ECONOMY

The Rise Of Medical Marijuana Stocks

According to the Bank Of America, the global cannabis market has a high probability to grow up to $300 billion by 2030. 

Medical marijuana can boost your health, but marijuana stocks can boost your bank balance. 

As you know, the sale of marijuana products is allowed only in a limited number of countries. Among those limited countries, only specific states and counties are free from restrictions.

A good news- slowly and gradually, the legal restrictions for trading medical marijuana is decreasing. In fact, this year, many counties in the United States (For example, Alabama) were given permission to deal marijuana or CBD products. 

That’s why the sale of marijuana is continuously increasing, especially this year, profiting medical marijuana companies and brands. With the growth of marijuana brands, their stocks are also growing. Thus, investing in them might be profitable in 2021.

Today we are going to share with you the top marijuana stocks you can watch this year. But before that, let’s learn about the various types of medical marijuana stocks. It will help you select the most traded stocks in this field.

Types Of Medical Marijuana Stocks

Medical marijuana stocks or MM stocks are the stocks of those companies that come under the medical marijuana industry.  There are different catalysts that affect Marijuana stocks, let’s explore a few types of recommended MM companies:

  • Marijuana Growers

These are the stocks of companies that grow marijuana. In the MM industry, the grower companies acquire most of the space. Examples include Aurora Cannabis (NYSE: ACB), Tilray (NASDAQ: TLRY) and Curaleaf Holdings (OTCQX: CURLF).

  • Marijuana Distributors

These companies are in the business of transporting marijuana-made products. One of the fastest-growing stocks of such companies is Jushi Holdings (CNSX: JUSH).

  • Marijuana Dispensaries

Companies or brands who have a chain of dispensaries where marijuana products are sold. In Canada and the US, most people purchase medical marijuana from dispensaries.

  • Pharma Stocks

Companies who deal in the development of pharmacological products that contain medical hemp or CBD. These companies are one of those who have been experiencing great growth since the first quarter of 2021. 

A very popular example for such a company is GW Pharmaceuticals (NASDAQ: GWPH). They have rolled out the first-very CBD-based drug in 2018, which has also got the approval of the FDA. 

  • Related Products

Hydroponic products, lighting systems, fertiliser, etc., to grow marijuana. The stocks of the companies who provide such supplies come under this type. Examples of such stocks include: GrowGeneration Corp (NASDAQ: GRWG), Scotts Miracle-Gro (NYSE: SMG), etc.

Medical Marijuana Stocks To Watch In 2021

Now let’s share with you the top 10 medical marijuana stocks that you should add to your watchlist for 2021. All of them have shown enormous growth in past and might give you high returns in future too:

  1. India Globalization Capital, Inc
  2. Marlboro maker Altria
  3. Innovative Industrial Properties
  4. Constellation Brands
  5. Curaleaf Holdings
  6. Cresco Labs
  7. Aphria Inc.
  8. Aurora Cannabis Inc
  9. Hexo Corporation

   10. Cronos Group Inc.

Final Words

In the end, we have only one thing to say – before investing into any medical marijuana stock, do your own research. Don’t make any decision based on the influence of others. The stocks we have suggested to you above have high chances to rise. But since it’s the stock market, we cannot be sure about anything. Also, invest carefully.