Can These Financially Stable Pot Stocks To Watch Boost Your Portfolio?
Success in the cannabis industry is based on individual marijuana stocks and their performance. As investors, we can use the internet to locate all of the information available to us. With this information, we can begin to make an educated decision about which marijuana stocks to watch. Often times, investors only focus on a few leading pot stocks to watch like Cronos Group Inc. (NASDAQ:CRON) and Canopy Growth Corp. (NYSE:CGC). And although these pot stocks do have a lot to offer, there are plenty of small and mid-cap marijuana stocks to watch.
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These smaller companies may not have the same exposure as the most popular marijuana stocks, but they can have more enticing business models. It all comes down to what each individual marijuana stock is doing, and what type of performance they are showing. With that information, finding the right pot stock to buy can be much easier than previously imagined. All things considered, here are two marijuana stocks that are showing some solid numbers despite Covid and other geopolitical factors that are impacting the cannabis industry.
A Leading MSO Pot Stock To Watch
Cresco Labs Inc. (OTC:CRLBF) is one of the most prominent MSOs in the cannabis industry. Many investors have noted being bullish on CRLBF stock for several reasons. For one, the company recently reported record revenues skyrocketing to almost $100 million. This shows a quarter over quarter growth amount of roughly 42% for CRLBF stock. In addition, the company is one of the only vertically integrated MSOs in the cannabis industry which means more potential profitability than most. Of course, there is always room for improvement with any marijuana stock, and CRLBF stock is no different. 
The company has been working to expand its market greatly in the U.S. which is what all MSOs are doing right now. And, with demand for cannabis steeply on the rise, it seems as though Cresco could continue to see potential success. Of 13 analysts asked about CRLBF stock, 12 of those reported it as a buy. While many investors focused on the MSO market look at other pot stocks like Trulieve Cannabis Corp. (OTC:TCNNF), Cresco Labs still remains a major player. For this reason, it continues to be a pot stock to watch.
A Pharmaceutical Marijuana Stock To Watch
AbbVie Inc. (NYSE:ABBV) is no small marijuana stock to watch. At around $95 per share on August 25th, ABBV stock remains quite expensive comparatively. In addition, ABBV stock has strayed away from its production of synthetic cannabis-derived pharmaceuticals such as its drug Marinol. But, ABBV stock reportedly still has as many as 59 patents for medical cannabis products as of this year. This means that it is the number one patent holder for cannabis-related pharmaceuticals. Because ABBV stock is not a pure-play marijuana stock, the company is subject to less volatility than traditional pot stocks. 
But, this does not mean that there is no large bullish potential. Rather, the company has continued to illustrate its commitment to research and development of new and groundbreaking medicines. Because of this, many believe that ABBV stock is a solid long term pot stock to watch. And while its performance will depend on what happens in the future, it remains one of the most prominent marijuana stocks in the cannabis industry.
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