Well, I am hanging in there now. There is too much potential here. Even Zacks thinks this stock will at least double (see below) At the minimum the deal with coors should send this thing well into the multi dollar range.
"Is it Time to Buy Cannabis Stocks?
Many of the stocks plunged when the stock market plunged in February and March on coronavirus fears.
Has that created a buying opportunity in some of the shares?
Growers and Pharmaceuticals
Many investors have focused on the Canadian cannabis growers the last few years. But the pandemic has caused a shake-up among the companies with several doing layoffs and cutting expenses.
Some intriguing places to look for deals are in pharmaceuticals.
1. Canopy Growth CGC shares have fallen 46% over the last 2 years and are still down 16% year-to-date. It’s making beverages and chocolates. Is it time to buy?
2. Aurora Cannabis ACB recently announced more lay offs and is closing operations at 5 smaller facilities. It’s also taking a $140 inventory charge. Shares are down 45% year-to-date. Is the worst priced in?
3. Hexo Corporation HEXO is a Canadian grower trading under $1. Many investors love that but that increases the risk. It has a $314 million market cap, however, and is a play on beverages due to a joint venture with Molson Coors.
4. GW Pharmaceuticals GWPH has the first FDA approved cannabis drug which is approved for some rare forms of epilepsy. Sales are expected to rise 82% this year and the company is forecast to see positive earnings as soon as 2021. Shares are up 19% year-to-date. Is it too late to get in?
5. Zynerba Pharmaceuticals ZYNE is a micro-cap biotech that has no revenue but has cannabinoid therapeutics addressing autism disorders. Shares are up just 3% year-to-date. Is this a buying opportunity?
What else should you know about the marijuana stocks in 2020?
Listen to this week’s podcast to find out.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
GW Pharmaceuticals PLC (GWPH): Free Stock Analysis Report
Zynerba Pharmaceuticals, Inc. (ZYNE): Free Stock Analysis Report
Canopy Growth Corporation (CGC): Free Stock Analysis Report
Aurora Cannabis Inc. (ACB): Free Stock Analysis Report
HEXO Corp. (HEXO): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research"
