Marijuana stocks have proven to be very profitable. Just look at Tilray, which soared over one thousand percent when it had its IPO last year.
The stock had a legendary running from around $20 on July 31 to $300 on Sept. 19 for a whopping 1,400% gain.
Marijuana stocks can experience explosive moves and so can trading the options.
Tilray (NASDAQ: TLRY), is a medical marijuana producer that won approval from the Drug Enforcement Administration to import a cannabis product drug into the U.S. for a clinical trial. The stock is one of the hottest marijuana stocks around. This year Wall Street projects $153 million in sales for the company.
Aurora Cannabis (NYSE: ACB), is a Canadian licensed cannabis producer, headquartered in Edmonton. As of September 2018, Aurora Cannabis had eight licensed production facilities, five sales licenses, and operations in 18 countries.
Cronos Group (CRON) is a firm that seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada’s
Marijuana for Medical Purposes Regulations. The firm typically invests in companies based in Canada.
Canopy Growth (NYSE: CGC), together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils
and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow, and Foria brand names. It was last November that the company closed Constellation Brand’s $5 billion CAD ($4 billion USD) investment into the company.
If you’re looking to bet on pot stocks, options may allow for successful profits with how volatile these stocks can be.
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