Two Marijuana Stocks to Watch To Close Out The Week

Why These Pot Stocks May Succeed in the Near Future

 

The North American cannabis industry is in an interesting place as of September 2020. As we move toward the end of the year, we may see some new changes affect how marijuana stocks perform. This includes cannabis stocks like Cresco Labs Inc. (OTC:CRLBF) and Aurora Cannabis Inc. (NYSE:ACB). Although it is difficult to project where the cannabis industry may go in the future, analysts continue to state that there is a great deal of future growth ahead. This includes small pot stocks like MedMen Enterprises Inc. (OTC:MMNFF) as well as others.

[Read More]

But, as prudent investors, we should make sure that we are always doing as much research as we can. With this, we can ensure that all of our investments are protected by ample information. This research includes knowing a company’s financials as well as where it could go in the near future. With this information at hand, we can begin to make educated decisions about which companies are pot stocks to watch, and which are not. That being said, here are two North American marijuana stocks to watch.

A Nevada Based Marijuana Stock to Watch

Planet 13 Holdings Inc. (OTC:PLNHF) is one of the leading small cap MSO pot stocks to watch. Although it is different than many other MSOs, its profitability rivals some major marijuana stocks to watch. In Nevada, Planet 13 Holdings owns a 112,000 square foot location that is aptly titled the SuperStore. Within this location is everything from a coffee shop to a state of the art cannabis testing facility. For those who don’t understand how large this location is, the average size of a major department store is roughly 90,000 square feet.

In addition to its Nevada location, PLNHF stock is benefitting from a new store that is being opened in Santa Ana, CA. This location will span 40,000 square feet which is still a major piece of real estate. Planet 13 has taken on a different mindset than traditional retailers of cannabis. By being completely vertical in every aspect of its business, Planet 13 has managed to see more success than other similar companies. With this information in mind, investors should continue to keep a close eye on this marijuana stock to watch.

A CBD Pot Stock to Watch

Charlotte’s Web Holdings Inc. (OTC:CWBHF) is one of the leading producers and suppliers of CBD products in the U.S. as of the August 2020, Charlotte’s Web has stated that it has its products in as many as 10,000 stores. Recently, CWBHF stock saw a big gain after the company announced the acquisition of Abacus Health. For those who don’t know, Abacus Health is a major supplier of CBD products that is in more than 12,000 stores in the U.S. This deal, valued at roughly $70 million, was completed in an all stock transaction. The hopes are that this deal with give Charlotte’s Web access to a much larger footprint in America. cweb pot stock

CWBHF stock saw a decline last year after some troubles regarding the FDA’s stance on CBD. CEO of the company, Deanie Elsner stated that “in November, the FDA issues several warning letters to certain CBD companies which caused our customers to pull back across all channels, negatively impacting the sector and our sales.” Although the FDA has had a heavy stance on CBD, many believe that CBD will see increased adoption in the near future. For this reason, CWBHF stock remains a leading pot stock to watch.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.