However, the market has steadied from its post-election rally, creating attractive entry points.
Here’s a list of three marijuana stocks that have made our readers rich, plus the latest pot stock play from our renowned marijuana expert, Michael A. Robinson…
Best Marijuana Stocks No. 3: Lexaria Bioscience Corp. (OTCMKTS: LXRP)
Lexaria Bioscience Corp. provides edibles infused with hemp oil to all 50 states. In the long term, Lexaria plans to launch a hemp oil-infused protein bar as well as teas, coffees, and related goods.
We first told you about Lexaria Bioscience back in November 2016, when it was trading at just $0.24 per share.
Now, the small cannabis company is trading at $0.36 per share – a 50% increase.
And it’s poised to keep growing…
“[Lexaria’s] technology has proven to be a potential game changer in the
cannabinoid-based pharmaceuticals market, an industry that’s on course to grow to $50 billion by 2029, per data aggregated by Statista,” according to Biotech Investing News on Aug. 18.
Best Marijuana Stocks No. 2: Insys Therapeutics Inc. (Nasdaq GM: INSY)
Insys Therapeutics stock gave Money Morning readers nearly 26% gains in just 12 trading sessions after we recommended buying the stock on May 14.
In fact, we told you about this company before the U.S. Food and Drug Administration (FDA) even gave the company final approval for its new drug on May 24.
And that approval is just the beginning of big profits for our readers…
Syndros – the company’s blockbuster new drug – is positioned to be a leading player in a very large market.
Syndros is a cannabinoid-derived drug that helps fight nausea and pain.
The National Cancer Institute reports that 15 million U.S. patients were treated for cancer in 2014, and 80% of those patients experienced nausea and vomiting from chemotherapy.
And in 2015, Transparency Market Research reported that the pain market was worth over $60 billion. By 2024, it is expected to hit $83 billion. That’s more than a 33% increase.
That means Insys is well-positioned to capitalize on this $83 billion market with its latest drug.
Best Marijuana Stocks No. 1: GW Pharmaceuticals Plc. (Nasdaq ADR: GWPH)
While there’s no such thing as a 100% safe investment, we have uncovered one of the best marijuana stocks to own for risk-averse investors.
We’re talking about GW Pharmaceuticals Plc.
GW Pharmaceuticals is a biopharmaceutical company that specializes in cannabis-derived pain management drugs.
Not only has the company helped millions of people suffering from chronic pain, but it’s also made our investors very, very rich.
In fact, since the summer of 2013, its share price has risen from about $9 per share to today’s $99 price. That’s a 992.37% increase.
And we’re looking at even more gains ahead for the next year, as the company is set to receive approval to launch a revolutionary cannabis-based medicine, Epidiolex.
Epidiolex is thought to help children with childhood epilepsy and Dravet syndrome, a rare genetic epileptic dysfunction. It’s currently in its phase 3 trials – arguably the most important stage of a drug’s approval.
You see, phase 3 trials judge the efficacy and side effects of a drug before it is approved. And Money Morning Director of Technology & Venture Capital Research Michael A. Robinson is optimistic. In fact, Michael believes Epidiolex will one day be distributed to a much larger market than originally intended.
Michael is our renowned pot stock expert and one of our most prominent and respected investing “gurus” here at Money Morning – and for good reason.
He is one of the top financial analysts working today. Make no mistake: Michael’s ideas are completely his own.
He’s been a board member for a Silicon Valley venture capital firm and a senior advisor to 12 high-tech startups.
He’s also a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style.
His research is world class, too. The Oakland Tribune, Detroit News, The San Francisco Examiner, The Kansas City Times, Wealth Magazine, and American Banker have all published his reporting. He’s even appeared on Larry King’s syndicated radio show and is a regular guest on CNBC‘s “The Rundown” and FOX Business Network‘s “Cavuto: Coast to Coast.”
And he believes mega profits are on the horizon for GW Pharma.
By 2030, more than 20% of U.S. residents are projected to be aged 65 and over, compared with 13% in 2010 and 9.8% in 1970.
“We’re at the beginning of a sea of change in how we treat chronic pain, shifting from opioid-based medications to cannabis-based ones,” said Michael.
“And with first-mover advantage, we’re in the perfect spot to profit.”