Investors should look into these four companies as the marijuana industry continues to expand
The Farm Bill is almost guaranteed to receive approval in its final vote by Congress. That measure will introduce a host of changes to legislative actions, including the legalization of industrial hemp. Because of this, the marijuana stock market could be on the verge of a positive run and four companies, in particular, should be closely watched.
Colorado-based Leafbuyer Technologies is a hot item. It is the official cannabis deals platform of a number of entities and has an online network that reaches millions of marijuana consumers around the country. Its stock has been positive for most of the year, driven primarily in a 67% increase in sales in the third quarter of the year.
Despite some earlier negativity surrounding the company, Tilray is still a strong buy. It has now partnered with the Lambert Initiative for Cannabinoid Therapeutics at the University of Sydney and continues to impress with its ability to ink important supply deals around the world.
Canopy Growth is almost always a contender and this hasn’t changed. It has signed a number of important deals over the past year, including one with cannabis icon and rapper Snoop Dogg, as well as with major breeders DNA Genetics and Green House. It is also involved in a deal with Constellation Brands, which owns Corona beer, Ruffino wines, Casa Noble tequila and many more.
Cronos has been receiving a lot of attention lately. After word got out that the company was being considered for purchase by Marlboro cigarette manufacturer Altria Group, it has become a favorite on Wall Street.
No investment is a sure thing and the markets are still going to be more volatile, at least in the near term. However, stocks should be seen as a long-term investment and these four stocks are expected to produce healthy dividends going forward.