How Has 2020 Helped to Push These Pot Stocks Upward so Far?
2020 has already been a pivotal year for marijuana stocks. With many of the leading pot stocks to watch posting big losses, in the beginning, we have now seen that sentiment turn around. In the past three to four months, it has been mostly good news for the cannabis industry. Since March, we have witnessed large gains to the tune of 40-160% for many of the most popular marijuana stocks to watch. This, however, is no guarantee of what will occur in the future. Because there are so many unknowns in the world right now, it is hard to predict the next few years in the cannabis industry.
With studies showing that cannabis use is up in the past few months, the hopes are that this momentum will continue. For now, we can only use the current cannabis industry data to try and choose which marijuana stocks to watch. We must also consider the value and future potential when making this decision. Both of these factors are extremely pertinent to stable, long term growth. With that in mind, there are plenty of options in the cannabis industry when creating a list of marijuana stocks. These two pot stocks however have continued to show solid future momentum.
The Leading Alternative Pot Stock to Watch
Innovative Industrial Properties Inc. (IIPR Stock Report) is one of the most talked-about marijuana stocks in the industry. For the year, IIPR stock is already up by around 16% which is quite substantial. The leading REIT pot stock has continued to make waves in the cannabis industry for its commitment to growth and its business model. IIPR has been working day and night to continue acquiring a large range of properties for leasing around the U.S. As of the first of this month, IIPR has stated that it owns as many as 58 properties.
These properties are the backbone of IIPR stock’s growth. These properties also span 15 states around the country which makes IIPR quite a broad-based marijuana stock. One of the things that investors like so much about the company is the fact that it is considered more stable than most. This is due to the fact that IIPR has contracts lasting anywhere from 10-20 years. With that, the IIPR stock report has continued to show stability in its profits and revenue. All of that considered, IIPR remains a leading marijuana stock to watch.
An Alternative Marijuana Stock With Solid Potential
GW Pharmaceuticals Inc. (GWPH Stock Report) is another marijuana stock that has continued to garner attention. Although it is not a traditional pot stock by any means, it does belong in the industry in its own category. As a pharmaceutical company, GWPH stock has benefitted from the large number of new drugs that the company products. During its most recent second quarter, IIPR stock got a boost from some very solid results. For the year, GWPH stock is up as much as 17% which is a very solid amount.
Much of this comes from the epilepsy treatment that it has produced known as Epidiolex. This drug has sold to the tune of as much as $116 million in the first quarter. With that, Epidiolex is largely regarded as being the companies highest-selling substance. Although GWPH depends on legalization and long processes to have its drugs hit the market, it does seem like a solid pot stock to watch. With some solid momentum at this point in the year, investors should continue to keep a close eye on GW Pharmaceuticals.
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