Top Marijuana Stocks To Watch
With the growing progress in legalizing the use of marijuana, many investors are becoming increasingly excited about the possibilities, especially in the burgeoning medicinal market, with more and more companies developing medical applications that are gaining a foothold in the marketplace. The inevitable rush for businesses to cash in on this potentially very lucrative industry has led to hundreds of new start ups setting up shop, however there is a good chance that lots of these companies will fill. So far, the major winners have been long established companies which have branched out into the marijuana craze. If you're interested in the potential of investing in marijuana stocks, you need to know which are likely to be the most successful. Here are some of the ones to watch this year.
ABBV – AbbVie Inc
This pharmaceutical company is leading the way thanks to having launched a marijuana based medicinal drug onto the market. Marinol has been approved by the FDA and is recommended for the treatment of nausea induced by chemotherapy. It can also treat AIDS patients who are struggling with their appetite. One of the main reasons to invest in AbbVie is that it is a broad spectrum company with many drugs to its name. This means you can cash in on this new marijuana trend without having to risk a 100% exposure to an entirely cannabis based industry. There is a risk in investing in AbbVie however. As it focuses virtually exclusively on the US market, any problems with the domestic market may well cause a drop in the value of shares in this company. Luckily, the divided goes a long way to offsetting this risk as it stands at almost 4%.
SMG – Scotts Miracle-Gro
If you're looking for a way of indirectly investing in the cannabis market, Scotts Miracle Gro stocks could be the ones for you. This well known garden care company has started to develop products aimed at marijuana growers, including a number of pesticides designed for cannabis plants. The companies have recently dramatically increased, making this stock one to watch closely over the next few months.
CRBP – Corbus Pharmaceuticals
Although this pharmaceutical company's stocks have been up and down over the previous year, hopes are high for 2017 thanks to its cannabis based drug line which is currently undergoing a clinical trial. Resunab, their product designed as a way of treating cystic fibrosis, is currently being tested for its effectiveness and if the outcome is positive it is highly likely that the stock will go up.
INSY – Insys Therapeutics Inc.
This pharmaceutical company makes a number of drugs that are not related to the cannabis market, however at the present time they are working on a synthetic marijuana drug designed to treat epilepsy in children as well as an innovative spray technology as a way of delivering pharmaceutical cannabinoids. The company's gross profit is up on 3 years ago, and although they have seen some volatility, this stock is a good choice for this year.
While cannabis drugs have seen some failures alongside their successes, the current trend in the market in the direction of medicinal marijuana makes any of these four stocks an interesting choice, and certainly well worth watching. book