Top Marijuana Stocks for October 2020

Top Cannabis Stocks for October 2020. Closeup of a cannabis plant.Top Cannabis Stocks for October 2020. Closeup of a cannabis plant.

Top Marijuana Stocks for October 2020

Get ready for the top marijuana stocks for October 2020. Most of these stocks we’ve covered before. Recent developments have kept these weed stocks at the top of our list. Despite the effects of the COVID-19 crisis, these pot companies have posted big profits. While some industries suffer, the weed industry, as a whole, is making strides. If you’re ready to invest in weed, check out these promising pot stocks.

Aphria (APHA)

Aphria is one of the industry’s best well-kept secrets. At a value share price, it boasts rising earnings and decreasing operating losses. Expansion in Canada. Multi-year supply agreements in Israel. EU GMP certification in Malta. Everything looks good with Aphria. Get this pot stock at a great price while you can.

Curaleaf (CURLF)

Curaleaf is one of the country’s main multi-state operators. Its retail market dominates in the Northeast. It operates out of 23 states. Apart from earning major profits, it has big plans to expand its retail and product footprint. Its acquisition of MSO Grassroots gives it a leg up over other MSOs. A recent deal with actor-comedian Jim Belushi aims to produce a limited-edition vape product.

Cresco Labs (CRLBF)

Cresco’s retail and wholesale model has worked. Vertical integration has been key to its success. It gives the company more control of the supply chain. It has come in handy during the COVID-19 pandemic. Despite the pandemic, it managed to grow sales in every market, except for Massachusetts. The state closed down adult-use sales during the health crisis. We think it can weather the current storm better than most weed companies.

Green Thumb Industries (GTBIF)

Green Thumb Industries runs 48 cannabis stores. It also has an extensive line of consumer packaged goods. In each segment, GTI has done wonders. Its growth in its home state of Illinois is especially impressive. It opened its eighth store in the state due to the big demand. Its success in other major markets ensures it to be a runaway success.

Trulieve (TCNNF)

Truelieve has seen big gains in Florida. It accounts for about half of the medical pot sales in the state. The same approach is being tested in Massachusetts, Connecticut, and California through acquisitions. Despite heavy competition in these states, Trulieve has plenty of cash to spend. If it can carve itself a niche in these markets, it can continue its upward trend for many years to come.

Innovative Industrial Properties (IIPR)

Innovative Industrial Properties has posted big share gains. Its real estate investments have paid off. Recently, it bought a property in Lakeland, Florida. The large-scale facility will be capable of handling greenhouse indoor growing and production. It’s just the latest from a string of property purchases over the past couple of years. Its focus is on partnering with medical weed operators. In some cases, it buys the property and leases it back to the operator.

GW Pharmaceuticals (GWPH)

GW Pharmaceuticals is a leader among pharmaceutical pot stocks. GW’s claim to fame is its Epidiolex drug. The drug treats rare forms of epilepsy and other seizure disorders. FDA approval has earned it a boost in stock price over the past few years. Despite the recent dip in share price due to the pandemic, its sales numbers have been up year over year. Plus, Epidiolex’s approval by the European Commission sets the stage for success overseas.

Valens (VLNCF)

Valens is a weed extraction service provider in Canada. After Cannabis 2.0 started in the Great White North, Valens’ profits shot up. The pandemic’s effect on the company’s stock price makes it a value buy for penny stock buyers. The company recently announced the launch of a weed-infused beverage, Summit 10, under a white label agreement with A1 Cannabis Company. The THC lemonade iced tea is the third addition to the beverage line.

AbbVie (ABBV)

AbbVie’s pharmaceutical and biological products have shot its stock to high share prices. Its best-selling drug, Humira, is facing stiff competition after its patent expired in 2018. Despite international profit loss, it has been able to keep a large portion of the market share due to discounts and consumer trust. After creating and selling the FDA-approved Marinol drug, AbbVie has used its synthetic formulation of THC to create new drugs.

GrowGeneration (GRWG)

GrowGeneration is on track to be one of the top-performing pot stocks of the bunch. Since its initial public offering (IPO) in late 2016, investors have multiplied their share price sixfold. As a supplier of hydroponic growing equipment, it has a strong hold of the indoor growing market. However, if weed is legalized at the federal level, it would face greater competition. It has shown promise, but can it survive legalization?

Online Cannabis Education

The pot industry is the fastest-growing industry in the country. Get ahead of the competition by enrolling in CTU’s online weed college. Our curriculum goes over every major aspect of the industry. That way, you make informed decisions when buying pot stocks or starting a cannabis career. Ready to make the big move? Join thousands of alumni by enrolling in CTU’s online cannabis college.

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