Are These Pure Play Pot Stocks Worth Watching?
In the cannabis industry, there are a lot of options. From marijuana stocks that grow cannabis to those that transport money, it appears as though cannabis stocks are abound. But, just because there are a lot of pot stocks to watch, doesn’t mean that they’re all valuable. Some marijuana stocks to watch have demonstrated their value better than others. The easiest way to find which ones have done this is to use the internet to conduct research. Information such as marijuana stock balance sheets and financial statements, can all aid in making an educated decision about which pot stock to watch
With that in mind, financial statements are in no way a tell-all. Because marijuana stocks are highly speculative, a lot depends on what a company is doing. This could be anything from producing new products, all the way to making big acquisitions. All of these factors add up to whether or not a company can be considered a pot stock to watch or not. With that in mind, it’s always smart to keep an eye on the largest marijuana stocks by market cap. These companies can help to illustrate where the cannabis industry could be headed. With that in mind, these are two big name marijuana stocks to watch.
One of the Largest Pot Stocks in The Industry
Aurora Cannabis Inc. (ACB Stock Report) is one of the largest marijuana stocks by market cap. Although ACB stock has had a bit of a troubled past, it has performed well in the past few months. Since the middle of May, ACB stock has shot up by almost 80%. Despite a lot of this being from speculation, ACB stock does have a lot going for it. So far in 2020, Aurora has had its revenue grow by as much as 28% to just shy of CA$80 million. In its most recent third-quarter result, the company posted numbers that were much higher than all expectations.
Since that time, Aurora has worked hard to keep up the momentum. In the past few months, the company has enacted a reverse stock split, as well as the assurance to investors that the company would be profitable by early next year. All of this has brought the attention back to Aurora Cannabis once more. Although it can be a very risky pot stock to watch in terms of its volatility, it remains a major player in the cannabis industry.
A Risky Marijuana Stock to Watch
Cronos Group Inc. (CRON Stock Report) is a household name for anyone who invests in marijuana stocks. Although CRON stock has not shown profitability yet, many believe that the company could be headed there. Recently, it reported the CRON stock first quarter numbers. These showed that the company has been able to grow year over year by as much as 180%. A lot of this growth can be attributed to Cannabis 2.0 in Canada.
For those who don’t know, this is the colloquial name for the legalization of cannabis derivatives that took place in Canada earlier this year. Since that time, Cronos has worked heavily to get involved in the derivatives market. The company owns several brands such as Cove and Spinach, that offer vaporizer products to the market. Investors should wait for CRON stock to post consistent results before making any potential investment. But, with a lot of positive momentum right now, it remains a leading marijuana stock to watch.
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