tea, kombucha, and many other drinks. However, the company recently became of interest to marijuana investors when it brought out a line of CBD-infused drinks.
CBD is a non-psychoactive cannabinoid that has become a popular alternative to cannabis for many users, especially since it’s legal in states where marijuana isn’t. Many consumers now actively seek out CBD products such as CBD Oils, Edibles, and Drinks, hence why New Age Beverages Corp is an attractive stock for marijuana investors.
The company saw a surge in its stock after announcing its line of CBD drinks and, although the launch has been delayed due to regulatory uncertainties, the stock will likely experience another surge if clearance is given by the FDA. What’s more, New Age Beverages Corp. also has other lines of health drinks to fall back on- especially with the recent health concerns brought about by coronavirus. As such, this is a great stock to add to your portfolio.
If you’re interested in investing in marijuana stocks, these are some of the best stocks to look into right now. Whether you’re interested in growers, retailers, biotech companies, or ancillary businesses, there are many good options. However, keep in mind there are always risks to investing and you should do thorough research before you invest your money.
Investing in marijuana companies right now is a good idea since the industry is set to grow. Marijuana is now more accepted than ever- especially in Canada where you can now buy weed in stores and online. If you’re simply interested in buying marijuana, you can find all of the products you need at WCCannabis.
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