These Cannabis Stocks Could Soon Make the Move to a Major Exchange
Cannabis has become the biggest story of the decade.
Not only did Canada approve its use in 2018, the U.S. government has become aggressive in its attempt to legalize its use. Corporate America has just begun to jump on the bandwagon.
It’s even disrupted some of the biggest industries on the planet. Everything from food and beverage to health and wellness has been impacted. Even retailers are rushing to stock their shelves with cannabis products.
The best part – support for cannabis legalization is exploding.
In the U.S., 61% of the country supports the legalization of cannabis, according to the General Social Survey conducted by NORC at the University of Chicago.
A Gallup survey found that 66% of Americans are in favor of legalization. That’s up from just 60% in 2016. A Pew survey found that 62% of Americans want to see cannabis legalization in the country, as compared to just 57% in 2015.
Better yet, analysts are just as excited about growth.
For example, the Brightfield Group says worldwide cannabis sales are expected to soar from $591 million in 2018 to as high as $22 billion by 2022. Analysts at Arcview Market Research and BDS Analytics foresee worldwide sales surpassing $55 billion by 2024.
Even Piper Jaffray says the market could be worth up to $100 billion.
All of that has been a major catalyst for cannabis investors.
But there’s another catalyst that some investors may be overlooking…
One of the most exciting stories for investors has been the push by marijuana stocks to list of major U.S. exchanges.
By doing so, cannabis companies draw bigger investors, including institutional investors that aren’t often able to invest in OTC-listed stocks. While there’s nothing wrong with listing on the OTC, a major exchange offers a bigger audience of potential investors.
While we’ve already seen Canopy Growth, Aurora Cannabis, and Cronos Group get added to major exchanges and run higher, there are other bright stocks that could soon make the move, too. Some of those could include:
Charlotte’s Web Holdings (CWBHF)
Charlotte's Web Holdings, Inc. produces and distributes hemp-based, cannabidiol wellness products in the United States. It offers products in the categories of tinctures, capsules and topical products. Charlotte's Web Holdings, Inc. distributes its products under the Charlotte's Web name through its e-commerce Website, as well as wholesalers, and retailers.
At the moment, Charlotte’s Web Holdings trades around $18 a share with daily average volume of 597,986 shares. However, we strongly believe the stock could make its way to a major exchange, as of the standout stocks of the industry.
We also have to remember that Charlotte’s Web CBD products will soon be in twice as many stores as it was last year at Kroger and CVS. Kroger, for example, will carry Charlotte’s CBD products in 1,350 stores in 22 states shortly.
Green Growth Brands Inc. (GGBXF)
Green Growth Brands Inc., together with its subsidiaries, engages in the cultivation, processing, production, distribution, and retailing of cannabis and cannabis-infused products in the United States. The company offers cannabis, tetrahydro cannabidol, cannabidiol, and cannabis-infused consumer products, as well as technology and consulting services for the cannabis industry.
What we like most about GGBXF is how quickly it’s expanding in malls across the U.S.
In fact, it just announced that it opened its 100thSeventh Sense Botanical Therapy mall-based shops. “This is a huge milestone for Green Growth Brands and Seventh Sense,” said Peter Horvath, CEO of Green Growth Brands. “We believe we have created the largest and most valuable network of brick and mortar CBD shops in the country.”
Green Organic Dutchman (TGODF)
The Green Organic Dutchman Holdings Ltd., through its subsidiary, The Green Organic Dutchman Ltd., operates as a cannabinoid-based research and development company in Canada. It produces organic cannabis products, including organic dried cannabis, cannabis oils and edibles, fresh cannabis, and seeds for medical applications.
The company just applied to list its shares on the NASDAQ in recent days. It expects to be uplisted to the exchange over the next six to eight weeks. "This is an important step in the growth of TGOD, one that will broaden our investor base and increase access for international investors as we build the leading global organic cannabis brand. Our team remains focused on executing our business plan and creating value for our shareholders,” said CEO Brian Athaide.