3 Pot Stocks to Avoid Like the Plague in August fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
By Nancy R. Fernandez
The mainstream has seen a significant surge in CBD products since the Farm Bill’s passing in December 2018. Now, these products are available for purchase in retailers such as Walgreens, CVS, and Kroger.
According to predictions made by BDS Analytics, a cannabis market research firm based in Boulder, CBD sales should surpass $20 billion by 2024. So how do you take advantage of this boost by investing in CBD stocks? A Beginners Guide to Cannabis or CBD is a must-read before proceeding.
Here are seven top CBD stocks to buy for the remainder of 2021.
Tilray (NASDAQ:TLRY)
The IPO of Tilray hit $300 on an intra-day, which is very remarkable for a CBD stock and set the company up for an impressive start. In the case of TLRY, the rest of the road has been so smooth since it flew so high.
Aurora Cannabis (NYSE:ACB) could be some of the biggest winners if (or, when) the U.S. pot market opens up.
Image source: Getty Images.
1. Canopy Growth
Canopy Growth has partnerships set up so that it can start working on expansion almost immediately after legalization takes place. One of the first things it would be able to do is close on its acquisition of
Acreage Holdings. Although the two companies came to an agreement in 2019, the transaction is still pending. The multistate operator has a footprint in 13 states with 29 dispensaries that are up and running. In 2020, it reported sales of $114.5 million, which rose 55% year over year. With Acreage Holdings, Canopy Growth would be ready to rival big names like
Mar 9, 2021 at 6:50AM
Cronos Group (NASDAQ:CRON) released its fourth-quarter results on Feb. 26 for the period ending Dec. 31, 2020. The cannabis producer had some mixed results; it generated sales growth, but losses continued to mount. And down 21% over the past month, investors have been bearish on the stock it has performed worse than the
Horizons Marijuana Life Sciences ETF, which has fallen by 14% during that time.
But before you decide whether to buy the pot stock on the dip, it s important to take a closer look at the earnings report to see just how well the business is doing. Here are the five of the most surprising numbers from Cronos recent results.