Recently, Rich went live to discuss some of the stocks to watch in and adjacent to the cannabis sector. Not every company in the green is a buy, and not every company losing money is going to go out of business. Sometimes you get big guys playing dirty, like what happened with CannTrust Holdings (TSX:TRST) (NYSE:CTST), so you never know what’s going to happen.
That’s why Rich is here to guide you through the messy, but often profitable, world of pot stocks.
Stocks to Watch: Body and Mind
Body and Mind Inc. (CSE:BAMM) (OTCPK:BMMJ) invests in high quality medical and recreational cannabis cultivation, production, and retail. Its products include dried flower, edibles, topicals, and extracts, as well as GPEN Gio cartridges and Lucid Mood offerings.
The company went on a big run earlier this year, rising from $0.63 on the CSE in mid-March to $3.47 near the end of April. Since then, it’s largely stabilized around the $1.20 mark.
Despite the run, Rich has a tepid response to the company as a buying opportunity, at least for now. In his opinion, Body and Mind is, quite literally, a stock to watch right now, not to buy.
“Do I think BMMJ is a buy?” he says, in response to a community member’s question. “Not really.”
Stocks to Watch: EnWave Corporation
Vancouver-based EnWave Corporation (TSXV:ENW) is an advanced technology company. Its flagship product, Radiant Energy Vacuum (REV), is an innovative, proprietary method for the precise dehydration of organic materials. In particular, the company has developed patent-pending methods for drying and decontaminating cannabis through the use of REV technology.
Notably, EnWave partnered with cannabis giant Aurora Cannabis Inc. (TSX:ACB) (NYSE:ACB) in April. Aurora has begun using the REV technology on its cannabis in South America.
“I like EnWave, but it’s been on a big run, so typically when stocks go up there’s going to be a retraction. It may have a retraction or we may see it continue to rise,” explains Rich. “They are working with Aurora Cannabis so I wouldn’t be surprised to see them rise, but typically when you see a stock go up as much as it did there is a retraction.”
Stocks to Watch: High Tide
Rich provides an in-depth look at the up-and-coming Alberta-based cannabis company High Tide (CSE:HITI) (OTCQB:HITIF) in another video, but in his follow up live-stream he discusses in brief what makes the company special.
“That company has so much potential, so much potential,” Rich says.
High Tide invests in a lot of brands to corner the smoke and cannabis accessories market. Its flagship brand, Canna Cabana, is positioned as the leading cannabis retail network in the country. Vertically-integrated, High Tide distinguishes itself as both an operator and a franchiser.
“I haven’t seen too many companies focused on franchising,” Rich noted in his previous video. “It’s really interesting and I think it separates High Tide from a lot of other licensed producers in the sector.”
What do you guys think? Are these stocks the big movers of tomorrow? Check out the videos for the rest of Rich’s stocks to watch, and let us know any he might have missed in the comments below.
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