Thousands of investors are currently piling up and looking at how they can break through the fast-emerging industry which has only just been legalized; the marijuana industry. It’s not so long ago when anyone who would have even thought of putting his/her investments into marijuana stocks would have been considered having a fool’s dream. But all this has now become a reality. Marijuana stocks are currently basking in their watershed moments.
The legalization process is currently in its infancy even though the business is already booming. The industry has, however, experienced its own bouts of instability. But this hasn’t made it less of an interesting investment with some stocks looking to be worth a look at. Here are some of the marijuana stocks that you might be interested in buying.
1. GW Pharmaceuticals (GWPH)
This biotech company is headquartered in the U.K. and has gained a lot of attention from its use of its antiepileptic drug Epidiolex. And so far, the drug has become a huge success with patients reporting that they now experience 39% fewer seizures compared to when they were not using the drugs. This one achievement alone confirms the effectiveness of using the cannabinoids.
GW Pharmaceuticals is set to increase its investments in its research and development with all the cash on hand and close to zero debt.
2. AbbVie, Inc. (ABBV)
AbbVie is another leading marijuana stock marketing company-based drug called Marinol. This pharmaceutical firm has reported a significant rise in revenues for the past four years straight. Its operating income has also been on a steady rise. Marinol has helped to stem down vomiting and nausea in chemotherapy patients. The drug has, however, not been as remarkable when it comes to earnings as expected. It ranks among some of the top-selling drugs in the market.
AbbVie also concentrates in the U.S. market as its sole market and this can be a risky move are they are now entirely dependent on marijuana’s domestic stock value.
3. Insys Therapeutics, Inc. (INSY)
INSY has been busy making the new synthetic cannabis drug which can treat juvenile epilepsy. Syndros, another marijuana-based product, is also from INSYS and is said to help treat nausea and weight loss as a result of HIV/AIDS.
This company has, however, faced its share of problems over the past three years, both legally and financially.
4. The Scotts Miracle-Gro Company
Based in Maryville, Ohio, this marijuana stock sells lawn and garden products it is also venturing into the pesticide business and attempting to develop a line of pesticides specifically for marijuana plants. The company has spent millions in its attempts to try and acquire other marijuana companies.
5. Aurora Cannabis (ACB)
The ACB company is one of the most successful and outstanding marijuana stocks of 2017. It also just recently launched its own line of edible marijuana products. It is currently working to establish itself in the European marijuana market as well. This company is making huge moves to extend its reach in Australia as well where it has taken a 20% stake as the country’s first and biggest medical marijuana-based company.