Top Marijuana/Cannabis Stocks to Watch in February 2019
Marijuana. Cannabis. Weed. Pot. Ganja. Whatever you choose to call it, it’s here to stay – and legally. The trend of marijuana legalization continues, fueling an ongoing boom in cannabis-related stocks. Year to date, as the overall stock market has rebounded strongly from December’s deep correction, some stocks in the marijuana space have soared. Here, we give you the all-new February 2019 edition of our popular Top Marijuana/Cannabis Stocks to Watch. (For last month’s, see: Top Marijuana/Cannabis Stocks to Watch in January 2019.)
Top Pot Stocks in February
Our top marijuana/cannabis stocks this month include three from last month that have continued to perform strongly and hold future potential promise – CRON, CGC, and GWPH. The fourth stock – OGRMF – is the only one on our list that trades over-the-counter rather than on a major exchange. The chart above shows the prices of our four picks as well as their one-year returns as of the market close on Friday, 2/1/2019. Here are the stocks:
- CRON: Cronos Group | Price: $20.81 (as of 2/1/2019 market close) | 1-Year Performance: +183.01% (as of 2/1/2019 market close)
- CGC: Canopy Growth | Price: $48.88 (as of 2/1/2019 market close) | 1-Year Performance: +93.95% (as of 2/1/2019 market close)
- OGRMF: OrganiGram Holdings | Price: $6.00 (as of 2/1/2019 market close) | 1-Year Performance: +53.06% (as of 2/1/2019 market close)
- GWPH: GW Pharmaceuticals | Price: $146.37 (as of 2/1/2019 market close) | 1-Year Performance: +5.97% (as of 2/1/2019 market close)
Our readers and stock investors in general should know Cronos Group and Canopy Growth well. They are higher profile than others only because major S&P 500 companies have injected serious money into these companies. As a result, their stocks have seen some massive swings, most often to the upside. Alcoholic beverage giant Constellation Brands (STZ) invested $4 billion into Canopy Growth. And tobacco products maker Altria (MO) invested $1.8 billion into Cronos Group.
Companies Behind These Cannabis Stocks
Cronos Group 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.
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 the huge investment from Constellation Brands. Canopy owns and operates many different brands, and produces/markets both medical and recreational strains of marijuana.
As noted, OrganiGram Holdings is traded over-the-counter, as opposed to being exchange-traded like the rest of the stocks on this list. A Canadian company, OrganiGram grows and sells dried cannabis and cannabis oil products to wholesalers, retailers, as well as consumers.
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. The company is also known for its cannabis-based multiple sclerosis treatment, Sativex.
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