Where To Buy Hemp Stock !!EXCLUSIVE!!
The COVID-19 affected many industries when enforced lockdown and social distancing was in place. However, the hemp industry was one of those industries that managed to stay afloat despite the economic recession. Many medical researchers looked into medical cannabis as an option to help stop the spread of the virus. In a study by a partnership between cannabis research companies Pathway RX, Swysh Inc., and the University of Lethbridge it was shown that certain Cannabis Sativa extracts could be used in treatments to prevent infection with SARS-CoV-2, the virus that causes COVID-19. The researchers commented:
where to buy hemp stock
In order to identify the 13 Best Hemp Stocks to Buy Now, we started with the 33 holdings in the ETFMG Alternative Harvest ETF (MJ) as of February 4, 2021, and we were able to narrow down our list to 13 stocks by using the hedge fund sentiment data.
ACB is the 13th best hemp stock to buy now. The stock was mentioned as one of the 25 Biggest Marijuana Companies in the World. The company is known for the production, distribution, and marketing of cannabis products. They recently announced a five-year supply agreement with MedReleaf Australia. Miguel Martin, CEO of Aurora said,
At the end of September, a total of 10 hedge funds tracked by Insider Monkey were long this stock. An insider recently purchased 15,000 shares at around $5 in August 2020. The stock is up 140% since then. CRON advances cannabis research, technology, and product development. During the third quarter of 2020, the company reported net revenue of $1.6 million.
At the end of September, a total of 19 hedge funds tracked by Insider Monkey held long positions in the stock. CARA is known for developing products for pruritus and pain management. In 2020, the company released a new drug application to US FDA for KORSUVA injection in Hemodialysis patients with moderate-to-severe pruritus. Derek Chalmers, Ph.D., D.Sc., President and Chief Executive Officer of Cara Therapeutics said:
The marijuana industry is an emerging and secular growth industry, driven by favorable legislation and increasing adoption of the medicinal use of marijuana around the world. Companies operating in the space are expected to experience strong secular growth and can become fruitful long-term investments. Industry-leading companies like Altria Group, Inc. (NYSE:MO), Philip Morris International Inc. (NYSE:PM), and Constellation Brands, Inc. (NYSE:STZ) are dipping their toes in the lucrative marijuana market and exploring investment opportunities. However, in this article, we will specifically discuss pure-play hemp stocks.
We reviewed the marijuana industry and identified the key players. We narrowed down our selection to companies that have solid product pipelines and positive market sentiment. Along with each stock, we have mentioned the hedge fund sentiment, analyst ratings, top shareholders, and business models. The hedge fund sentiment was derived from Insider Monkey's database of roughly 900 elite hedge funds.
Ayr Wellness Inc. (OTC:AYRWF) has a consensus Strong Buy rating from Wall Street analysts. Over the past three months, the stock has received 5 Buy ratings and 1 Hold rating and has an average price target of $12, which implies a 409% upside from current levels. As of June 30, Ancora Advisors owns 7,300 shares of Ayr Wellness Inc. (OTC:AYRWF) which amounts to a stake of $35,000.
Some of the top large-cap stocks that have exposure to the marijuana market include Altria Group, Inc. (NYSE:MO), Philip Morris International Inc. (NYSE:PM), and Constellation Brands, Inc. (NYSE:STZ).
Trulieve Cannabis Corp. (OTC:TCNNF) is a leading American producer and cultivator of medical and recreational cannabis. Trulieve Cannabis Corp. (OTC:TCNNF) is one of the best marijuana stocks to buy now and has a consensus Strong Buy rating from Wall Street analysts. Over the past three months, 10 Wall Street analysts have given the stock Buy ratings. The stock has an average price target of $31 which represents an upside of 267% from current levels.
Over the past three months, Jushi Holdings Inc. (OTC:JUSHF) has received 3 Buy ratings and 1 Hold rating from Wall Street analysts and has a consensus Strong Buy rating. The stock has an average price target of $2.8 which represents an upside of 128.6%. Wall Street sees upside to Jushi Holdings Inc. (OTC:JUSHF) and the stock is one of the best marijuana stocks to buy now.
Verano Holdings Corp. (OTC:VRNOF) is a profitable cannabis company and also has free cash flows to fund its operations, therefore it is among the best marijuana stocks to buy now. As of September 30, the stock has a trailing twelve-month operating margin of 16.14% and free cash flows of $1.6 million.
On September 8, PI Financial analyst Jason Zandberg started coverage of Verano Holdings Corp (OTC:VRNOF) with a Buy rating and a C$22 price target. Over the past three months, the stock has received 2 Buy ratings and 1 Hold rating from Wall Street analysts and has an average price target of $11.28, which implies a 142.5% upside from current levels.
