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Top Cannabis Stocks for June 2020. Graph with marijuana plants.

Top Marijuana Stocks for June 2020

 

If you’re a cannabis investor, check out our picks for the top marijuana stocks for June 2020.

Cannabis stocks are in a whirlwind due to COVID-19. While some stocks are underperforming, others are exceeding investors’ expectations. We’ll break down which marijuana stocks you’ve got to pay attention to and which ones to be wary of.

Cresco Labs

Amidst the chaos and uncertainty, multistate cannabis operator Cresco Labs (OTC:CRLBF) is seen as a worthy bet by many investors. Cresco holds a strong market share in California after buying out Origin House in January 2020. Cresco also recently announced its intentions to buy four Ohio medical marijuana dispensaries operated by Verdant Creations.

Aphria

Canada-based Aphria (NYSE:APHA) is a medical and recreational cannabis producer. It’s a darling among investors and a top stock option if you’re looking to invest in the Canadian cannabis industry. Their intended move from the NYSE to the NASDAQ on June 5, 2020 is one of many cost-effective measures it's taking to increase its lead among Canadian producers.

Harvest Health & Recreation Inc.

Canada’s Harvest Health & Recreation Inc. (OTC:HRVSF) holds a stake in cultivation, dispensary, and production facilities in the medical and adult-use market. In March 2020, the company stated it had finished its acquisition of Franklin Labs LLC, a subsidiary of CannaPharmacy with a cultivation and manufacturing facility in Pennsylvania.

Green Thumb Industries

Green Thumb Industries (OTC:GTBIF) is one of the largest multi-state cannabis operators in the country and a popular marijuana stock. GTI holds 96 retail licenses after making a number of smart acquisitions. GTI’s growing dispensary footprint in the country makes it poised for success despite the COVID-19 pandemic.

Curaleaf Holdings

Curaleaf Holdings (OTC:CURLF) is a multistate cannabis operator in 17 states with 53 dispensaries. In February 2020, Curaleaf announced the acquisition of Cura Partners, owner of the Select brand. Curaleaf is expected to continue its year-over-year growth if it can remain lean while growing as fast as it is.

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MediPharm Labs

MediPharm Labs (OTC:MEDIF) is a Canadian cannabis extraction company that produces pure and pharmaceutical-grade cannabis oil extract. In May 2020, the company signed its first white label supply deal in Europe. MediPharms’ Australian subsidiary is set to provide Therismos, a U.K.-based pharmaceutical company, with cannabis oil products.

Scotts Miracle-Gro

Investing in cannabis’ ancillary market is an option worth considering if you’re not too keen on investing in companies that touch the plant. Scotts Miracle-Gro (NYSE:SMG) has been exceeding investors’ expectations. SMG’s momentum is due, in part, to sales from its Hawthorne business, a major supplier of products for the cannabis industry.

Trulieve Cannabis Corp

Trulieve Cannabis Corp (OTC:TCNNF) and its subsidiaries operate the cultivation, sale, and distribution of medical marijuana. In April, the company announced a new CFO, Alex D’Amico to step in effective June 1st, 2020. On May 22nd, 2020, the company announced the opening of its 48th location in the state of Florida (50 nationwide).

Tilray

Canadian cannabis pharmaceutical producer Tilray (NASDAQ:TLRY) has seen revenue growth of 125 percent in the first quarter of 2020. Tilray has stated that its revenue has not experienced any significant impact due to the COVID-19 outbreak.

Innovative Industrial Properties Inc.

Innovative Industrial Properties Inc. (NYSE:IIPR) manages real estate in the cannabis industry. The company partakes in the acquisition and management of primarily medical cannabis cultivation and production facilities. IIP owns 55 medical cannabis properties in 15 states.

Cara Therapeutics

Biotech is a leading industry focused on the pharmaceutical application of cannabinoids. Cara Therapeutics, Inc. (NASDAQ:CARA) is one of the more up-and-coming biotech companies and stocks in the industry. Cara’s main drug candidate is Korsuva, a drug to treat kidney disease-related pruritus. Most clinical trials have yielded positive results.

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Amyris

Amyris (NASDAQ:AMRS) is a notable biotech company that produces ingredients for a number of cosmetics, fragrances, and flavors. Some of their products contain cannabinoids. First-quarter 2020 revenue has seen a considerable increase compared to the expected sales numbers. The company launched a hand sanitizer product in March.

Charlotte’s Web

After the passage of the 2018 Farm Bill, hemp has been a growing industry. Charlotte’s Web (OTC:CWBHF) makes cannabidiol (CBD)-based products. Found in about 11,000 retail locations, CW holds a strong presence in the American cannabis market. Its recent acquisition of Abacus Health Products is set to increase its retail presence.

Enroll in Online Cannabis College

Choosing hot marijuana stocks isn’t an exact science. Enroll in CTU’s online marijuana training program to dive deep into every aspect of the cannabis industry. Knowing about the industry can put you ahead of the game. For the rest, find a reputable financial advisor that can diversify your portfolio and meet your needs.

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