Almost every market saw growth in 2019, except for cannabis. This doesn’t mean pot stock investors should start gnashing their teeth and pulling out their hair, but it does mean they should start diversifying the portfolio. To help with that transition, RichTV Live is bringing you the definitive “Stock Market Forecast 2020.”
One industry that Rich says is important to watch in the new year is 5G. A lot of major companies will be doubling down on this breakthrough tech, including market leaders like Apple Inc (NASDAQ:AAPL) and AT&T (NYSE:T).
On top of that, there are a couple of potential tenbaggers that the RichTV Live members should keep in mind. So, without further ado, here are some top stocks to watch before 2020 beings.
Stock Market Forecast 2020: IIPR
Based in Maryland, Innovative Industrial Properties Inc (NYSE:IIPR) focuses on the acquisition, ownership, and management of specialized properties. The company leases these properties to state-licensed medical cannabis cultivators.
Interestingly, the company is taxed not as a cannabis company but as a real estate investment trust. Because of this, it is the first and only real estate company on the New York Stock Exchange.
In IIPR’s Q3 financial results, released last month, the company generated rental revenue of approximately $11.2 million. This represents an astounding 201% increase from the prior year’s Q3 results.
Its adjusted funds from operations (AFFO) came to $9.5 million, or $0.86 per diluted share. This is an increase of 270% from the prior year. The company also paid a quarterly dividend of $0.78 per share, representing 30% quarter-over-quarter growth.
Clearly, IIPR shareholders have plenty of reason to celebrate. As if all that wasn’t enough, shares soared 10% on the back of such strong financials. IIPR stocks is currently worth $73.28, up 59.6% for the year-to-date.
While this isn’t, strictly speaking, a pot stock, it is cannabis adjacent. Green investors could consider loading up on IIPR, as there’s plenty of reason to suspect 2020 will be as good for the company, or even better, than 2019.
Stock Market Forecast 2020: TDOC
Another potential tenbagger that Rich recommends is Teladoc Health Inc (NYSE:TDOC). Through telephone and videoconferencing technology, Teledoc provides on-demand remote medical care. Its solutions are designed to help people who can’t reach out to a doctor in-person.
The company is a safe investment, as its telehealth solutions are included in most Medicare Advantage plans in the US. Because of this, the company recently declared that it is “poised for strong growth in the coming years due to the growing acceptance of telehealth services around the globe.”
In the first half of the year, TDOC increased revenue by 40 percent. Likewise, its stock has risen just over 60% in value. On top of that, the telemedical market is expected to be worth $56 billion by 2023. This gives the company plenty of room to grow from here.
Stock Market Forecast 2020: The Market Melt Up
Finally, Rich predicts that 2020 will be the year of several major market melt ups. A “melt up” occurs when a stock suddenly shoots up in value as investors rush to share in the profits.
Think of it like a snowball rolling down hill, getting bigger as it goes faster and vice versa. Only instead of down, this snowball is rising, and a lot of investors will profit.
Melt ups are also typically followed by some pretty brutal corrections. So, as always, make sure you’re investing carefully.
“In 2020, you could have the best year of your life,” says Rich. “Next year we will be more diversified than ever. I promise you that.”
If you liked this article, make sure to check out Rich’s top ten pot stocks to watch in December. Stay tuned for more!
Featured image: DepositPhotos © Zerbor