Green Thumb Industries Inc. (OTC:GTBIF) is a low-risk and profitable cannabis company to own and one of the best marijuana stocks to invest in now. According to the company's balance sheet, as of June 30, Green Thumb Industries Inc. (OTC:GTBIF) has a debt-to-equity ratio of 0.15. As of September 30, the company has a trailing twelve-month operating margin of 24.23%.
This August, Canaccord analyst Matt Bottomley revised his price target on Green Thumb Industries Inc. (OTC:GTBIF) to C$35 from C$40 and reiterated a Buy rating on the shares. Over the past three months, the stock has received 11 Buy ratings from Wall Street analysts and has a consensus Strong Buy rating. The stock's average price target sits at $23, which represents an upside of 147.5% from current share levels.
Wall Street analysts are bullish on Curaleaf Holdings Inc. (OTC:CURLF). This August, Alliance Global Partners analyst Aaron Grey revised his price target on Curaleaf Holdings Inc. (OTC:CURLF) to C$12 from C$15 and maintained a Buy rating on the shares. On August 9, Canaccord analyst Matt Bottomley revised his price target on Curaleaf Holdings Inc. (OTC:CURLF) to C$13.50 from C$14.50 and reiterated a Buy rating on the shares. Curaleaf Holdings Inc. (OTC:CURLF) has a consensus Strong Buy rating from Wall Street analysts. Over the past three months, the stock has received 9 Buy ratings and 1 Hold rating and has a median price target of $9, which implies an upside of 82.5%.
Curaleaf Holdings Inc. (OTC:CURLF) has low debt and is also showing the ability to maintain profitability. As of September 30, the stock has a trailing twelve-month operating margin of 11.83% and as of June 30, the company has a debt-to-equity ratio of 0.34. Curaleaf Holdings Inc. (OTC:CURLF) is among the best marijuana stocks to buy now.
Cresco Labs Inc. (OTC:CRLBF) cultivates, manufactures, and sells retail and medical cannabis products in the United States. On August 17, Cresco Labs Inc. (OTC:CRLBF) announced earnings for the second quarter of fiscal 2022. The company reported a revenue of $218.2 million and outperformed Wall Street consensus by $68,000. As of June 30, the company has a debt-to-equity ratio of 0.60. The company has a trailing twelve-month operating margin of 14.67% and is therefore ranked high among the best marijuana stocks to buy now.
On August 18, Piper Sandler analyst Michael Lavery revised his price target on Cresco Labs Inc. (OTC:CRLBF) to $6 from $9 and maintained a buy-side Overweight rating on the shares. This August, Canaccord analyst Derek Dley revised his price target on Cresco Labs Inc. (OTC:CRLBF) to C$8 from C$9.50 and reiterated a Buy rating on the shares. Over the past three months, Cresco Labs Inc. (OTC:CRLBF) has received 5 Buy ratings and 2 Hold ratings from Wall Street analysts. The stock has an average price target of $6.75 which represents an upside of 149%.
But while 2023 might not be a year to buy in expectation of rapid gains, this could be a great entry point for purchasing some solid cannabis stocks at a discount and holding them in anticipation of eventual federal legalization in the U.S., the world's biggest pot market.
In Canada, despite federal legality, the industry has been weighed down by high taxes. In the U.S., where the drug remains federally illegal, taxes are also high, and the industry faces onerous hurdles to financing from banks. Because of federal illegality in the U.S., plant-touching companies can't list on major exchanges, and many institutional investors don't want to buy shares of companies trading over the counter, limiting marijuana firms' ability to raise money.
"From a stock perspective, the marijuana industry has not experienced the same bounce back that other beaten-down sectors have experienced since the market's bottom in October," said Tom Bruni, senior writer for The Daily Rip & Markets newsletter at Stocktwits. "Part of that is because, from a regulatory or business standpoint, there have yet to be any significant catalysts to spark a renewed interest in the space."
On the StockTwits platform, there are only two pot stocks held by popular exchange-traded fund ETFMG Alternative Harvest ETF (MJ) that have a bullish sentiment reading: SNDL Inc. (SNDL) and Cronos, according to Bruni.
Hempstock Pharms Limited is Woodstock's first and only organic hemp flower farm located just outside of Woodstock's City Center. Grown naturally outdoors, barn dried, and hand processed, our hemp flower maintains all the natural cannabinoids and terpenes without the mind-altering impact of THC (less than .3%). Our high CBD hemp flower is lab tested and unique for it's beneficial and flavorful properties.
Even though the cannabis industry is growing, there are only a few dozen publicly-traded players. And because Canada legalized recreational marijuana in 2017, many pot stocks are headquartered there. In general, cannabis companies are broken down into the following categories: 041b061a72