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Are These 2 Top Cannabis Stocks To Buy In August 2020?

Cannabis stocks could have a monstrous rally if there’s “Blue Wave” in November.

best pot stocks to buy

Should We Buy These Cannabis Stocks Ahead Of The Presidential Election?

With so many pot stocks in the cannabis industry, finding the best marijuana stocks to buy can be a real challenge. In the marijuana space, who’s running the government could be far more important than their business fundamentals. The entire stock market is looking forward to the 2020 U.S. Presidential election for clues on how to invest in the stock market. Pot stocks investors are anxiously hoping a “blue wave” would happen in November. The notion of a “blue wave” refers to a theorized Democratic sweep during the upcoming midterm elections, specifically the idea that the party could win back control of both the House of Representatives and Senate. This would presumably lay a solid foundation for the national legalization of cannabis in the U.S.

If that does really happen, the cannabis industry will stage a comeback and possibly go back to the levels of 2017 or 2018. After all, many publicly listed cannabis companies are headquartered in Canada. Many of these Canadian based marijuana companies have been waiting for a national legalization in the U.S. before expanding to this largest cannabis market in the world. The industry has seen massive demand in the past few months as more of the public has turned to cannabis to fill their time. Of course, this has been great news for cannabis stock investors. It appears the marijuana space could be less affected by the pandemic than other industries. With all that in mind, could these two pot stocks continue to make major headway in the industry?

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Top Pot Stocks To Buy Now [Or Sell]: Canopy Growth

Canopy Growth (CGC Stock Report) is basically the Amazon (AMZN Stock Report) of the marijuana market. It is largely regarded as being the largest cannabis stock in the industry. Despite CGC stock holding up relatively stable in the past few months, it is still trading at a fraction of its peak of near $50 per share. Some investors might shy away from the cannabis industry altogether. I don’t blame them, though, since the valuations of the industry fail to match the bullish hype. But for some, buying CGC stock today is like buying Amazon or Microsoft (MSFT Stock Report) in their early days. 

Like it or not, the cannabis industry is not going to go away. And when the momentum returns, Canopy will be the first few to feel the lifts. If you have been following the industry. You would know that Constellation Brands Inc. (STZ Stock Report) invested nearly $4 billion into Canopy a few years ago.

Now, Canopy has used this capital to fund its expansion. With a strong balance sheet currently, CGC stock will probably be one of the most financially stable cannabis stocks for quite some time.

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Top Pot Stocks To Buy Now [Or Sell]: Truelieve Cannabis

If you are looking for one of the most profitable cannabis stocks in North America, Trulieve Cannabis (TCNNF Stock Report) should be on your list of best pot stocks to buy. During the second quarter, Trulieve reported $120.8 million in net sales, representing a 109% improvement from the prior-year period.

The company’s massive success continues to center on the Florida market. The company is absolutely firing on all cylinders in its home market. According to the company’s own estimates, Truelieve controls 51% of Florida’s medical marijuana sales. But it’s not just Trulieve’s market share that’s impressive.

Despite opening 55 out of 57 dispensaries in Florida, Trulieve has been able to keep its marketing and operating expenses reasonably low. But the question here is, can Truelieve replicate its success outside the Sunshine State? Should the company indeed be successful in expanding its operations outside Florida, TCNNF stock would be one of the best pot stocks to buy today.

By Adam Lawrence

Adam Lawrence is a serial entrepreneur and financial writer for StockMarket.com. He calls Miami, Florida his home but has a love for travel. He started his first digital marketing and website design business, in 2006 at the age of 23. He has worked with and consulted for hundreds of publicly traded companies. His vast knowledge of the public markets has allowed him to gain real-world experience in corporate communications. No matter what is going on in the stock market today, Adam is at the front of the line to track new trends and present them to readers.

As an active contributor to other financial sites like GuruFocus and Benzinga, Adam has gained prominence for reporting on several topics. These include biotech stocks, technology stocks, gold stocks, as well as marijuana stocks. These active stock market sectors have presented investors with some of the biggest opportunities in the stock market today. Adam's goal is to present readers with easily digestible content that is both informative and actionable.

Adam's years of experience in digital marketing have helped give him an edge above other financial writers. His ability to pick up on stock market trends before they hit Main Street is one of the things that has afforded him the opportunity to interact with and engage public companies. Reporting on current events is one thing but being able to dissect them and translate them for readers is of the utmost importance. In doing so, Adam has set a personal standard to deliver timely information that dives deeper than simple headlines and goes into the fine details of what's driving stock market trends. He also stays on top of the most current social media trends among top influencers.

With the emerging landscape surrounding new media, Adam takes an active approach to learn what drives interest in different social media and finds ways to tap into whatever is trending at that time then apply it to his approach to the stock market. In his free time, he enjoys being with his family and working on his house. He's also an avid car enthusiast.