Wall Street is aglow with the prospect of more and more cannabis companies trading shares on public markets. Investors have longed for the opportunity to put their money to work in companies that produce and sell cannabis and cannabis-related products. However, this has not been possible until fairly recently as parts of the United States and Canada have relaxed restrictions against the substance. Now the door is more open than it ever has been for cannabis companies to come out of the shadows and be recognized as legitimate business enterprises. They are wasting no time doing so.
What Are Some Of The Companies Currently Available?
Many cannabis companies have names that you may not have heard of due to the infancy of this industry being allowed to trade shares on public markets. Investor’s Business Dailyrecently posted a list of the cannabis companies that trade on U.S. stock exchanges that they have ratings for:
IBD only has ratings for marijuana companies in Canada trading on the big U.S. exchanges. As of August, those marijuana stocks were Cronos Group(CRON), Canopy Growth(CGC), Tilray(TLRY), Aurora Cannabis(ACB), Aphria(APHA), CannTrust(CTST), Hexo(HEXO) and Organigram(OGI). Sundial Growers(SNDL) went public at the beginning of August.
As you can see, a number of companies have piled into the markets all at one time. They didn’t want to miss out on their opportunity to sell shares to the public. There is a bounty of stocks to choose from, but how do you know which ones to place your money?
Which Cannabis Stocks Can I Trust?
Knowing which stocks you can put your money in and expect it to grow is essentially the million-dollar question that we would all like the answer to.
