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Looking to invest in marijuana stocks? A lot of investors are looking to get involved in the growing business of recreational and medical marijuana. There is huge growth potential for pot companies as more states legalize the use of marijuana. As of now, 26 states in the US have legalized marijuana in some form. Of the 26 states, 8 have legalized recreational marijuana as well as medical. Roughly 50% of the country has not legalized medical or recreational marijuana. Here are the companies I would keep an eye on if you are looking to invest in pot companies.
Medical Marijuana Companies
AbbVie Inc (Symbol: ABBV)
This company has a cannabis based drug Marinol that has FDA approval. Marinol is one of many drugs this company has to offer. It is not a huge seller so far, however broader legalization of medical marijuana should help this company increase sales of the drug. AbbVie pays an attractive dividend of 4.23% which is a bonus for many investors.
GW Pharmaceuticals (Symbol: GWPH)
This company has been researching medical marijuana since the 1990. They have a drug called Epidiolex that does not yet have FDA approval. If the drug is approved, it is expected to send the stock soaring. The drug is currently in late stage trials. They also have a drug called Sativex which has been approved by the FDA. Both of these drugs are cannabis based.
Insys Therapeutics (Symbol: INSY)
This company has two FDA approved cannabis based drugs. The stock is down about 460% however from the high of July 2015 and they need a huge turnaround for the stock to come up. The drugs they offer are Syndros and Subsys.
Cara Therapeutics (Symbol: CARA)
This company offers many cannabis based drugs.
Plant Growth Based Marijuana Companies
Aurora Cannabis Inc (OTC ACBFF)
This Canadian company grows, harvests and sells marijuana for medical use. They have a 55,200 square foot facility.
mCig Inc (OTC MCIG)
This is an e-cigarette company. They provide marijuana growing services such as grow room design, warehouse customization, greenhouse design, home grow units and marijuana based business consulting.
Canopy Growth Corporation (OTC TWMJF)
This is another medical marijuana growery in Canada. They have over 500,000 square feet of greenhouse capacity and offer dry cannabis and oil products. This is the largest producer of medical marijuana in Canada.
Marijuana Technology Company
Mass Roots Inc (OTC MSRT)
This company has a technology platform for cannabis consumers, businesses and activists. They have over 900,000 registered users on the platform. They make money of cannabis ads that are not allowed on Facebook or Google.
There you have it. These are the companies I would consider if I was looking to invest in the growing marijuana business.
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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