These Three Cannabis Stocks Are Worth Watching

Cannabis stocks are getting higher trader’s attention after Donald Trump’s decision to permit states to decide on how they regulate marijuana markets. This permission combined with the potential for complete legalization from Canadian government later this year has substantially increased trading volume of cannabis stocks.

Cannabis companies, on the other hand, are also expanding their footprints and stretching their investments in growth opportunities.

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The nano-cap Golden Leaf Corporation (OTCQB:GLDFF) stock price rose sharply higher after it announced sales growth of 50% for fiscal 2017.The producer and distributor of cannabis oil and flower products have also highlighted aggressive growth plans to capitalize on increasing demand.

The company has completed several acquisitions in fiscal 2017. Its acquisition includes Chalice Farms, NevWa Operating Licenses, and Medical Marijuana Group. It has also opened a new dispensary in downtown Portland, and the company has introduced Fruit Chews edibles in Oregon amid strong demand.

Commenting on results CEO says, “Golden Leaf is now focused on building our infrastructure responsibly and investing both organically and through accretive acquisitions to capitalize on the opportunities ahead of us.”

General Cannabis (OTCQB:CANN) is among the biggest gainers. Its stock gained more than 100% of price appreciation since the start of April. Its sales increased at a high double-digit rate last year, and the company is expecting to extend the momentum into this year. Its healthy liquidity with no debt strengthens its investment potential in growth opportunities. The company is looking to complete more acquisitions of companies that are that are still in the start-up phase.

GrowGeneration Corp (OTCQX:GRWG) revenue increased 80% Y/Y  to $14 million last year, and the company expects its fiscal 2018 revenue to stand in the range of $37 million this year. Darren Lampert, Co-Founder, and CEO said, “We have a robust pipeline of acquisitions, which we plan to close in the first half of the year. With revenue guidance set at $37M, we anticipate continued growth into 2018 and 2019.”

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