Right now is the best time to buy into a couple cannabis weed stocks like Canopy Growth (CGC), cbdMD (YCBD), and OrganiGram Holdings (OGI) for a great discount. Thousands of different brands have flooded the Cannabis sector in just the last couple of years and when the President approved the Farm bill in 2018 it was just the spark the sector needed to gain attention.
Here are some stocks I highly recommend you buy for the Cannabis Weed stock rebound:
Canopy Growth (CGC)
Canopy Growth is a fairly new player in this space but has an exceedingly stable profit output. Since the space is now fragmented it’s likely to lose small players during the economic shutdown caused by the coronavirus.
At a market cap of $5 billion with 2021 estimates of $500 million in revenue the company is set to achieve a forecast of sales topping $1 billion in 2020. This large Canadian player would largely benefit from the removal of FDA restrictions.
cbdMD now trades near the all time lows which is a great time to buy in. The company is focused on CBD and saw sales hit $10 million in the quarter.
The company operates cbdMD and Paw CBD brands with high reliance on influencers to sell the product via their ecommerce site. This allowed them to expand to over 5,300 retail doors and drove sales up 70%.
The company improved cash balance of $14 million at the end of March and it’s a very speculative play for the cannabis weed market.
OrganiGram Holdings (OGI)
Among other cannabis weed stocks this is a clear standout here, according to Wall Street. Analysts predict a per-share profit of 0.20 in 2021, the company is also highly invested in derivatives with $15 million in fully automated equipment capable of more than 5 million kilos of chocolate edibles each year.
This company grows it’s own cannabis and processes and cultivates it with high end equipment.
Cannabis Weed Stock Outlook
The Marijuana industry is estimated to be around $10.4 billion in 2018 and is expected to grow over 20% in the coming years.
Any day now the FDA could spark the growth of the cannabis sector, so these are the stocks we highly suggest you watch.