Why Are These Pot Stocks to Watch so Popular?
In the cannabis industry, popularity can reign supreme. But, just because a pot stock is popular, does not mean that it has the most potential. Take Tilray Inc. (NASDAQ:TLRY) for example. The major marijuana stock shot up by an unparalleled amount several years ago, solely based on speculation and its market visibility. But soon after, the company began to fall back toward a more accurate value. And although this is only one example, this has happened with many leading marijuana stocks to watch. But, popularity can also mean that a company is doing the right thing to stay successful.
Some pot stocks like Green Thumb Industries Inc. (OTC:GTBIF) or Aphria Inc. (NYSE:APHA), have shot up due to their popularity. But, that popularity only came because of solid business models and a great attempt at seeing future success. As you can see, finding the right pot stock to watch can be a challenge at times. With that in mind, all we need to do is put in the effort to discover which marijuana stocks are truly worth watching. All things considered, here are two popular marijuana stocks that continue to be bought up by investors.
A Leading REIT Pot Stock to Watch
Innovative Industrial Properties Inc. (NYSE:IIPR) is one of the most popular non-pure play marijuana stocks in the cannabis industry. Per-share, IIPR stock has amassed the greatest profitability of any marijuana stock. In its most recent first quarter, IIPR stock showed some better than expected numbers. With this, the company has also stated that it has as many as 61 properties that span 16 states in the U.S. For those who don’t know, IIPR stock operates as a real estate investor that then leases its properties to those who wish to grow or process cannabis.
Because the cannabis industry has grown substantially in the past few years, IIPR stock has grown as well. In addition to showing very solid profitability, IIPR also offers a dividend to investors. These continue to show investors that it is a leading pot stock to watch. For those who may want a more stable pot stock to watch, IIPR operates off of long term contracts. With this, many believe in the future of IIPR as one of the crucial pot stocks in the cannabis industry.
A Pharmaceutical Play for the Cannabis Industry
GW Pharmaceuticals Inc. (NASDAQ:GWPH) is also a very popular marijuana stock amongst cannabis investors. Recently, the investment firm BlackRock reportedly increased its holdings in the company by as much as 66,000 shares. This is quite a good sentiment as it shows there is a great deal of positivity surrounding GWPH stocks future. The company has continued to push its pharmaceutical drugs around the world. With this, it has brought in almost $120 million in net sales in only its second quarter.
Its main drug, Epidiolex, has been hailed as being a miracle for those who have rare forms of epilepsy. Although the drug is still seeking approval in several countries, it has amassed quite a big following in many areas around the world. Given that GWPH stock is not a pure-play pot stock, it is also known to be less volatile than many others. Because of this, it remains a leading marijuana stock to watch.
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