10 pot stocks that exceeded expectations in July

Published Aug 23, 2020 01:00 p.m. ET
iStock / Darren415

Cannabis investors have been clinging to the edges of their seats since 2017, and the volatility has proven to be too much for some, but those who stayed in it for the long haul are now beginning to see some rewards. Marijuana stocks in both the US and Canada have been bouncing back from what seemed like a never-ending downward trend, but only one of those countries is seeing record-setting double-digit increases.

Mainly a US success

Canada may have once been poised to take leadership of the cannabis market, but the increases to US pot stocks in July far surpassed any Canadian companies proving that they hold much of the power, and therefore, the revenue from the cannabis industry. The country may not have fully accepted legalization at the federal level, but statewide laws have provided just enough wiggle room for US cannabis businesses to flourish.

Top 10 cannabis stocks of July

July was record-setting for some of the most prominent US cannabis companies as the top 10 pot stocks raised in value by double digits this month.

  1. Planet 13 Holdings – Up by77.9%

  2. Curaleaf Holdings – Up by 38.3%

  3. Cresco Labs– Up by 38.1%

  4. Green Thumb Industries – Up by 34.2%

  5. Trulieve Cannabis – Up by 29%

  6. GrowGeneration– Up by 23.4%

  7. Acreage Holdings – Up by 22%

  8. Harvest Health and Recreational – Up by 19.2%

  9. Innovative Industrial Properties – Up by 18.4%

  10. Canopy Growth – Up by 13.1%

Will they keep increasing in value?

If you take a good hard look at the cannabis stocks that faired the best over these last few months, then you’ll see a trend of action and very few problems with cash flow. Planet 13 just acquired a brand-new facility complete with 45,000 square feet of growing room, and Curaleaf acquired Grassroots near the end of the month which brought their total number of stores to 88.

These moves had a significant impact on the increases that took place over the course of July, and there is plenty that is already in the works for the future, which should secure a healthy amount of growth in the coming months, but we aren’t likely to see another jump quite like this one anything soon. Future levels of growth will depend on the decisions that are made moving forward, but all 10 of the cannabis stocks mentioned here are looking promising.

This is not the time to cash in your pot stocks

Investors in marijuana stocks have had a terrible time, and though the cannabis industry seems to be thriving, considering the recent implications due to COVID-19, there is still a long way to go as far as regulations before we’ll see any major payoffs. You might be seeing dollar signs and considering cashing in your pot stocks just in case they’re about to drop again, but if you stay in it for the long haul, now that the worst of the storm is over, you will be bound to see a lucrative future ahead.

What investors need to know about the volatility of cannabis stocks

Author

Related posts