Now that more and more countries around the world are taking the leap to complete cannabis legalization, the marijuana industry is expected to be heading towards a relentless winning streak. As a result, most of the cannabis stocks have increased in value during the first five months of this year. If you want to take advantage of this thriving industry, then here are the top 3 cannabis stocks 2019.
- Canopy Growth
Canopy Growth has been showing great potential in the US hemp industry currently. It’s among the first Canadian-based producers of cannabis to have entered the US market and the company is open to the possibility of expanding their business even more in the future. Thus, they have invested heavily on cannabis-infused products such as beverages and edibles. Canopy is truly an interesting company to watch out for when it comes to cannabis stocks 2019.
Martin Landry, a GMP analyst, has reiterated recently a Buy Rating for the Canopy Stock, which has a price target of $72, and suggests that the stock could rise by 30% from its current levels. Overall, CGC has 7 bullish analysts on its corner in over the past three months and four analysts have played it safe on the sidelines. More importantly, the 12-month average price target of C$80.17 is showcasing a 46% increase in upside potential for the CGC stock.
- Charlotte’s Web Holdings
Charlotte’s Web is currently one of the leading hemp CBD companies that produce mostly hemp and CBD products. These products are non-intoxicating and are highly effective at improving one’s health. In fact, hemp has revolutionized various industries nowadays and Charlotte’s Web is among those companies that have led the hemp revolution by offering CBD-infused pet products as well. They also offer CBD extracts and capsules, as well as a wide range of other CBD products. Although hemp is not technically cannabis, it’s now considered a powerful substance in the world of medicine.
Given the continued rapid expansion of the product retail locations of Charlotte’s Web, it’s no wonder why it’s considered one of the best cannabis stocks 2019. The company’s ongoing product innovations and brand development promise to use CBD as the main active ingredient and some of the new products that are expected to be released by the company in the future are pet offerings, consumables, topical, and even cosmetics.
- Namaste Technologies
The Namaste stock is known for having a love and hate relationship with its investors. It seems that the company is still trying to look for its foothold in the cannabis industry. After a bumpy ride in 2018, it has finally gained a slight uptrend in the recent months. Slowly but steadily, Namaste Technologies is looking for its footing in the industry in the midst of all the adversity. Thus, Namaste has a strong potential to be gearing back towards its formal glory. This June, Namaste might be able to finally find its way in the cannabis market and will continuously be getting a grip in the industry.