How Can These Two Pot Stocks to Watch Potentially Turn Your Portfolio Around?
It’s been a tough few weeks for anyone who investors in marijuana stocks. Although leading pot stocks to watch have mostly been up since mid-March, fears of higher numbers of coronavirus cases have struck the whole stock market with bearish trading. This downtrend has only existed in the short term, however, and many hope that the week of June 30th could help to bring things back on track. Of course, anyone who investors in pot stocks know that the industry is very volatile. Because of this, days of big gains or big losses can be quite common.
Regardless, the losses from last week have put some leading marijuana stocks in the value territory. Because of that, it’s worth searching to find several decent pot stocks to watch. One of the best recommendations for investing in the cannabis industry is to think in the long term. Cannabis stocks are not a stable short term investment. But, many believe that within the next decade, the size of the cannabis industry will shoot up dramatically. Studies continue to show that in that time period, more legalization will occur, and thus the cannabis industry will grow. Because of this, investors should keep an eye on these two marijuana stocks to watch.
A Classic Marijuana Stock Option
Innovative Industrial Properties Inc. (IIPR Stock Report) is one of the most prominent non-pot pot stocks in the industry. IIPR stock has also remained one of the biggest gainers in the cannabis industry for quite some time. The main reason for this? Stability. Because IIPR stock is based in the REIT business model, it’s revenue stream is predictable and stable. This means that many investors choose it as a solid long term marijuana stock to watch.
IIPR stock has continued to outperform the market when contrasted with more prominent marijuana stocks. The biggest factor to IIPR stock’s growth is the potential of more legalization of cannabis in the U.S. If this occurs, it will give IIPR a much broader range for where it can own properties. Of course, the company already has quite a broad reach, but it definitely could be wider. Even if legislation doesn’t change in a big way, IIPR will have a great chance of showing continued profitability. For this reason, it remains one of the leading marijuana stocks to watch.
Is This Marijuana Stock Worth The Risk
Aurora Cannabis Inc. (ACB Stock Report) is another extremely popular marijuana stock. The company has been around since the early days of the cannabis industry and has seen some heavy volatility in that time. When COVID came along, ACB stock got hammered alongside the rest of the industry. But, it has managed to make a big comeback in only a short period of time. Analysts have stated that ACB stock has a price target of around CA$27 which is not bad considering where it currently is.
The company has made a number of big changes in the past few months including a massive layoff of its employees among other cost-cutting measures. Because of this, some investors believe that there could be a strong future ahead for ACB stock. Whether or not this becomes reality remains up in the air. Investors should remember that ACB stock is known to be quite volatile. This means that there is really no predicting what type of price action will occur. But with that in mind, it remains a leading marijuana stock to watch.
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