What goes down, must come up. The direction that pot stocks have taken since the start of October proves that this (slightly altered) axiom is true. After months of consecutive losses, the cannabis industry is showing signs of the long-awaited resurrection today.
According to the Pot Stock News Index for Canada, pot stocks have jumped from a low of $46.46 to the current price of $48.93. Rich breaks down the news with a quick observation:
“It’s all the small [companies] that are up today,” notes Rich. “The big boys are in the red a little, but it’s the little guys that are showing green.”
Pot Stocks Gaining: National Access Cannabis
So far in October, National Access Cannabis Corp. (TSXV:META) (OTCPK:NACNF) stock has grown 20%, rising from $0.34 at the start of the month to $0.41 today.
“META is climbing up, you guys. It’s one of the most undervalued, underappreciated, underexposed pot stocks on the planet,” says Rich.
Recently, the company participated in a panel at the Eight Capital & Cassels Global Cannabis Conference. This conference was held on September 19, at the Shangri-La Hotel in Toronto. Throughout the event, representatives from the company met with institutional investors.
Clearly, those representatives were able to encourage faith in National Access Cannabis, as META stock has been one of the serious winners of October thus far.
Pot Stocks Gaining: Trulieve
Trulieve Cannabis Corp. (CSE:TRUL) (OTCQX:TCNNF) is one of the great success stories of the cannabis sector. You can’t say it wasn’t expected, though, because for the last three months, Rich has named Trulieve number 1 on his list of top cannabis stocks to watch.
“The biggest and the best, these guys are growing, as predicted,” says Rich. “I’ve been telling you they’re my number one pick.”
Since the beginning of the month, TRUL stock has exploded. It started at $7.83 and has today reached $9.60. That’s 22.6% growth!
Earlier this week, the company opened its 37th store in the state of Florida. This sort of expansion is why Trulieve has remained one of the leading and top-performing cannabis companies in the United States.
Pot Stocks Gaining: AgraFlora Organics
Penny pot stocks continue to be the big winners this October, as AgraFlora Organics International Inc. (CSE:AGRA) (OTCPK:AGFAF) is proving.
On October 1, AGRA stock was at $0.15, a record low for 2019. In the short time since then, however, the stock has grown a staggering 73%, all the way up to $0.26.
The company has had lots of good news lately to help bolster its stock price. At the end of September, it received a $2 million CAD cash infusion through a complementary cooperation agreement.
On October 2, AgraFlora provided a summary of the infrastructure upgrades completed for its Delta Greenhouse Complex. The company has thus far deployed over $30 million in plant, property, and equipment expenditures on retrofitting this complex in preparation to receive a standard cultivation license from Health Canada.
Meanwhile, in anticipation of “Legalization 2.0,” the company expects that its Winnipeg-based Edibles Facility will be fully operational by the first quarter of 2020. This facility is equipped with more than 30,000 square feet of dedicated edibles production space, as well as an 8,000 square foot pharmaceutical-grade edibles research laboratory.
What do you think? Are these three pot stocks going to continue exploding throughout October? Are there any others that you think will join them? As always, we want to hear from you. Jump into the conversation by providing your thoughts in the comments below.
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