Two Candidates For Pot Stocks to Watch
When it comes to finding a marijuana stock to watch, we as investors can’t help but search the whole industry. With this, we are able to then build a group of pot stocks that may have the best chance at seeing potential gains. Before we find a group of cannabis stocks to watch, we have to do the proper research. With the internet at our hands, finding information about any marijuana stock is easier than ever. When looking at this information, we want to remember a few key facts. For one, the debt amount that a company has on its books.
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High debt levels can be a major determinant of where a cannabis stock is able to go in the future. Next, we have to look at profitability. While some major marijuana stocks are still showing losses due to capital intensive past processes, others have already shown profits. Profitability is not the most important factor but we have to consider EBITDA and revenue to make that decision. With that in mind, here are two potentially surprising marijuana stocks to watch.
A Unique Cannabis Grower Pot Stock
The Supreme Cannabis Company Inc. (OTC:SPRWF) may not be a popular marijuana stock, but it does have a lot to offer investors. While other leading pure-play pot stocks like Aurora Cannabis Inc. (NYSE:ACB) and Cronos Group Inc. (NASDAQ:CRON) are focused on growing as much cannabis as they can, SPRWF stock focuses on quality. The company has stated that it is in the production of ultra-premium cannabis. With this, it has been able to develop its own unique market and demand. Although the demand for this cannabis may be less than cheaper forms of the substance, SPRWF stock has grown due to its capitalization of its unique market.
Since mid-March, SPRWF stock has shot up by around 30%. At one point it had gone as high as 85% above its March lows, but it quickly retreated in value. In addition to producing high quality cannabis, the company has also moved into the oils sector. With Canada only legalizing marijuana derivatives this year, the market domestically is largely untapped. Because of this, the company continues to look like it is a marijuana stock to watch moving forward.
A Pharmaceutical Pot Stock Play
Corbus Pharmaceuticals Inc. (NASDAQ:CRBP) is one of the leading NASDAQ listed cannabis pharmaceutical companies. Although it does produce a large number of non-marijuana infused dregs, CRBP has become a pot stock to watch in the past few years. This is due to the trials and pharmaceuticals that it has worked on, both containing cannabis-infused compounds. The flagship product that has been pushing CRBP stock is known as Lenabasum. This drug was created as a cannabinoid-infused pharmaceutical used to treat inflammation.
Although CRBP stock is not as large as other pharmaceutical pot stocks like GW Pharmaceuticals Inc. (NASDAQ:GWPH), it is working to climb the ladder. The company currently has a market cap of around $600 million which is quite substantial. And with that, it has secured a great deal of capital to continue its large research. The company does need to show an increased revenue amount in order to stay competitive, but for now it remains a leading pot stock to watch.
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