Top Marijuana/Cannabis Stocks to Watch in January 2019
There’s no doubt that stocks in the volatile marijuana and cannabis space have been on a roller coaster ride for many months. But that shouldn’t stop investors from taking a serious look at this controversial corner of the market. The broad legalization of cannabis products continues to progress. And it’s not going to stop any time soon. The trick, as always, is in picking the marijuana-related stocks with the best potential to succeed and dominate as competition heats up. Here, we give you our picks for the top marijuana/cannabis stocks to watch in January 2019.
Here are our picks for January 2019:
- Cronos Group (CRON)
- KushCo Holdings (KSHB)
- Canopy Growth Corporation (CGC)
- AbbVie Inc. (ABBV)
- GW Pharmaceuticals (GWPH)
The chart above shows our picks with their stock price and one-year performance labeled on the y-axis.
Cronos Group (CRON)
We wrote about Cronos Group a month ago when we talked about how Altria Group (MO), which makes Marlboro cigarettes, were considering investing in a major stake in Cronos. Well, Altria did announce that large investment, and Cronos’ stock got a big boost. The company is a Toronto-based producer of medical marijuana, and the first such stock on Nasdaq. It ships its product internationally and is a leader in the marijuana/cannabis space.
KushCo Holdings (KSHB)
KushCo Holdings, otherwise known as Kush Bottles, is a provider of solutions, supplies, and services to the marijuana/cannabis industry. Its products include, most notably, vaporizers and pipes meant to facilitate the use of marijuana. Founded in 2010, KushCo is the only over-the-counter (OTC) stock on our list.
Canopy Growth Corporation (CGC)
Canopy Growth is one of the most prominent pure-play cannabis stocks trading on a major exchange (NYSE). The company is awash in cash thanks to a huge investment from Constellation Brands (STZ). Canopy owns and operates many different brands, and produces/markets both medical and recreational strains of marijuana.
AbbVie Inc. (ABBV)
AbbVie is much different from the other marijuana-related companies on our list. It’s actually a huge pharmaceutical company that’s a component of not only the S&P 500, but also the S&P 100. The only reason it’s included on this list at all is that it has a synthetic cannabis-based drug on the market. FDA-approved Marinol helps alleviate nausea for chemotherapy patients and also helps AIDS patients who have lost their desire to eat. Clearly, AbbVie does much more than just produce this drug, so this is far from a pure cannabis play. However, it’s one of the first massive companies to get involved in marijuana/cannabis products on a major scale.
GW Pharmaceuticals (GWPH)
U.K.-based GW Pharmaceuticals makes anti-seizure drugs derived from cannabis. One of its primary products, Epidiolex, was approved for treatment of seizures that are associated with rare types of epilepsy, including Dravet syndrome and Lennox-Gastaut syndrome. The company is also known for its cannabis-based multiple sclerosis treatment, Sativex.
Our top marijuana/cannabis stocks to watch in January 2019 are a diverse group of companies that differ substantially in size, product, trajectory, and stock performance. But they all share the unifying theme of marijuana, cannabis, pot, weed, ganja, Mary Jane, or whatever you choose to call it. And they all have a strong opportunity to benefit tremendously from the rapid adoption and legalization of marijuana for both medical and recreational purposes.
IMPORTANT: The information above should not be construed as investment advice and should not be considered as a solicitation to buy or sell securities. Past performance is not indicative of future results. Trading and investing in the financial markets involves substantial risk of loss, and may not be suitable for all investors.
Disclosure: At the time of this article’s publication, we have no position in any security or trade/investment mentioned, nor do we have any business relationship with any company whose stock may be mentioned.
Senior Technical Analyst at The Technicals
As a momentum stock trader, Luke focuses mostly on strong market moves. Luke has been trading the markets since the early 2000s, but still gets excited by big movers. Whether a surging large-cap tech company or meteoric penny stock, Luke tracks and trades winners. A technical analysis purist, Luke authors many of our Top Stocks & ETFs reports. Contact Luke