The first half of 2017 has been exciting so far, but not nearly exciting as 2016. Many of the marijuana stocks with the largest market caps have not seen great gains so far this year. Many believe however, that the beginning shall not dictate the end. Three cannabis stock are hopefully in the running for some solid gains towards the end of the year. Those three are Aurora Cannabis (NASDAQOTH: ACBFF), Canopy Growth Corporation (NASDAWOTH: TWMJF), and Insys Therapeutics (NASDAQ: INSY). These stocks will hopefully see some decent gains but he end of December.
First on the list is Aurora Cannabis. This stock soared over 300% last year with 2017 only seeing a double digit climb. Double digits are still solid for a stock in general, but in the marijuana market, they are not stellar.
There are a few reasons why Aurora should see some gains this coming year. With the company ranking as one of the largest licensed providers of medical marijuana in Canada, the ever-expanding market will lead the company to continuous growth. The company added over 3,000 patients in May and June alone and should continue to add more as time goes on.
Next on the list is Canopy Growth. Canopy growth stands in the same boat as Aurora with the only exception being that Canopy is undoubtedly larger. Their stock gained over 300% in value last year but has only grown in the double digits so far this year.
Sales have continued to rise with a report coming out earlier in June 27th. Their revenue increased over 200% to over $40 million dollars. With sales continuing how they are now, Canopy should continue their stellar growth.
Insys Therapeutics is a company that develops cannabinoid drugs rather than provide the raw plant straight to consumers. Unlike the top two aforementioned stocks, Insys did not perform well last year. However, Insys has been up over 60% this year and is hopeful to see gains continue throughout the year. With new treatments being released often, and new drugs in the last phases of development, Insys in scheduled to continue its massive growth.
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