Marijuana or Cannabis is getting popularity around the world, mainly because of its proven health benefits. Marijuana is reportedly one of the best treatments for chronic pains, arthritis, ADHD, Autism, nausea and several other major medical problems. Canada has legalized marijuana. Several countries in Europe are on the path of legalizing pot for medical and recreational use. According to an estimate, global marijuana market value will surpass $50 billion by 2026. Here are the best marijuana stocks to buy right now if you want to get rich on the back of the magical green leaf boom.
GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH)
GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) is a UK based cannabis company whose stock has high chances to soar in the coming quarter. The company is set to submit an application for a regulatory approval in the US for its cannabidiol Epidiolex which is used for the treatment of Dravet syndrome and Lennox-Gastaut syndrome. The company also plans to seek an approval for the same drug in Europe by the end of this year. The biggest concern regarding Epidiolex is high chances of drug-drug interactions, which surfaced back in 2016. But GW’s CEO Justin Gover recently shot down all of these concerns and answered all of the investors’ questions at Morgan Stanley healthcare conference earlier this month.
Aurora Cannabis (TSE:ACB)
Aurora Cannabis Inc is one of the hottest pot stocks of 2017. In June, Aurora announced that it had 16,000 registered patients. The company recently launched edible Cannabis oil products, which will give it a sales boost and help improve margins. Aurora is also establishing itself in Europe. Pedanios GmbH, an Aurora subsidiary, recently passed its first step to become a registered medical-cannabis maker Germany. On September 26, Aurora posted fourth quarter revenue of $5.94 million. The company is also building a greenhouse in Calgary. Aurora has about 20% stake in Australia’s biggest cannabis company.
Insys Therapeutics Inc (NASDAQ:INSY)
Insys is a well known pharmaceutical company which is working on several marijuana-based drugs. The stock is currently under pressure amid legal headwinds in the US. The company was recently sued by Arizona state attorney over marketing of an opioid spray, Subsys. Insys recently launched Syndros, which is used to cure chemotherapy nausea and excessive weight loss in AIDS patients. We believe the stock should be bought on the current weakness.
Don’t Miss: Should You Buy Insys Therapeutics
Canopy Growth Corp (TSE:WEED)
Canopy Growth is the market leader of the lucrative marijuana market of Canada. After launching several medicinal marijuana products, the company is set to take a big chunk of the recreational opioids, which will be legal to use in Canada in 2018. Earlier this month, Canopy announced a deal with the province of New Brunswick, Canada, after which it will be the primary cannabis supplier in the province.