As always, Rich is on hand to break down the big winners in the cannabis sector. While the industry is tilting towards the red today, the best pot stocks are still doing well. It’s proof that even amidst the dreaded summer slump, there are still companies that can stay in the green.
“Overall there’s more red than green,” says Rich. “The industry is just begging for September.”
September is when the markets generally pick back up. The cannabis sector, in particular, has historically seen substantial growth in that month. Let’s take a look at the companies that are still holding strong and can make it through summer without too much selling pressure.
Best Pot Stocks: Supreme
The Supreme Cannabis Company (TSX:FIRE) (OTCQX:SPRWF) (FRA: 53S1) styles itself as Canada’s “only coast-to-coast premium cannabis producer.” The largess of that claim is only matched by the speed at which Supreme began turning a profit. For its fiscal year ending 2018, when most cannabis companies were still just getting off the ground, Supreme was already generating $8.85 million CAD in revenue.
For the most recent quarter, ending June 30, 2019, the company estimated net revenue of about $19 million. That number represents an improvement of nearly 450 percent over last year’s quarter and a 97 percent increase from the previous quarter.
This also marks Supreme’s eighth straight quarter of sequential revenue growth. Today, Supreme is one of the sector’s biggest movers, rising 6.25 percent.
“This is one that’s been making a nice move recently,” says Rich. “But on Barchart it’s still listed as a sell, so there’s a lot of selling pressure in the industry.”
Best Pot Stocks: BevCanna
Last month, Rich interviewed Emma Andrews, the Chief Commercialization Officer of BevCanna Enterprises Inc. (CSE:BEV) (OTCPK:BVNNF). Since then, it jumped up to a high of $0.78 off of news that the company was unveiling a new line of cannabis-infused beverages called Grüv.
“Today, BevCanna is up 18.37 percent and they have been on quite a roll lately,” says Rich. “They’re another big player in the CBD space.”
In addition to the new product line, BevCanna also announced last week that it successfully tested its proprietary powder ingredient, Deeper Green. This will be able to increase its product offering substantially, as powdered cannabis drinks can supplement nearly all of BevCanna’s existing brands.
Best Pot Stocks: TILT Holdings
Though in the past, TILT Holdings (CSE:TILT) (OTCQB:SVVTF) has watched its stock price fall from $3.50 to below $1.00, it’s been experiencing a kind of resurgence as of late.
“I think TILT is definitely undervalued, underappreciated, underexposed,” says Rich. “They’ve made some mistakes, but I don’t think this is a stock that will stay under a dollar. Their revenue growth is astronomical.”
It’s not clear what’s been driving the stock price to slowly climb back up, but the company has been avoiding bad press lately. It could be that investors are rediscovering the hope they once had for this cannabis company.
What do you think of these pot stocks? Got a company you want Rich to profile on RichTV Live? Let us know about it in the comments below. And don’t forget to check out Rich’s video about four pot stocks that can turn a profit.
Featured image: DepositPhotos © spyrakot