The CBD Cannabis Industry Leaders
The CBD Industry leaders have had a tough time during the pandemic shutdowns. With loss of revenue and analyst reevaluating predictions the struggle is evident. Marijuana stock to watch like Planet 13 Holdings Inc. (OTCQX:PLNHF) are a unique play. Headquartered in Las Vegas, Nevada Planet 13 has managed to see its stock price go up year to date. But other marijuana stocks like Canopy Growth Corporation (NYSE:CGC) are still struggling to get back to its pre-COVID stock prices. Although marijuana stocks have become more stable in the last few months some have yet to recover. Many of these beaten-down pot stocks are presenting good entry points.
Becoming familiar with the market and doing your due diligence on a company is a necessity. When evaluating a marijuana stock to buy understanding its price fluctuations in the market can help investors create a solid portfolio. Although the CBD Industry is still recovering there may be an opportunity to bet on the future of the industry. With people finding more uses for CBD oil, the industry as a whole stands a good chance of making gains in the near future. Below we will discuss two marijuana stocks that are making headway in the CBD Cannabis Industry.
A Marijuana Stock To Watch: The Leader Of The CBD Industry
Charlotte’s Web Holdings, Inc. (OTC:CWBHF) is one of the world’s leading Hemp CDB Oil producers and distributors in the cannabis industry. With revenue of $95 million in 2019 along with revenue growth of 39%, CWBHF stock holds the number one spot for all things CBD. Charlotte’s Web products are made entirely out of high-quality hemp extracts and are distributed worldwide at 21,000 locations. Although the company has a large footprint in the market, the recent shutdowns have negatively affected its financials.
Charlotte’s Web just released its earnings and they fell short of analyst expectation. With a revenue prediction of $98 million for 2020, the company is at a fork in the road. Some analyst have predicted that CWBHF stock will hit $10. Yet other predictions are calling for a more modest share price of $3.90. With CWBHF stock trading at around $2.75 if either prediction is met there might be some upside here, making CWBHF stock a pot stock to watch in the CBD industry.
The Canadian CBD Powerhouse
The Valens Company Inc. (OTCQX:VLNCF) is a vertically integrated cannabis compnay. The company is provider of cannabis products such as cannabis oils, extracts, beverages, and edibles. Located in Kelowna, Canada, Valens Company has established a footing in the cannabis industry with providing extraction services, processing facilities, testing facilities, and product development facilities. This extraction pot stock has the ability to service both the medicinal and recreational sides of the market with its current structure.
Although Valen’s reported a downtrend in extraction services this year due to the COVID pandemic. It has since reported a record number of product SKUs in the third fiscal quarter of 2020. Trading around $1.40 Valens Stock is 100% down from its high year to date. With things looking better for business, this pot stock might have some upside in the market going forward. Valens Company has a solid business structure and good forward momentum making it a CBD contender in the cannabis industry.
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