hemp stocks

Top Hemp Stocks I am watching in 2020

Is it time to buy hemp stocks?

To get straight to the point you still might need to wait for a specific catalyst. Hemp stocks all dropped towards the end of 2019 because of more regulations, and overproduction put downward pressure on share prices. 

Hemp is a strain of the Cannabis sativa plant that has been developed for industrial uses as well as derivative products. The hemp sector is in the process of changing from a no rules black market industry to the regular market.

While there are several hemp stock public companies that plan to generate returns for investors as the hemp market continues to grow, only a couple are positioned to be profitable. These are companies that will do extremely well if CBD is able to be labeled a dietary supplement.

Tilray (NASDAQ:TLRY) is a Canadian-based company that’s looking to generate sales in the hemp-CBD market south of its border. Tilray already has a wide range of hemp products in its portfolio, and they’re already sold in both Canada and the U.S. In addition to its popular Hemp Hearts brand of products, Manitoba Harvest also sells hemp oil and protein.

Canopy Growth (NYSE:CGC) may not be a big player in the U.S. hemp market today, but that could change quickly. The cannabis giant already has a license in New York to grow hemp and has a 308,000 square-foot facility in Kirkwood that the company should be operational in 2020.

This year could definately be a pivotal one with hemp stocks in determining who the actual market leader will be in hemp products now that competition is growing.

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