Will Cannabis Stocks Perform Better in October?
In the month of October, marijuana stocks have begun to rally in a big way. Most pot stocks in the industry are regaining the value they lost in September. In spite of some balance sheet issues from top cannabis stocks like Aurora Cannabis Inc. (ACB Stock Report) affecting sentiment in Canadian marijuana stocks. Recently, the cannabis industry seems to be in an upward trend going into the end of the year.
As of now, many of the leading marijuana stock companies are growing despite the current economic environment caused by the Pandemic. For example, Green Thumb Industries Inc. (GTBIF Stock Report) has continued opening dispensary locations in 2020. At the same time, the company has entered into an exclusive partnership to open a store with the popular brand Cookies on the Las Vegas strip in 2021. This shows that major cannabis stock companies are building relationships with other marijuana brands that are popular in the private sector.
How Is the Cannabis Industry Evolving?
This type of foresight is key to the profitability of the top-performing cannabis companies in the industry. Not only will it ensure that the pot stock is attached to the most popular cannabis products on the market. It also gives the company a direct understanding of which products marijuana consumers are choosing and why. In the future, you can see more of these partnerships forming between privately owned marijuana companies and well-established cannabis stock companies.
Some of the best performing cannabis companies have profited greatly with the partnerships and agreements they have been able to put in place. Of course, interested investors can find out what new ventures these marijuana companies are pursuing with some research into the financials and news releases the company has. With that in mind let’s take a look at some of the most profitable marijuana stock companies in the industry.
A Canadian Leader with an International Operation
Aphria Inc. (APHA Stock Report) is a leading producer of medicinal and recreational marijuana-based in Ontario. The company has developed retail and wholesale operations in 10 countries besides Canada. Recently, Aphria became the main distributor for its German subsidiary CC Pharma. The company is a leading supplier of pharmaceutical products to 13,000 pharmacies across Germany. Earlier in October Aphria announced it had completed its first shipment to Germany which strengthens its position as a leading cannabis company in the country.
In addition, Aphria has already been showing profitability in recent financial reports. In fact, the company has reported five consecutive quarters of profits and its German subsidiary has helped it achieve this accomplishment. Out of the top five Canadian giants Aphria has maintained the strongest balance sheet.
Investors seem to be noticing the company’s potential according to recent trading action. Since the beginning of October Aphria’s stock has seen a significant price increase. Gaining 14% for the month the stock has been the focus of investor interest. For this reason, APHA stock is a top Canadian marijuana stock to watch this month.
The Real Estate Company Growing with the Industry
Innovative Industrial Properties, Inc. (IIPR Stock Report) is the first and only real estate company on the New York Stock Exchange to focus on the regulated cannabis industry. The company has established relationships with some of the biggest marijuana stock companies in the market. For example, the company recently announced a partnership with MSO marijuana stock Green Thumb Industries Inc.
As a result of the agreement, the company is financing the addition of a cannabis cultivation facility to its existing manufacturing plant in Toledo, Ohio. In addition, Innovative Properties also has long-term leases with other leading cannabis companies like Trulieve, Curaleaf, and Cresco Labs to name a few.
Above all IIPR stock has performed very well for its investors. Since its inception three years ago the stock has risen over 600% giving shareholders an excellent return on investment. Similarly, the stock has also managed to give recent investors a great gain in 2020. On top of that the stock also gives shareholders an annual dividend of $4.68 a share. Really a dividend is a rare find in the cannabis industry and adds to IIPR’s stock allure. In other words, this cannabis stock has the makings of a possible marijuana stock for your portfolio going forward.
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