Expect great things from the cannabis stock market in 2019
Americans and Canadians have a long history of being attracted to the stock markets. It’s how most people in the two countries prepare for the future and develop a nest egg or, on some occasions, generate a considerable amount of wealth. It isn’t surprising, then, that investors in both the U.S. and Canada would be ready to jump on the marijuana stock market train and take a ride as the markets continue to head north. The attraction to marijuana stocks has already been strong and 2019 is going to prove to be a breakout year, with prices pushing even higher.
Several companies have the potential to stand out above the rest. There’s not much need to talk about Aurora Cannabis or Canopy, as those are names that appear in relation to marijuana like Coca-Cola and Pepsi relate to soft drinks. Other companies, however, are going to be right beside them, leaving their mark as the frontrunners in the marijuana stock market.
Next Green Wave (NGW), which is traded on the over-the-counter OTCMKTS exchange under the ticker symbol NXGWF, has seen substantial growth in the past couple of months. Two months ago, it was trading at a low of $0.22 and is now up to $0.46. The company’s CEO, Leigh Hughes, recently stated that NGW is expanding on target with its goals and that it “is focused on producing and commercializing medical cannabis throughout Columbia.” He added, “[As] we know to be able to provide premium product into the market, you need to have a strong skillset. Organic Medical Growth saw Next Green Wave as a great pioneer to complement their nursery and manufacturing skills.”
GW Pharmaceuticals is undoubtedly a strong target. It is the company behind Epidiolex, the famed cannabis-based epilepsy drug that was given a blessing by the Food & Drug Administration (FDA). It was the first time the FDA ever recognized cannabis as having a legitimate purpose.
GW is an ancillary company, not dealing directly with cannabis products. However, Epidiolex gives it as strong a connection as any and it has seen phenomenal growth in the past two months. The company is traded on NASDAQ under the ticker GWPH and its low point occurred on December 27 when it closed at $94.36. It has now risen to $150.49.
While investing in marijuana stocks isn’t always easy, mostly due to federal restrictions, there are still opportunities. As the U.S. federal government begins to look at cannabis regulations, be prepared to strike when the light turns green.
