What Pot Stock Should I Buy [BETTER]
Marijuana stocks have given cannabis investors nothing but false starts over the past few years. Most recently, there were a plethora of issues facing the industry throughout 2022, including inflation, overproduction, lack of capital, job losses and cratering stock prices.
what pot stock should i buy
The long-term prognosis for the cannabis industry is good. Ultimately, the following nine picks look like the best marijuana stocks (and funds) to benefit from this ongoing growth and maturation.
Scotts Miracle-Gro (SMG (opens in new tab), $82.47) stock has been on a roller-coaster ride for the past four years. At the end of 2018, it traded south of $60, but by April 2021, it had reached an all-time high of $250, a cumulative total return of nearly 320%.
Still, IIPR remains one the best REITs on Wall Street, as well as one of the best marijuana stocks, according to analysts. Piper Sandler analyst Alexander Goldfarb has an Overweight rating (the equivalent of Buy) on IIPR, with a $140 target price, some 55% higher than current levels.
A total of 39 states, as well as Washington, D.C., have legalized medical marijuana. Twenty-one states and D.C. have legalized adult-use cannabis. As more states legalize recreational weed, Curaleaf should be able to continue to grow its business organically and through acquisitions.
Cresco Labs (CRLBF (opens in new tab), $1.78), like Curaleaf, is a multi-state operator (MSO) with operations in 10 states, sporting 56 retail licenses, 21 production facilities and 56 operational dispensaries. Its national brands include Cresco, Reserve, Remedi and Mindy's (edibles). On a wholesale basis, its 350 products and more than 5,000 stock-keeping units (SKUs) are sold in more than 1,000 dispensaries across the U.S.
In March 2022, the company announced that it would acquire U.S. and European cannabis cultivator Columbia Care (CCHWF (opens in new tab)) in an all-stock transaction worth $2.0 billion. Shareholders will receive 0.5579 Cresco shares for every share held in Columbia. The transaction is expected to be completed by the end of the first quarter of 2023.
Cresco is one of Wall Street's favorite marijuana stocks. Of the 19 analysts following the stock, 13 give it a Strong Buy, three say it's a Buy, and three have it at Hold. Plus, the average target price of $6.88 implies the stock will more than triple over the next 12 months or so.
More recently, Tilray acquired Montauk Brewing for $35 million in cash and stock. Idyllically located at the tip of Long Island, Montauk is, according to Tilray's announcement, the fastest-growing craft beer brand and number-one craft brewer in New York City. It distributes its beer to more than 6,400 locations in the U.S.
Not forgetting that this is an article about the best marijuana stocks, British American Tobacco invested an additional $5.1 million last March in Canadian cannabis producer OrganiGram Holdings (OGI (opens in new tab)), bringing its stake in the company to 19.5%. The two continue to collaborate on new cannabis-related products.
By comparison, the MJ ETF follows the performance of the Prime Alternative Harvest Index, which in addition to tracking cannabis stocks, also includes cigarette manufacturers such as Altria (MO (opens in new tab)) and a 20.1% weighting in the ETFMG U.S. Alternative Harvest ETF (MJUS (opens in new tab)). As a result of the ETF weighting, the Canadian content in MJ is slightly less than 42%.
Canadian marijuana stocks rallied Thursday, then gave up those gains on Friday, following a Bloomberg report that U.S. Senate Democrats plan to introduce a federal cannabis decriminalization bill this month. So are Canadian marijuana stocks buys now?
Those legislative efforts would follow a year of soured optimism over the prospect of U.S. cannabis reform. That sentiment has dragged marijuana stocks lower through this year. And even if the U.S. passes full federal legalization, the implications for Canada's pot producers are unclear.
Aurora and its rivals have dealt with layoffs, facility closures and executive-team shakeups over the past few years, following losses, competition and overexpansion. Market share continues to shrink for big Canadian marijuana stocks like Hexo (HEXO), Canopy Growth (CGC) and Tilray (TLRY).
