There are already several high-performing marijuana stocks on the NASDAQ today, and some investors are already wondering, which will be the first to reach $1 billion in market capitalization?
Over the last couple years the marijuana industry has been growing like a– well– growing like a weed!
According to Forbes Magazine, at the marijuana industry’s current rate of phenomenal growth (even faster than the dot com boom of the 2000s), we can expect to see legal marijuana business sales north of $20 billion by the year 2021 just five years from now.
U.S. public opinion in favor of legal marijuana is more robust than ever and on an upward trend while 29 states have legalized medical marijuana and several of them like California, Colorado, Alaska, and Washington have legalized it for recreational consumption.
As the inevitability of legalized marijuana businesses nationwide becomes more and more apparent, and as marijuana business sales take off into the stratosphere in 2017, there’s already chatter out there about which marijuana business stock will be the first to top a $1 billion valuation.
The Motley Fool, a multimedia financial services company that employs 300 people in Alexandria, Virginia, providing financial and investment advice since 1993, has raised the question and says the five marijuana stocks most likely to hit that big triple comma stock valuation are:
1. GW Pharmaceuticals (NASDAQ:GWPH) – A cannabinoid-based drug developer that currently has the highest market cap by far of any marijuana stock.
2. Corbus Pharmaceuticals (NASDAQ:CRBP) – It’s more of a high-risk, high-reward stock than GW Pharmaceuticals, because if one specific clinical trial for a synthetic oral endocannabinoid-mimetic drug goes its way, Corbus could leap to $1 billion in annual sales with a medical marijuana treatment for cystic fibrosis, which is notoriously difficult to treat.
3. Canopy Growth Corp. (NASDAQOTH:TWMJF) – A Canadian producer and retail seller of medical marijuana products and oils. (Medical marijuana has been legal in Canada since 2001.) Canopy just completed its acquisition of Mettrum Health earlier this year, and got a 472,000 square foot facility for it that includes its current corporate headquarters, plus access to more medical marijuana patients.
4. Aphria (NASDAQOTH:APHQF) – Aphria is one of Canopy’s biggest competitors, and holds the distinction of being one of the most consistently profitable marijuana stocks after reporting five consecutive quarterly profits.
5. Aurora Cannabis (NASDAQOTH:ACBFF) – Aurora Cannabis has been light on profits lately, but only because of an aggressive round of expansion-based spending, which it says will increase its marijuana plant production capacity nearly ninefold, after investing in creating the most technologically advanced automated cannabis-grow facility in the world.