What Will Be the Top Marijuana Stocks to Own in 2018?
The marijuana market is growing rapidly and that’s creating a lot of interest in owning marijuana stocks. However, investors need to pick what marijuana stocks to buy carefully. There’s likely to be more losers in this industry than winners, and it could be a long time before any of these companies deliver consistent earnings per share.
The cannabis market is growing rapidly and that’s creating a lot of interest in owning marijuana stocks. However, investors need to pick what cannabis stocks to buy carefully.
If you’re wondering what cannabis stocks could be top stocks in 2018, you might want to consider the catalysts ahead for the following companies as laid out by Todd Campbell in the article posted July 9, 2017: GW Pharmaceuticals (NASDAQ: GWPH), Canopy Growth (TSX: WEED)(NASDAQOTH: TWMJF) and Insys Therapeutics (NASDAQ: INSY).
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Unlike cannabis companies that are selling medical cannabis at dispensaries in states with medical cannabis laws on the books, GW Pharmaceuticals is pursuing Food and Drug Administration approval of a cannabis-based drug for epilepsy, and a decision from the FDA could happen early in 2018.
The biggest marijuana stock in Canada is Canopy Growth, the well-funded marijuana producer behind the popular cannabis brand Tweed. Canopy Growth has over $100 million on its balance sheet, and it did $40 million in cannabis sales last fiscal year. It’s using its deep pockets and cash flow to boost grow capacity, acquire smaller competitors, and establish itself as the go-to online marketplace for legal weed when recreational marijuana gets the green light in Canada.
It’s been a rough go for Insys Therapeutics investors. The company’s been under scrutiny ever since former executives were arrested on charges of illegally marketing its opioid spray Subsys for off-label use. A revolving door in the C-suite and ongoing investigations have done little to help the company stay focused on launching its cannabis-based drug, Syndros, and developing cannabidiol drugs like Epidiolex for tough-to-treat epilepsy.