The marijuana stock market of the past few weeks has been victim to a massive correction that has hit the whole of the market overall. With these healthy market, corrections come with it occasionally a more than stellar time to get involved in the industry due to the lower prices of some of the most popular companies. Marijuana is no exception to that and continues to provide investors with large amounts of value for the future. As always, the best way to invest is to simply hold as it helps to accumulate the most value in the long term. Given that cannabis is here to stay, the future looks to be even brighter than the present.
Next Green Wave (NGW) has been shown to be one of the cannabis stocks with a large amount of potential given their vertical, craft cannabis platform. The company states that they are based out of California, which is subject to be the largest individual marijuana market in the world. This helps to show how much exposure Next Green Wave has to the market. Also of note is the $21 million that the company has been able to raise to begin the purchase of assets that will help complete construction of the varying projects they have in the works. The market that NGW represents is also still niche which means that competition is fierce, but NGW seems to be leading the pack.
Canopy Growth Corp (NYSE:CGC) has been one of the most well-known companies in the world of cannabis since it has reached its new popularity in recent times. The company made headlines several weeks ago after receiving an extremely large $4 billion investment from Constellation Brands (NYSE:STZ). Since that time, they have been able to continue operating toward full capacity with immense growth. The stock has jumped as much as 1,800% in the period of the past three years which is quite a staggering number to consider. Many investors believe that Canopy still has a large amount of room to grow, but often it can be confusing during these fluctuating periods of time. The company saw its early successes coming from its Tweed brand of cannabis products, which helped to illustrate how effective they could be at pushing a product into the market. For this reason, Canopy continues to be one of the strongholds in the marijuana stock market.
Cronos Group (NASDAQ:CRON) is another one of the big names in the industry and one that has been considered to be one of the best-performing marijuana stocks of throughout the history of the industry. The company has been working to begin the export of their product to various markets around the world such as Israel, Australia and beyond through various strategic partnerships. These strategic partnerships have helped the company to secure a bright future for itself in the face of occasional adversity in the market. All in all, The Cronos Group is one of the stocks to watch throughout these speculative periods.
Cannabis as a whole remains highly speculative, but this is characteristic of the new marijuana stock market. The hopes are that this can begin to die down to allow the market to flourish off of the intrinsic values of the companies.
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