The cannabis sector is finally starting to heat up again. While the sector heats up, many investors are looking for cannabis stocks that are worth watching. Here are my favorite three at the moment:
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Top Cannabis Stocks To Watch
As mentioned above, cannabis stocks are heating up. Of course, as when any other sector heats up, there will be some winners and some losers here. Some of my favorite stocks in the sector at the moment include:
Amyris (NASDAQ: AMRS): Cannabis In Medicine
Amyris is an industrial biotechnology company. The company is most well known for producing high performance products for health and wellness, clean beauty, and flavor and fregrance markets.
Nonetheless, AMRS is working its way into the cannabis sector. In fact, more and more of the company’s product lineup includes cannabis in production. This ultimately exposes the stock to the sector with diversification in other areas offering a bit of a safety net.
Importantly, in a recent statement, President and CEO of AMRS, John Melo, said that the company’s sales remain strong, even in the face of COVID-19. This led to excitement and the stock has been moving in the right direction as of late.
Veritas Farms (OTCMKTS: VFRM): A Revenue Growth Story
Veritas Farms works on the hemp side of the sector, owning a seed to sale company, which includes a 140 acre farm and production facility.
Recently, VFRM announced its financial results from 2019, showing incredible growth. In fact, revenue, inventory, cash on hand and more grew by more than double.
Moreover, the company recently decided to use its manufacturing capabilities to help in the fight against the COVID-19 pandemic, entering a partnership to produce and sell hand sanitizer.
Not to mention, the company’s retail footprint is growing, with its CBD products in more than 7,500 retail locations as of late. All of this makes VFRM a stock that should not be ignored.
Tilray (NASDAQ: TLRY): Price To Sales Suggests Undervaluation
Tilray is one of the larger Canadian companies in the cannabis space. The company has products throughout canada and a strong international sales campaign.
Recent revenue growth and efforts to continue expanding globally are impressive. However, what’s more impressive is the company’s price to sales ratio.
In fact, Tilray currently trades with a price to sales rati of under 6. That’s about half of what we see across the sector, suggesting a serious undervaluation.
The Bottom Line
The bottom line here is simple. The cannabis sector is heating up, and as it does, picking the right stocks in the sector could be incredibly lucrative news. The three stocks mentioned above are my favorite picks. What are yours? Share your opinion in the comments below:
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