6 Marijuana Stocks Traded on the NYSE

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Though marijuana remains illegal federally, this has not impeded marijuana stocks investors and entrepreneurs from reaping great profits off the cannabis industry. Most market activity has taken place in OTC markets, but a few standout companies have broken through to graduate to more distinguished exchanges, such as the New York Stock Exchange (NYSE).

Take a closer look at these six marijuana stocks to invest in currently traded on the NYSE:

Innovative Industrial Properties Inc. cannabis stocks

Innovative Industrial made its first appearance on the NYSE on December 1, 2016. The company owns industrial real estate assets – properties and facilities for pot cultivation and processing – which they in turn lease to medical cannabis companies, often establishing long-term leases with triple-net values. Innovative Industrial also provides these MMJ clients with the services of professional licensed MMJ growers. Currently, the company’s stocks are trading at $26.10, a drop from its highest peak of $36.57.

22nd Century Group marijuana stocks

22nd Century Group debuted March 11, 2014 on the NYSE. A biotech company whose emphasis is on plant breeding and genetically engineered products, they have also turned their focus toward research and development of cannabinoid, specifically, products sourced from industrial hemp.

The company, in partnership with University of Virginia, celebrated the harvesting of its first industrial hemp crop in 2017, which was valued at $1 million. 22nd Century’s most notable achievement, however, has been the development of a “non-addictive” strain of tobacco, with trace levels of nicotine. This development is groundbreaking in the industry, and the company is currently in the process of patenting the strain. The company’s stocks are up $2.00 in value from where they were last year, currently at $2.90.

India Globalization Capital cannabis stocks

India Globalization Capital is a company with internationally diversified interests. They can be found globally working in pharmaceutical research capacities related to cannabis, infrastructure, construction of farm facilities, industrial equipment, leasing and real estate endeavors. In the domestic sector, they are primarily focused on developing CBD therapies for the treatment of pain, nausea and Alzheimer’s.

Back in December, India Globalization saw a jump in share values after announcing plans to problem solve the industry-wide concern of inadequate product labels. However, those gains were short lived, as the company’s stocks are back to trading around $0.84.

AbbVie marijuana stocks

AbbVie began, originally, as a spin-off of Abbot Laboratories, but the pharmaceutical company has already edged out its competitor by putting a marijuana-related product (Marinol or dronabinol, a synthetic THC used to help cancer and HIV patients suffering from treatment-related nausea) on the market. Few comparable products exist to compete with Marinol, so, AbbVie has seen rising revenues these past few years, with shares currently trading at the 50% increase of $111.20. The risk for MMJ stock investors to be aware of with AbbVie is that it is overly-reliant on U.S. markets.

Compass Diversified Holdings cannabis stocks

Compass Diversified Holdings made its first appearance on the NYSE in May 2006. The company specializes in the acquisition and management of mid-level businesses. Though it is not primarily associated with cannabis, the company does maintain holdings in several companies with hemp-based food products. Compass’s share values have been in gradual decline over the years, down 4% in 2017 alone, and currently trading around $16.60.

Scotts Miracle-Gro marijuana stocks

It wasn’t until 2016 that the CEO of Scotts Miracle-Gro burst into the MMJ scene with an announcement of the company’s plans to invest $500 million in the marijuana industry.

Since then, the company has spent several hundred million in the acquisition of companies and technologies and cannabis-specific pesticide development. Their supportive focus in the industry has allowed them to reap many of the industry’s benefits while also shielding them from many of the legal risks associated with involvement in the cannabis market. The company enjoyed about 5 years of steady growth, but, suffered along with most other cannabis-related companies during last month’s market correction. Currently, Scotts Miracle-Gro shares are valued at $89.13.

(For more information on which marijuana stocks to invest in, read Bud Buyouts: 3 Top Marijuana to Consider.)

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