3 Best Marijuana Stocks with Great Gains in April
Great gains for these top marijuana stock performers this year.
Conversely, 2019 was the worst year for marijuana stocks. Cannabis industry companies like Liberty Health Sciences, Tilray, and Aurora Cannabis, are among many marijuana stocks which are down 50-90% in value over the past twelve months.
The same goes for many marijuana ETFs which represent the overall condition of the entire sector. However, there were 3 marijuana stocks with great gains in April 2020.
This is the result of continued, industry-wide, adversity in both the USA and Canada. Canadian LPs continue to wrestle with rampant regulatory issues from Health Canada causing supply shortages and supply chain bottlenecks.
Meanwhile, US-based marijuana companies continue to compete with black-market sales while having limited access to anything but non-traditional forms of financing.
However, amidst all these challenges, these 3 marijuana stocks gained more than 33% in April:
Great Gains in April: Neptune Wellness Solutions
Neptune Wellness (NASDAQ: NEPT) is an extraction service provider with a 50,000 SF facility in Quebec and a 24,000 SF facility in North Carolina which offers state of the art extraction and product development. We like extraction service providers as the plant extracts they produce and sell command a much higher margin than cannabis flower alone. Plant extracts are used in product formulations to produce marijuana edibles, vapes, and topicals. Neptune got a 79% bump in April after it announced plans to increase hand sanitizer production at its North Carolina facility due to increased demand from the COVID crisis.
Great Gains in April: Harvest Health and Recreation
Harvest Health & Recreation Inc. (OTC: HRVSF) is one of the larger, vertically-integrated US Multi-State Operator (MSO) cannabis companies. It is listed in Canada but is based in, cultivates, processes, and retails in the United States. It has an aggressive growth strategy. It currently operates 13 stores in 5 states, most of them in their home state of AZ.
Marijuana stock investors are becoming more optimistic about these large US-based MSO cannabis companies as there seems to be an easier path to profitability than cannabis companies in Canada. In fact, several other US-based MSOs are up this quarter, including Curaleaf, Green Thumb Industries, and Planet 13 Holdings. Penny pot stock Harvest Health just happened to see a nice 45% bump in value at the end of April.
Great Gains in April: Cresco Labs
Cresco Labs Inc.(OTC: CRLBF) engages in the business of cultivating medical-grade cannabis, manufacturing medical products derived from cannabis cultivation, and distributing such products to medical or adult-use consumers. Much like Harvest Health and Recreation, Cresco’s multi-state presence is attractive to investors and, although they’ve seen a splendid 33% bump at the end of April, the last week has wiped out most of the gains. However, this stock is still trading below book value. Although there will be plenty of short term volatility, we believe the long term outlook for this stock should not be overlooked.
Is it too late to invest in these marijuana stocks?
In short, no! These three cannabis companies have a future much brighter than their April 2020 gains. Our analysts believe that the stock prices of these marijuana stocks will continue to increase given the explosive growth potential of these cannabis companies.
But be careful, although most marijuana businesses have been deemed as essential during the current COVID crisis, be aware of high levels of volatility for most marijuana stocks in the short term.
Feel free to check out our Featured Companies and Marijuana Stock Reports page to find a more comprehensive analysis for these marijuana stocks. At Cannin, our goal is to help you make informed marijuana stock investment decisions. 2020 will undoubtedly be much better for marijuana stock investing than 2019 was. Happy investing.
3 Best Marijuana Stocks with Great Gains in April
About Cannin: Your Marijuana Investment Experts
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