Many publicly traded marijuana companies have been having been running into issues due to pending legislative changes from the U.S. government. With the markets easing emotions at this current time, it seems like pot stocks could potentially see some new highs in the near future. With many of the top cannabis stocks flatlining at lower than average prices, it seems like now may be the time to take a look at the dip in the market.
Dips and corrections in any market usually signal many investors to come in and purchase stocks at low valuations, hoping that the gains will make up for the low prices. With investors looking to reevaluate their marijuana portfolios due to new developments, it seems like the market could potentially be on the up once more.
One of the newer stocks that many investors are looking at is known as iAnthus Capital Holdings Inc. (CNSX:IAN). The company has been on many lists for stocks to look out for during 2018, with many investors happy at the new price of the stock. The analyst Matt Bottomley predicted that the price would reach a target of CAD$3.90 per share. By the end of January, the company had hit an all-time high of upwards of $5.50 per share. The stock than managed to drop by around $2 dollars to the current price, after a few market corrections came into play, dragging down many of the most popular stocks in the market.
In recent times, it seems like the stock could be moving up. With new announcements such as moving into the U.S. market, the hopes are high for iAnthus to make another comeback. Bottomley stated that “We continue to hold the view that 2018 will be a banner year for the company as its crown jewel assets in Massachusetts and New York are expected to make meaningful contributions by the back half of the year. We believe iAnthus is laying a strong foundation to gain a sizable East Coast presence heading into 2018.”
Another stock that many investors have been looking at is Cronos Group Inc. (NASDAQ:CRON). The company has made the headlines several times throughout the year due to them becoming one of the first purely-marijuana stocks to trade on the American exchange. For a brief amount of time, the stock was slightly dependent on the speculation around the stock’s standing, but afterward many investors decided to take their money out due to this speculation. The company has now been working to cement their place in the international cannabis market. They recently partnered up with the company MedMen, one of California’s top retail marijuana companies, to help bring the brand across Canada. This means that the near future of this stock could potentially be extremely lucrative to those who decide to get in. “MedMen stores have been integral to mainstreaming cannabis, and they have become one of the most well-known and respected cannabis platforms in the U.S. We’re very excited to bring the MedMen experience to Canada,” said Cronos CEO Mike Gorenstein. “Cronos is focused on changing the perception of cannabis on an international scale, and we prioritize working with best-in-class partners who share our vision for the future.”
The hopes are high that these new players in the industry will continue to add to the groundbreaking market that is medicinal and recreational cannabis. As new legislation goes into place around the world, the market is beginning to cement itself in the modern day. Only time will tell how well these stocks can fair against a competitive market, but things do appear to be looking up.
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