The cannabis story has taken on a life of its own.
In 2018, Canada legalized its recreational use. Corporate America began investing in major cannabis companies. More U.S. states approved its recreational or medicinal use. The U.S. FDA approved its very first cannabis-derived drug.
On top of that, an estimated 64 million Americans have tried some form of CBD in the last 24 months, with nearly one out of seven using the compound every day, according to a Consumer Reports survey. In addition, according to The General Social Survey conducted by NORC at the University of Chicago, 61% of those surveyed support legalization. That’s up from 57% in 2016. 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, one of the most exciting stories for investors has been the push by marijuana stocks to list of major U.S. exchanges in the U.S. and abroad.
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, and Wall Street firms. Many cannabis stocks have seen their share prices run higher in anticipation of, and after, listing on a major U.S. exchange.
Some of the Top Pot Stocks to List on a Major Exchange
Cronos Group Inc. (CRON), for example became the first marijuana company to list on the NASDAQ in early 2018. “It’s very significant for the company and the whole industry,” said Mike Gorenstein, Cronos founder and chief executive officer, as quoted by Bloomberg. “It’s a huge moment -- just shows the stigma is continuing to erode on cannabis.”
Aurora Cannabis Inc. (ACB) – one of the biggest Canadian marijuana stocks – debuted on the New York Stock Exchange in October 2018. While the stock hasn’t done very well since it listed on a major exchange, investors are still encouraged by the company.
Canopy Growth (CGC) listed on the NYSE in 2018, and has since rallied from $30 to $43 a share. Making the stock even more attractive, alcohol heavyweights like Constellation Brands invested more than $4 billion in the company.
CannTrust (CTST) and HEXO Corporation are now on the NYSE.
OrganiGram Holdings (OGI) even just moved to the NASDAQ for greater exposure.
Which Stocks Will Move to a Major Exchange Next?
Charlotte’s Web Holdings (CWBHF) could be one of the top cannabis stocks to watch.
With a market cap of $1.32 billion, a healthy share price of $13, and strong average volume of 382,000 shares a day, the company stands a good chance of listing on a major exchange soon, too. Better, the company has had consistent profitability, demonstrating strong business model.
In addition, “Charlotte’s Web is one of only a few hemp CBD producers capable of supplying large volumes of high-quality hemp extract from its own supply chain that can meet significantly increasing market demand. As the category and brand leader, our goal is to increase our market share and with this bountiful harvest we are able to satisfy our customer demands for 2019 and beyond,” noted Hess Moallem, President and CEO.
Consider buying CWBHF at market prices.
The Green Organic Dutchman (TGODF)
TGODF could be one of the top cannabis stocks to move to a major exchange, too.
The company could become one of the five largest growers in Canada by peak production. Having long forecast 195,000 kilos of yearly output, TGOD somewhat recently increased its peak annual yield to 219,000 kgs. This is the company that manufactures and markets CBD wellness products, including capsules, topicals, and gels in more than 3,000 retail locations throughout the U.S. In May 2019, the company even expanded its canine-focused pet products line, launching hemp-extract infused chews, oils, and topical balms.
Consider buying TGODF at market prices.