The first stories trumpeting the business opportunities in marijuana started popping up around 2016, as ballot initiatives that year legalized recreational marijuana in California, Nevada, Maine and Massachusetts.
But if you’re looking to play this high-growth trend in less conventional ways, consider these five under-the-radar marijuana stocks. They aren’t without their risks, but they are legitimate concerns with market capitalizations of $800 million or higher. Hexo While Hexo Corp. HEXO, -3.66% hasn’t garnered the same attention as some of the bigger players, it is increasingly on many pot-stock investors’ radars. That’s not simply because of its relatively reasonable valuation compared with overbought peers, either.
Innovative Industrial Properties The marijuana craze isn’t just about investing in stocks that grow plants. Consider Innovative Industrial Properties IIPR, +2.05% a publicly traded REIT that is designed as a way to capitalize on marijuana-related real estate. Aphria Aphria Inc. APHA, +7.12% APHA, +5.60% isn’t quite as popular as some of the other marijuana names, mostly because it is specialized on medical cannabis and related products. Amid all the hype about booming recreational pot use, the idea of serving primarily patients and health professionals isn’t as interesting to many investors.
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