With the first half of the year officially coming to a close, we can now say that, despite some hiccups during the second quarter and ongoing supply issues throughout Canada and the U.S., pot stocks “kicked some bud.”
For instance, the Horizons Marijuana Life Sciences ETF, a basket fund that holds more than four dozen pot stocks of various weightings, rose 37% in the first six months of 2019. On my personal watchlist, of the 57 pure-play and ancillary marijuana stocks that were publicly listed through the entirety of the first half of 2019, 36 of them, or 63%, headed higher.
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These pot stocks were unstoppable in the first half of the year
Although many U.S. pot stocks showed weakness in overall performance during the first half of 2019, Canadian marijuana stocks, cannabinoid (CBD)-based drug developers, and anything having to do with CBD derivatives, tended to do quite well. Here’s a rundown of the best marijuana stocks through the first six months of the year, which’ll be followed by a brief discussion on what’s been working for these stocks, and, in some instances, what investors might expect in the second half of the year.
- Zynerba Pharmaceuticals (NASDAQ: ZYNE): Up 358%
- Village Farms International (NASDAQ: VFF): Up 253%
- MediPharm Labs: Up 217%