IBD only has full ratings for marijuana stocks in Canada that trade on the big U.S. exchanges. But it also tracks stocks related to the marijuana industry, like Innovative Industrial Properties (IIPR), a U.S. cannabis-focused real-estate investment trust.
MarketSmith also has limited ratings data for some U.S.-based cannabis producers that operate in legal states, like Curaleaf (CURLF), Green Thumb Industries (GTBIF) and Trulieve (TCNNF). Those marijuana stocks trade over the counter and in Canada.
Amid the volatility in marijuana stocks, one way to avoid stock-specific risk is via ETFs. The ETFMG Alternative Harvest (MJ) ETF is one such option. The AdvisorShares Pure Cannabis (YOLO) ETF and the Cambria Cannabis ETF (TOKE) are others.
GrowGeneration Corp is a player in the cannabis industry that is higher by 3.74% Wednesday.GrowGeneration Corp (GRWG) is around the bottom of the Consumer Cyclical sector according to InvestorsObserver.GRWG received an overall rating of 22, which means that it scores higher than 22% of stocks. Additionally, GrowGeneration Corp scored a 28 in the Consumer Cyclical sector, ranking it higher than 28% of stocks in that sector. (adsbygoogle = window.adsbygoogle ).push(); GRWG has an Overall Score of 22. Find out what this means to you and get the rest of the rankings on GRWG!See Full GRWG ReportWhat do These Ratings Mean?Searching for the best stocks to invest in can be difficult. There are thousands of options and it can be confusing on what actually constitutes a great value. *Investors Observer* allows you to choose from eight unique metrics to view the top industries and the best performing stocks in that industry. A score of 22 would rank higher than 22 percent of all stocks.This ranking system incorporates numerous factors used by analysts to compare stocks in greater detail. This allows you to find the best stocks available in the consumer cyclical sector with relative ease.These percentile-ranked scores using both fundamental and technical analysis give investors an easy way to view the attractiveness of specific stocks. Stocks with the highest scores have the best evaluations by analysts working on Wall Street. (adsbygoogle = window.adsbygoogle ).push();What's Happening With GrowGeneration Corp Stock Today?GrowGeneration Corp (GRWG) stock is up 3.74% while the S&P 500 has fallen -0.08% as of 3:06 PM on Wednesday, Feb 15. GRWG has gained $0.18 from the previous closing price of $4.74 on volume of 631,394 shares. Over the past year the S&P 500 has fallen -7.56% while GRWG has fallen -48.21%. GRWG lost -$0.04 per share the over the last 12 months. Click Here to get the full Stock Report for GrowGeneration Corp stock.
The Cuisinart MultiClad Pro Stainless Steel Stockpot is the best stockpot. Its solid construction, even heating, and wide handles make it a standout. If you're seeking a budget-friendly model, our pick is the Cook N Home Stainless Steel Stockpot, which is less than $50.
We recently tested 12-quart stockpots from Made In and T-Fal (models that weren't available at the time of the original testing or didn't make our initial lineup), comparing them to our current favorite 12-quart stockpot from Cuisinart. Both of these new models had their pros and cons, but we didn't feel either was better than the Cuisinart. We included our findings on these models towards the bottom of this page.
First, a new industry or freshly-launched company stock is a speculative investment with a relatively strong risk of loss. Speculative investments may have little or no track record, or may not be well diversified, or may have additional types of risk that make them unsuitable for many investors.
Thousands of professional investment managers around the world then analyze that data to determine what they believe to be a fair price. Thousands of resulting trades set the price of a given stock from moment to moment, as new information comes out over time. This includes information and opinions shouted by people in rolled-up sleeves on cable shows.
So to beat the market, you have to be smarter or luckier than the average of tens of thousands of investors around the world, all working from the same information. Do you think you are smarter or luckier than those thousands of traders, most of whom are professionals who analyze and trade stocks and currency markets all day for a living? If not, proceed carefully.
Treat speculative investments as you would treat any individual company stock: a good rule of thumb is not to put more than about 5% of your portfolio into any single potentially volatile asset, including a speculative flavor-of-the-week. 041b061a72