These Marijuana Stocks Could be Considered More Stable Than Others
When investors look for stability in the market, marijuana stocks are not usually the first place they start searching. Despite this, there have been a few leading pot stocks to watch that are showing greater stability than many others. This includes both ancillary pot stocks and more pure-play ones as well. Companies like Scotts Miracle-Gro Inc. (NYSE:SMG) and Brinks Co. (NYSE:BCO), are a great place to start, but these two companies cannot fully be considered pot stocks. Rather, there are some companies that deal more in the cannabis industry than others, that are showing greater levels of stability.
Now, this in no way implies that these pot stocks will stay that way. We all know that the cannabis industry is known to be quite volatile. And, this volatility seems to always be hiding somewhere. For now however, these two pot stocks to watch look like they could be interesting choices for some keen investors. As usual, investors should always remember to do all of the research that they can before landing on one given pot stock to buy.
A Gardening Supply Marijuana Stock
GrowGeneration Corp. (NYSE:GRWG) is not truly a marijuana stock, but it does have a large part in the industry. For quite some time, GRWG stock has benefitted from the increase in global cannabis demand. As a provider of gardening supplies aimed directly at cannabis growth, GRWG stock has been able to grow alongside the cannabis industry. Although it is in some ways a pot stock, the company has shown the stability of a much more stable investment.
Over the past six consecutive quarters, GRWG stock has reported sales growth north of 120% each time. This includes some quarters where that number was as high as 199%. For this reason, GRWG stock has continued to grow substantially in the past few years. Currently, GrowGeneration has around 28 stores in the U.S. where it sells its products. But, by the end of next year, the company states that it plans to push that number to as much as 50 stores. These stores span many states around the U.S., which gives GRWG stock a wide range of markets in the nation. For this reason and others, It continues to be viewed as a leading pot stock to watch.
Another Non-Pot Pot Stock to Watch
GW Pharmaceuticals Inc. (NASDAQ:GWPH) is another one of the leading non-pot pot stocks to watch. While other pharmaceutical pot stocks like Corbus Pharmaceuticals Inc. (NASDAQ:CRBP) have shown a great deal of growth, GWPH stock remains at the top of the charts. Its main pharmaceutical, a drug known as Epidiolex, has sold as much as $115 million in the first quarter of this year. Within that number, roughly $105 million was sold to the U.S.
The drug, which treats rare forms of epilepsy, has been a life saver for those who have tried everything else. In addition, the company has received a great deal of approval from many governmental bodies around the world. Right now, GWPH stock is benefitting from the potential of getting its drugs legalized in more areas around the world. The company states that the European market is still largely untapped in this regard. With this, investors should continue to pay attention to GWPH stock.
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