Although 2019 was not a great year for cannabis stocks, there were some that did very well considering the ups and downs that most cannabis stocks went through. Here are the top 7 cannabis stocks of 2019.
MediPharm Labs (OTC:MEDIF) had a wonderful 138% return in 2019. MediPharm had two straight quarters in the green.
MediPharm is nearly at 500,000 kilos in annual processing capacity and will be producing huge amounts of products as the years go on. MediPharm is a Canadian cannabis company.
Planet 13 Holdings
Planet 13 Holdings (OTC: PLNHF) was the largest gaining pot stock in the US for 2019 with 80% gains.
Planet 13 has a large 112,000 square foot cultivation and retail operation in the Las Vegas strip.
The company even has plans to make it a place you can stop by for weed, pizza, coffee, and shopping.
Village Farms International
Village Farms International (NASDAQ: VFF) is a cannabis, hemp, and vegetable producer. They along with some joint ventures has harvested 625 acres of hemp and plans to sell the biomass throughout 2020. The company was up 91% in 2019.
Innovative Industrial Properties
Innovative Industrial Properties (NYSE: IIPR) was up 67% in 2019. Their business focuses on acquiring cannabis cultivation and processing companies than leasing assets out to companies who want to grow and process marijuana in them.
It now has over 45 properties in its portfolio in 14 different states.
Trulieve Cannabis was up 47% in 2019. Trulieve generated close to $24 million in operating profit in 2019.
Trulieve is focusing on the Florida market, and has already opened 40 cannabis dispensaries in the Sunshine State. Trulieve operates on the OTC at TCNNF.
The Valens Company
The Valens Company had an incredible 138% return in 2019 and wins the award as the best cannabis stock of 2019!
Valens is an extraction-services company dealing mainly with cannabis resins, cannabis distillates, cannabis concentrates, and cannabinoids.
Harvest Health & Recreation Inc.
Harvest Health & Recreation Inc. is a medical marijuana company that focuses on growing marijuana, operating dispensaries, and cannabis production facilities.
What’s Next for Cannabis Stocks in 2020
The future for cannabis stocks looks bright. Marijuana is the fastest growing industry in the North America. Many investors are looking at cannabis to make huge returns for years to come.
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