These two high-profile cannabis companies have earned their spots as top stock picks

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Canopy Growth and GW Pharmaceuticals should be on every investor’s radar

It has long been clear that innovative companies are some of the most eye-catching in the eyes of investors. This is because advancing into uncharted territory could bring many profits in the future. However, many people might think that there is not much left to innovate in the cannabis industry, but this is not really the case. There are currently two attractive companies that are paying big dividends to their shareholders after tackling areas where many other companies have not yet begun to explore, which creates less competition.

The first is Canopy Growth Corporation, which has thought beyond the fact that cannabis can be simply smoked, but can also be drunk. It is in this area that Canopy has begun to grow to become the leader in the cannabis-infused beverage industry. So far, it has launched nine such products, five of which contain tetrahydrocannabinol (THC), and the remaining four are based on cannabidiol (CBD). During the most recent quarter, a large increase of 25% was achieved by these beverages, which indicates that this is a market that is starting to boom quite promisingly.

There is no doubt that investors are excited knowing that this type of product is gaining a strong position as time goes by. Canopy recently joined forces with Southern Glazer’s Wine & Spirits, a well-established distributor of alcoholic beverages. This alone indicates that the company is ready to take advantage of a multibillion-dollar industry that will help its stock continue to make incredible profits.

The other is GW Pharmaceuticals, which has had great approaches to the medicinal use that cannabis has proven to have. This company is considered the pioneer in the use of cannabinoid therapies to treat certain conditions, such as epilepsy. Epidiolex is its most important drug to date and, after only being on the market for a year, it earned the company a total of $510 million last year. GW Pharmaceuticals continues to have many projects in the medical field and there is no doubt that this industry is always very fruitful when it comes to profits.