On the first day of October, Rich is making sure his community can start the month off right. His list of the top ten pot stocks for October 2019 is based on which cannabis companies are profitable based on adjusted operating income.
Only two of the pot stocks are Canadian, while the other eight are all American. Rich’s list reflects the general downturn in the sector, but as he’s quick to remind everyone, low stock prices present a unique buying opportunity.
“Let’s get right into it,” Rich says.
Top Ten Pot Stocks 10–7
#10) OrganiGram Holdings (TSXV:OGI) (NASDAQ:OGI) with $24.8 million in quarterly revenue and $1.2 million in profit. This is OrganiGram’s second time placing number ten on one of Rich’s lists. Check out his top ten pot stocks for September 2019 for more.
#9) GrowGeneration Corp. (OTCQX:GRWG) with $19.5 million in quarterly revenue and $1.2 million in profit.
#8) CV Sciences, Inc. (OTCQB:CVSI) with $16.9 million in quarterly revenue, $1.3 million in profit.
#7) Planet 13 Holdings Inc. (CSE:PLTH) (OTCQX:PLNHF) with $16.5 million in quarterly revenue and $1.4 million in profit.
Top Ten Pot Stocks 6–3
#6) Charlotte’s Web Holdings (TSX:CWEB) (OTCQX:CWBHF)
Rich says: “CWEB is the largest CBD company in the world. $25 million in quarterly revenue and $2.3 million in profit.”
Earlier this month, Charlotte’s Web secured the first US patent for a hemp strain. Despite this, CWEB stock has been trending downward lately.
#5) Innovative Industrial Properties Inc (NYSE:IIPR)
Rich says: “This is a company that nobody talks about, but the price is very high, so be careful. I would not be surprised to see them go down, but they need to be on your watch list. $8.6 million in quarterly revenue and $4.1 million in profit. They have a very tight float.”
Innovative Industrial Properties leases out sites for cannabis cultivation. IIPR stock has grown more than 100% since the start of 2019.
#4) MediPharm Labs Corp. (TSX:LABS) (OTCQX:MEDIF)
Rich says: “I love Labs, I love these prices for Labs, I think they’re a giant. $31.5 million in quarterly revenue and $4.2 million in profit.”
Earlier today, MediPharm announced that it received permits to export additional medical cannabis concentrate to Australia. This represents 137% more volume compared to the company’s first export in the second quarter of 2019.
#3) MariMed Inc. (OTCQX:MRMD)
Rich says: “I was surprised to see this. They had so much quarterly revenue, but I wasn’t even aware. They’re up 6% today. $25.7 million in quarterly revenue—I was shocked to see that—and $5.3 million in adjusted operating revenue.”
Last week, MariMed reached an exclusive agreement with a large US-based beverage distributor, which is linked to as many as 8,500 retail locations.
Top Ten Pot Stocks #2
Last Thursday, Village Farms International Inc. (TSX:VFF) (NASDAQ:VFF) was announced as the third top-performing company in the Toronto Stock Exchange’s (TSX) inaugural TSX30 Program. This is a sign of the company’s impressive value, as it is currently worth $11.65 on the TSX.
Rich says: “I’ve been talking to you about these guys before anyone else. Village Farms is a giant, they’re a beast, and that’s because they’ve got a good-quality product and they’re doing business the right way. $9.3 million in revenue and $12.2 million in quarterly cannabis revenue. Remember, these guys are also in the business of vegetables.”
Top Ten Pot Stocks #1
The champion of pot stocks returning to its throne in October 2019 is Trulieve Cannabis Corp. (CSE:TRUL) (OTC:TCNNF), reclaiming the top spot it first held in August.
Rich says: “Trulieve is absolutely unbelievable and they need your attention. Regardless of the price right now, these guys are the best. Out of everyone in the cannabis sector, they are the best. $57.9 in quarterly revenue and $20.9 in adjusted operating income. They are the leader of the pack in actually being profitable.”
What do you think of the top ten pot stocks for October 2019? Do you have plans to invest in any of these companies? If so, we want to hear about it! Join the conversation in the comments below.
Featured image: DepositPhotos © roobcio