Though 2018 is not quite to the halfway point yet, it is worth examining some of the better marijuana stocks from the first part of the year. While pot stocks have seen some volatility throughout the early part of 2018, these top picks have all managed to continue to strengthen their brand and their standing in the industry. And while cannabis stocks may be overvalued right now, intertest is still how in this growing sector.
Here are the top five marijuana stocks of 2018, so far:
Cronos Group Inc.
Cronos Group Inc. (NASDAQ:CRON) (TSX-V:CRON) made news this year when they became the first Canadian weed stock to list on the Nasdaq exchange. They are a diversified company with global holdings, operating two wholly-owned Canadian Licensed Producers regulated under Health Canada’s Access to Cannabis for Medical Purposes Regulations, Peace Naturals Project Inc., and Original BC Ltd.
What really put them over the top this year was when they recently announced a deal with Los Angeles based MedMen, one of the largest retailers of legal cannabis in the U.S. Together they created MedMen Canada Inc., a joint partnership split evenly down the middle that will bring the MedMen brand into Canada via new products and retail stores.
At first glance, this struggling company does not seem like a top pick, after all, Aphria Inc.(TSX:APH) (USOTC:APHQF) is a company that just cannot seem to catch a break. However, when they announced this year that the recently acquired Nuuvera Inc. would be renamed Aphria International Inc. and remain a wholly-owned subsidiary of the company, it piqued the interest of many investors. This new entity will focus on the international market, looking at legalized cannabis in Germany, Italy, Spain, Portugal, Malta, Australia and Lesotho.
The move towards international markets should keep them churning away as one of the industry’s top companies. Even more, it is hard to see how a company as well run as Aphria could continue to have such bad luck.
CannaRoyalty Corp. (CSE:CRZ) (OTCQX:CNNRF) is without a doubt the most diversified pot stock on the market today. They have numerous holdings across the United States and Canada. But, it is the company’s focus on the California market this year that makes them one of 2018’s best picks. It is a smart move, as the West Coast state is a larger market than the whole of Canada. Recent acquisitions of River Corp. and Kaya and Alta Supply show the company’s dealmaking strength making this weed stock one of 2018’s top buys in an otherwise down market.
To Read The Rest Of This Article By Brandon A. Dorfman on PotNetwork
Published: May 15, 2018
Founder & Interim Editor of L.A. Cannabis News