How Next Months Trading Could Affect These Top Pot Stocks to Watch
With a new month in the cannabis industry comes a new chance at seeing potential gains. We know that marijuana stocks have been quite volatile since the beginning of the year. But, in the past few months that volatility has mostly been positive. A lot of what has happened in that time frame has been due to the Covid pandemic. While many other markets are struggling, pot stocks have managed to come out better than ever. This is because of the increased cannabis demand that we have seen as a direct result of Covid.
With more people at home than ever before, more people are using cannabis to fill their free time. With that, we have seen demand from some of the major marijuana stocks to watch like Cronos Group Inc. (NASDAQ:CRON) and Canopy Growth Corp. (NYSE:CGC), shoot up past expectations. And while we don’t know just how long this demand increase will last, in the short term things continue to look quite good. For now, here are two marijuana stocks that could see some positive momentum in the month of September.
A Pharmaceutical Pot Stock to Watch
Corbus Pharmaceutical Holdings Inc. (OTC:CRBP) is a biotech company that works out of the cannabis industry. With a market cap of roughly $700 million in late August, it is by no means a small company. CRBP stock has benefitted from the company’s production of several new and groundbreaking drugs. It’s most popular pharmaceutical, Lenabasum, is an orally dissolving medicine that can be used to treat inflammatory illnesses. CRBP stock benefits from the company’s research and production of these drugs.
Although pharmaceutical pot stocks are hard to come by, the bulk of them present very interesting business models. The main issue that these cannabis stocks come into is the lengthy approval processes for pharmaceuticals. This is especially true in the U.S., where the FDA can take months or even years to move a drug to the next stage of testing. But, Corbus Pharmaceuticals does look like it is in a solid position to move forward with some of its newest pharmaceuticals. With that, CRBP stock continues to look like an interesting pharmaceutical marijuana stock.
A Canadian Pure Play Pot Stock
HEXO Corp. (NYSE:HEXO) is an interesting marijuana stock with a tumultuous past. Based out of Quebec, HEXO has been working to climb the ladder of the pure play marijuana growers for quite some time. Although HEXO stock ran into a rough streak in 2019, since March of this year, HEXO stock is up by around 96%. This is a solid gain, and one that is reflected in many other leading marijuana stocks.
In the same time, companies like Tilray Inc. (NASDAQ:TLRY) and Aphria Inc. (NYSE:APHA), have similarly shot up by 70 and 90% respectively. What’s different for HEXO stock is that the company had to overcome several challenges last year. After shooting down from $4 in late 2019 to $0.70 as of late August, HEXO stock still has a long way to come. But, with growth comes opportunity for pot stock investors. HEXO Corp. has made a large number of changes to its business model that continue to make the company look more appealing. Of course, investors should always do their individual research before investing. But, HEXO Corp. does show a decent amount of future potential.