Marijuana stocks are back in the limelight amid Attorney General William Barr’s comments in favor of tightening regulation against the pot industry. Irrespective of the current ups and downs in the marijuana scene, the future of pot stocks is secure, as the demand around the world is bound to grow. Top cannabis analyst of Cowen, Vivien Azer, said in a report that U.S. sales of marijuana will rise to a whopping $80 billion by 2030. In the wake of this enormous growth opportunity, let’s take a look at the best marijuana or pot stocks you should buy in 2019.
Green Organic Dutchman Holdings Ltd (TSE: TGOD)
The Green Organic Dutchman is one of the lesser-known pot stocks in the market. However, the growth opportunities brewing at the company look promising. The Mississauga, Ontario-based marijuana company expects its growth capacity to reach a whopping 65,000 kilograms of cannabis per year. By 2020, the company is eyeing to produce 219,000 kilograms of cannabis per year. This production capacity will bring Green Organic at par with major players in the market. The company is also working on fixing its distribution channels. Recently, it entered into a partnership for Canadian adult-use recreational market with Canada’s largest wine distributor, Philippe Dandurand Wines. Amid a massive surge of demand in marijuana-based products worldwide, Green Organic has started ventures in Denmark and Mexico. It partnered with Epican to target the medical marijuana market in Jamaica. In August 2018, the company acquired 100% of the issued and outstanding shares of privately-held HemPoland for $7.7 million.
Cronos Group Inc (TSE: CRON)
Cronos Group is one of the most famous marijuana stocks in the world. The company came into limelight recently when U.S. tobacco giant Altria announced to acquire a massive, 45% stake in Cronos for $1.8 billion. The company is currently producing 40,000 kilograms of marijuana per year. The production will get a boost to 117,000 kilograms with its Cronos GrowCo joint venture and partnership with NatuEra. Last year, Cronos reached a key partnership with Boston-based Ginkgo Bioworks to produce cultured high-purity cannabinoids from engineered strains of yeast. However, Cornos’ Q4 results were not impressive, as the company continues to invest heavily in technology, innovation, and international markets. Therefore, Cronos is a long-term play, useful for investors who are ready to wait.
Canopy Growth Corp (TSE: WEED)
Canopy Growth is another great pot stock to buy in 2019. The Canada-based company in late March announced its acquisition of a minority stake in a cannabis venture founded by actor Seth Rogen and his long-time friend, director, and producer Evan Goldberg. Constellation Brands CEO Bill Newlands recently said that Canopy could produce $1 billion in revenue by the end of the fiscal year. It’s important to note that Constellation has a 38% stake in the company. Canopy Growth is the most significant publicly traded pot stock in the world, with a market cap close to $15 billion. The company has 500,000 kilos of annual production.
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The author does not have an investment in stock discussed in this article.