Where Could These Pot Stocks To Watch Go In The Next Few Months?
As far as NYSE and NASDAQ traded marijuana stocks go, there are only a handful to choose from. This is due to the time that marijuana stocks have been traded on these exchanges. In the U.S., we have only been able to trade pot stocks on the NYSE and NASDAQ for a few years. This means that there may still be a great deal of opportunity for these marijuana stocks to watch. When thinking of uplisted pot stocks, investors tend to recall only the top two or three by market cap. Companies such as Canopy Growth Corp. (NYSE:CGC) and Aphria Inc. (NYSE:APHA) are the most popular in the cannabis industry.
And while they may win in popularity, there are plenty of other NASDAQ and NYSE listed pot stocks to watch. Within these exchanges, there are also a few cannabis stocks with a low involvement in the pure-play side of the industry. These companies may operate in pharmaceuticals, edibles, packaging and more. But, a lot of the focus tends to be on the companies that physically grow cannabis. With this in mind, here are two uplisted marijuana stocks that you may not have heard of.
A NASDAQ Listed Cannabis Stock to Watch
Sundial Growers Inc. (NASDAQ:SNDL), is a major producer of cannabis-based out of Canada. The company states that it produces marijuana using state of the art facilities that are based on the indoor growing method. In addition to this, SNDL stock has received a lot of approval for the company’s award-winning cannabis strains. Although it does grow indoors, Sundial has as much as 500,000 square feet of growing space. This is more than most other growers and puts SNDL stock above many other pot stocks.
Although there are similar cannabis growers like Tilray Inc. (NASDAQ:TLRY), SNDL stock has a unique position in the market. The company also recently announced that it had completed a registered offering of around 25.8 million Series A Units. This should help to bring in a great deal of capital to help with future expansion products. In terms of gross proceeds, Sundial Growers Inc. should bring in around $20 million. With that, it remains a leading pot stock to watch moving forward.
Another Canadian Cannabis Grower Pot Stock
OrganiGram Holdings Inc. (NASDAQ:OGI), is a similarly positioned cannabis stock to SNDL stock. In late April, OGI stock was on the way to uplist onto the NASDAQ exchange. Soon after, the company received approval to do so with trading beginning in mid May. Since that time, many investors have taken notice of OGI stock. OrganiGram has stated that it also grows cannabis indoors which can be very profitable for some marijuana stocks.
What makes OGI stock unique is that the company has licenses to distribute cannabis across all of Canada’s 10 provinces. This gives it more access to the Canadian cannabis industry than almost any other domestic cannabis grower. In addition, OrganiGram has continued to invest millions into production and efficiency to make itself one of the leading growers of cannabis across the industry. Investors should however be aware that OGI stock is known to be quite volatile. Because of this, risk can often be high for investors. With that, OGI stock continues to present investors with interesting opportunities.
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