Putting money into the cannabis stock market could offer greater rewards as COVID-19 hurts others
After showing small signs of recovery, the cannabis industry has fallen again in a downward spiral, and many stocks are losing its value significantly. The industry was struggling even before the coronavirus pandemic took over all the attention of the world, and it has caused an even bigger crisis for this and other sectors, as well. Many investors are on a sell-off streak which has been massive and many cannabis companies in the industry are seeing their stock again nosedive to the floor and reaching new lows. Every cloud has a silver lining, though, and this situation might be ideal for long-term investors to take advantage of and look at securing great profits.
MedMen Enterprises is the first stock to pay attention to. This cannabis company was once regarded as one of the most promising multi-state operators int he country, sadly it has suffered drastic changes over the past months that caved on that. With great expectations, MedMen tried to grow faster than it could handle with several acquisitions that were too much. This company still has some reorganization to go through, but, based on the share price and if it can get a hold on their finances, it should be a good opportunity for investors.
KushCo Holdings is another stock that is worth keeping track of. One of the main reasons the company has been struggling is that its line of vaping products was very popular, but it suffered a decrease in sales due to the controversy surrounding certain vaping products. The fear towards these products should be fading away in the near future, which can take KushCo back on track.
Lastly, Curaleaf Holdings has been in the market for a longer time and it has been considered a promissory company since then. On Tuesday, it presented its end of quarter results for the fourth quarter, and the company managed to grow in revenue by 22%. Curaleaf could be a great option since it just announced the acquisition of three more dispensaries in Connecticut, where there are only 18.