2 Smokin’ Hot Pot Stocks To Put On Your Radar

These 2 marijuana stocks have been sparking a lot of headlines recently, and both look like great buys now.

After a wild 2018, pot stocks had a red-hot start to 2019. But over the past couple of months, marijuana stocks have cooled off a bit as weaker-than-expected earnings from some of the biggest names in the industry took a toll on the group.

Novice Traders Earn $86 Million In 5 Years Using This Blueprint 

Skeptical? Consider this: a small group of novice traders used this blueprint to earn $86 million in 5 years. It’s so easy to use that anyone regardless of age, gender, background, or education can follow it and potentially earn a fortune in the stock market. Learn this blueprint NOW and start using it immediately to eliminate all of your financial worries forever. [ad]

Click here for your money making blueprint

But even as the industry’s sky-high valuations have begun to fall, there are a couple of pot stocks worth keeping an eye on that have sparked headlines recently.

The first is MedMen Enterprises (OTC: MMNFF). MedMen made headlines this week after it announced it had received an additional $30 million equity investment from Gotham Green Partners with participation from Wicklow Capital. 

The California-based company said this new investment brings its total financing commitment to $280 million.

“Both Gotham Green and Wicklow have shown continued confidence in our strategy and recognize the potential ahead,” said Adam Bierman, MedMen’s co-founder and CEO.

MedMen currently has licenses for up to 86 retail stores across the U.S.—37 of which are operational—and this new financing will help the company focus in on strategic markets such as Illinois, where the company anticipates having 10 stores after the state moves from a medical marijuana market to a recreational-use state in 2020. 

The investment will also help the company gain ground in Florida, where the company plans to open an additional 11 stores this year.

“MedMen’s strategy, brand and performance makes them the clear leader of cannabis retail in the U.S. and we are supportive of management’s vision and plan for growth and profitability,” John Adler, managing member of Gotham Green Partners, said in a statement. “As their primary capital partner, we will continue to support the Company as they bring their iconic brand to new markets.”

Analysts are bullish on the stock, and rate it a Buy. Their average price target for MedMen is $8, suggesting possible upside of 236% over the next twelve months.

The other pot stock that’s made headlines over the last couple of weeks is industry-leader Canopy Growth (NYSE: CGC).

Last week, news broke that co-CEO Bruce Linton had been “terminated” from the Canadian pot company he founded six years ago.

On the news, shares of the industry heavyweight slumped as much as -8% last Wednesday and are down nearly -14% for the month. However, Canopy Growth is up 38% so far this year, and the company is in the best position to win in the marijuana space with a new leader at the helm.

That’s according to Constellation Brands (NYSE: STZ) CEO Bill Newlands, who said that the “board was uniform. We were unanimous that we needed a different leader to take us to the next phase of growth.”

Constellation Brands owns a 38% stake of Canopy Growth after an investment of $4 billion into the company. And Newlands believes the company is in a position to dominate what could amount to a $200 billion market.

While Linton’s departure was shocking to many, a fresh set of eyes could help take Canopy Growth to the next level. 

The company is likely to attract top CEO talent considering its leadership in the industry. And if the company can land a CEO with a proven track record of global success, then the stock could be in for a long-term rally making now a great time to buy after the sell-off seen the last two weeks.

Nine analysts rate CGC a Buy, and their average price target for the stock is $59.80 – 61% higher than Thursday’s closing price.

There are risks inherent in all investments, which may make such investments unsuitable for certain persons. These include, for example, economic, political, currency exchange, rate fluctuations, and limited availability of information on international securities. You may lose all of your money trading and investing. Do NOT enter any trade without fully understanding the worst-case scenarios of that trade. And do NOT trade with money you cannot afford to lose. Past performance of an investment is not necessarily indicative of its future results. No assurance can be given that any implied recommendation will be profitable or will not be subject to losses. Information provided by the Company is not investment advice. The Company is not a registered investment adviser, stock broker, or brokerage. You agree that the Company does not represent, warrant, or take responsibility that any account will or is likely to achieve profit or losses similar to those shown. Examples published by the Company are selected for illustrative purposes only. They are not typical and do not represent the typical results of all stocks within the Company’s software or its individual scans and searches. No independent party has audited any hypothetical performance contained at this Web site, nor has any independent party undertaken to confirm that they reflect the trading method under the assumptions or conditions specified.