Investing in cannabis stocks can be an enticing opportunity for investors looking to capitalize on the growing marijuana industry. However, it’s important to approach these investments with caution and understand the associated risks. In this article, we will explore the 13 best-performing cannabis stocks as of July 2024.
- Village Farms International Inc (Ticker: VFF) – Performance (Year): 70.07%
- Innovative Industrial Properties Inc (Ticker: IIPR) – Performance (Year): 45.51%
- Canopy Growth Corporation (Ticker: CGC) – Performance (Year): 41.08%
- WM Technology Inc (Ticker: MAPS) – Performance (Year): 39.73%
- SNDL Inc (Ticker: SNDL) – Performance (Year): 39.71%
- Emerald Holding Inc (Ticker: EEX) – Performance (Year): 37.65%
- Turning Point Brands Inc (Ticker: TPB) – Performance (Year): 33.24%
- Cronos Group Inc (Ticker: CRON) – Performance (Year): 19.01%
- Tilray Brands Inc (Ticker: TLRY) – Performance (Year): 4.97%
- Scotts Miracle-Gro Company (Ticker: SMG) – Performance (Year): 4.56%
- Chicago Atlantic Real Estate Finance Inc (Ticker: REFI) – Performance (Year): 1.28%
- OrganiGram Holdings Inc. (Ticker: OGI) – Performance (Year): 0.32%
- AFC Gamma Inc (Ticker: AFCG) – Performance (Year): -4.29%
It’s important to note that investing in cannabis stocks carries a certain level of risk. The marijuana industry is still relatively new, and regulatory frameworks are constantly evolving. Additionally, marijuana is classified as a Schedule 1 drug at the federal level in the United States, which presents legal and regulatory uncertainties.
When investing in cannabis stocks, it’s crucial to conduct thorough research on each company. Consider factors such as the company’s financials, market position, competitive advantage, and growth prospects. It’s also advisable to diversify your portfolio by investing in a mix of cannabis stocks and other industries to mitigate risk.
Furthermore, stay updated on the latest industry trends, regulatory changes, and market developments that can impact cannabis stocks. This will help you make informed investment decisions and navigate the volatility of the market.
Lastly, it’s important to consult with a financial advisor or investment professional who specializes in cannabis investments. They can provide personalized guidance based on your investment goals, risk tolerance, and overall financial situation.
Remember, investing in cannabis stocks can be rewarding, but it’s essential to approach it with a long-term perspective, thorough research, and a diversified portfolio strategy.
