When Rich released his list of top 10 cannabis companies to watch in October, pot stock watchers received a veritable who’s-who of industry leaders. Now he’s back to let his community know who will be the big movers in November.
“Some of these pot stocks are profitable, some of them are on the path to profitability, but these are all companies that I like and I think they all have enormous upside,” says Rich.
Let’s take a look.
Pot Stocks to Watch: #10–7
10. iAnthus Capital Holdings, Inc. (CSE:IAN) (OTCQX:ITHUF)
Rich Says: “Their revenue was $19 million last quarter, and it grew by 7,400% in one year. They did have $26.1 million in adjusted operating losses, which is why they can’t be higher on my list, but in my opinion this is a company with a lot of upside.”
9. Planet 13 Holdings Inc. (CSE:PLTH) (OTCQX:PLNHF)
Rich Says: “They’re trying to create a cannabis experience in Vegas. $16.5 million in quarterly sales, 275% year-over-year growth, and $1.4 million in adjusted operating income. So don’t sleep on Planet 13.”
8. GW Pharmaceuticals (NASDAQ:GWPH)
Rich Says: “$72 million in quarterly sales, 2,094% year-over-year growth, but operating losses of $29.3 million. Despite that, they’ve been performing unbelievably in the market and are still trading at more than $100.00. GW is a giant.”
7. Green Thumb Industries Inc. (CSE:GTII)
Rich Says: “These guys have so much potential. $44 million in quarterly revenue, 220% year-over-year growth, though they’re still showing a loss of $9.9 million. We need to follow the profit, but this is a high-priced stock right now and they are growing exponentially.”
Pot Stocks to Watch #6–3
6. Trulieve Cannabis Corp. (CSE:TRUL) (OTCQX:TCNNF)
Rich Says: “These guys have had my number one spot for three months in a row. I had to knock them down because they’ve been going up since I made them my number one pick. Truelieve has $57 million in quarterly sales, 130% year-over-year growth, and $20.9 million in adjusted operating income. That makes them number one for cash flow in the entire sector.”
5. Curaleaf Holdings Inc. (CSE:CURA) (OTCQX:CURLF)
Rich Says: “I think the potential for Curaleaf is enormous, but we need to be careful because they have a lot of shares being unlocked in the market. I think that’s why a lot of people are starting to sell off. Still, they’re one of the biggest pot stocks in America. $48 million in quarterly sales and 231% in year-over-year growth.”
4. Valens GroWorks Corp. (TSXV:VGW) (OTCQX:VGWCF)
Rich Says: “$16.5 million in quarterly sales, 87% quarter-over-quarter growth. If you can grow your revenue by 87% in one quarter, that is an amazing jump. $5.5 million in adjusted operating income. This is a company that’s focused on revenue and profitability. Valens needs to be on everybody’s radar, because they have a chance to be as big, if not bigger, than MediPharm Labs.”
3. OrganiGram Holdings (TSX:OGI) (NASDAQ:OGI)
Rich Says: “The upside for OrganiGram is incredible. They are going to be a major player in edibles. $24.8 million in quarterly sales, which is 630% in year-over-year growth. How could you not pay attention to a company that’s revenue has grown that much. These are the companies that have a chance to succeed. If they’re profitable now, how profitable will they be in the future?”
Pot Stocks to Watch #2
Coming in at Rich’s number two spot is MediPharm Labs Corp. (TSX:LABS) (OTCQX:MEDIF). Not only has the company been able to weather the storm that’s sunk a lot of its competitors’ share prices, it’s also well-positioned to benefit from Cannabis Legalization 2.0.
“This has been one of the strongest and most resilient stocks in 2019 in the cannabis sector,” says Rich. “$31.5 million in quarterly revenue, 43% quarter-over-quarter growth, and $4.2 million in adjusted operating income.”
Just yesterday, the company received its Cannabis Research Licence from Health Canada. This will allow MediPharm to conduct controlled human administration trials of dried cannabis, cannabis extracts, concentrates, distillates, oil, edibles, topicals, and terpenes. This means it’s one of the few companies that is truly prepared for the cannabis consumables market.
Pot Stocks to Watch #1
And debuting at number one is Canopy Growth Corporation (TSX:WEED) (NYSE:CGC). That’s right, the world’s biggest cannabis company makes its first appearance on Rich’s list by taking the top spot.
“I thought I’d never do this, but I never thought they’d be this low,” says Rich. “They are too big to fail. They are the Lebron James of the cannabis sector.”
Rich calls Canopy’s current price of $26.09 “the gift of the century.” The weed giant has lost nearly 70% share value from its 52-week high in April, and much of that was following the termination of CEO Bruce Linton.
“We’re talking about a company that has a chance to be the global leader in the cannabis sector,” Rich adds. “$90.5 million in quarterly sales, and they’re anticipated to do about $117 million on the next quarter. 249% year-over-year growth. What’s the reason the stock is down? Their adjusted operating income was negative $216 million in the quarter.”
According to Rich, all Canopy needs to do is turn its net loss around, and it will realize its full potential.
What do you think of Rich’s top ten pot stocks to watch in November? Do you have a top ten list of your own? Let us know about it in the comments below!
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