Can These Two Pot Stocks Continue to Show Growth Despite Covid-19?
It is difficult to predict any part of marijuana stocks in the future given the unpredictability of the current world we live in. But, with marijuana stocks showing solid momentum in many trading days in the past few months, things do look to be quite good. Of course, there have been good days for pot stocks and there have been bad days. Since mid-March, if we look at the overall trends, things have mostly gone up. On average, leading pot stocks to watch have climbed in that time period anywhere from 40-150%. That number may sound like a lot, but most of that momentum has simply brought these cannabis stocks back to where they should be.
Prior to March, pot stocks and the cannabis industry were beaten down as a whole. This was of course due to the coronavirus. With things now seeming like investors are becoming more comfortable investing in the current world, many leading pot stocks could see some positive momentum. As stated before, it is borderline impossible to predict what will happen next month or even next week. We do know that there are a lot of people waiting for the right marijuana stocks to pop up. But, whether or not these two pot stocks can continue to grow, is up to the next few weeks.
A Popular U.S. Based MSO Marijuana Stock
Green Thumb Industries Inc. (GTBIF Stock Report) is quite a popular marijuana stock in the U.S. since mid-March, GTBIF stock has shot up by over 148%. This number may sound like a lot, but it has simply brought it back to its pre-coronavirus numbers. In its most recent quarter, GTBIF stock showed around $102 million in revenue. This represents an increase of more than 260% over the previous year. Because of this, many investors have continued to pay attention to GTBIF stock.
The company currently has locations in as many as 12 states around the nation. But, it states that it has licenses to open as many as 50 more across the country. If it is able to continue opening locations, it could become one of the largest MSO pot stocks in the industry. But, a lot of this depends on what type of legislation gets put through at the end of this year or next. For now, GTBIF stock is showing a solid amount of momentum despite some short term hiccups.
A Strong Play for the U.S. Cannabis Industry
GW Pharmaceuticals Inc. (GWPH Stock Report) is one of the most popular pot stocks in the industry despite not really being a pot stock at all. The company has its focus based on the medicinal marijuana market, which has shown a great deal of promise. GWPH stock has shown a lot of momentum due to the company’s continued research into new products. Unlike traditional pure-play pot stocks, GWPH stock has remained relatively stable for quite some time. In addition, the company has continued to state that it is getting closer to showing profitability in its balance sheet.
One of the main aspects to watch for GWPH stock is to see what type of approval the company’s medicines receive. If it gains approval for a new drug, it is huge news for the business overall. This seems to be true for all pharmaceutical companies. But, GW Pharma has continued to show potential in not only gaining approval but producing more and more new pharmaceuticals using cannabis. Because of this, GWPH stock continues to be a pot stock to watch.
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