Another year of investing is ahead of us and the next months are a turning point for the cannabis industry. After years of battling the stigma, it has finally been able to amass support from the public and political figures. Investors should begin setting their eyes on a few hemp stocks while the market is still bracing for growth. Most of these companies will experience tremendous growth.
Another year of investing is ahead of us and the next months are a turning point for the cannabis industry. After years of battling the stigma, it has finally been able to amass support from the public and political figures. While marijuana stocks are hot in Canada after the approval of the Cannabis Act in October, it is hemp that will keep the stock markets busy after U.S. President Donald Trump signed the 2018 Farm Bill last December.
Here are some top U.S. hemp stocks to look out for in 2019.
Cresco Labs Inc.
Cresco Labs Inc. (OTCMKTS:CRLBF) only began offering its stock last Dec. 3, but that’s what makes the stock such a good buy. Since opening, the company went from $4.96 to $6.75. The company has showcased positive movement since being traded, so it is a great opportunity for investors to buy low and sell high.
The Chicago-based company is one of the largest integrated multi-state cannabis operators in the U.S. with facilities in Illinois, Ohio, Pennsylvania, Nevada, California, and Arizona. It is currently working on permits to operate in New York, Massachusetts, and Maryland. Furthermore, the company will expand itself with plans of acquiring Hope Heal Health Inc. which can up its production numbers.
Hemp Inc. (OTCMKTS:HEMP) is possibly the cheapest buy on the stock market currently. It is trading at $0.038, but with the Farm Bill carrying good news for the hemp industry, experts are expecting the company’s stock to surge in the next months as it begins to support the growing demand for hemp in various parts of the U.S.
Since the approval of the Farm Bill, Hemp Inc. has expressed its willingness to offer eco-friendly, organic, and healthy solutions to interested producers nationwide. The company also has solid footing on the production end of the market as its wholly-owned subsidiary Industrial Hemp Manufacturing, LLC recently purchased a massive 70,000-square-foot warehouse in Spring Hope, North Carolina.
Scotts Miracle-Gro (NYSE:SMG) is still primarily a consumer lawn and garden products business. However, thanks to its Hawthorne Gardening subsidiary, the company is able to play a part in the booming hemp industry as well. The company is trading at a relatively high $61.46, but the price will pay off because of the Farm Bill.
Hawthorne targets the market for gardening in California. Since it is also the largest market for hemp and cannabis in the U.S., local growers are going to support the brand’s easy-to-use and efficient gardening products. Now that hemp is federally legal, the company can get more supporters from its target market.
Now is the right time for investments
Investors should begin setting their eyes on a few hemp stocks while the market is still bracing for growth. It is hard to tell when the boom in the stock market will arrive, but what’s guaranteed is that most of these companies will experience tremendous growth in the following months.
(Featured image by geralt)