At the end of 2018, President Trump signed a new $867 billion farm bill. This had all the support for farming and nutrition practices from the past, but there was one thing that caught the eye of people-- Legalization of cannabis!
Of course, cannabis has been legal for different states at their level, but this bill means cannabis legalization at scale. And, this scale can be enormous given the opposition towards the illegality of cannabis.
This is the reason why CBD stocks are growing ever since and will grow in huge numbers over time. Therefore, now is the right time to invest in the CBD stocks, and here are top 5 to look out for:
Charlotte's web holdings (CSE:CWEB)
It is a high-CBD, low-THC Cannabis strain marketed as a dietary supplement under the federal law.
Over the last six month, the stock price has moved from around CA$14 and has crossed CA$30. Currently, it trades around CA$20 if you want to get your hands on the CWEB. The chances of this stock going upwards are very high because there are more overweight people in America than ever. The people who invested in this stock are also known famously as The Cannabis Millionaire.
Canopy Growth (TO:WEED)
Based on market capitalization, Canopy Growth Corp. is the largest cannabis company. It sells Dried flowers, oils, capsules, and hemp in the legal markets.
In the last six months, the stock has grown from a CA$40-45 to CA$60-65. Having such dominance over the market means one thing-- This stock is only going uphill over time.
GW Pharmaceuticals (NASDAQ:GWPH)
GW Pharmaceuticals is a British biopharmaceutical company known for its multiple sclerosis treatment product nabiximols which was the first natural cannabis plant derivative to gain market approval in any country.
In a matter of the past six months, GWPH grew from around $120 to around $180. Its Market Cap. of over $66B makes it one of the stocks to look out.
Zynerba Pharmaceuticals (NASDAQ:ZYNE)
Zynerba provides next-gen. transdermal cannabinoid therapeutics to better the lives of patients hit by rare and near-rare neuropsychiatric conditions.
From around $5 to above $15, ZYNE has seen its stock grow multifold over the last six months, and hence it registers itself as one of the CBD stock to look out for.
Aurora cannabis (TO:ACB)
Aurora is a Canadian Licensed cannabis producer employing around 1600 people.
With a current market cap. of $12 Billion+, ACB grew from $6-$8 to around $12 in six months. Given the about-to-increase demand for cannabis, this cannabis producer can make it big in no time. Therefore, look out for this stock as well.
Final Words
Legalization of cannabis at nation-level instead of state-level will increase the demand for CBD products. Given people’s fondness for these products and applications in the health sector, investors will, should, and are investing in CBD stocks to see it grow.