7 Cannabis Stocks That Will Benefit From The Results Of The U.S. Election

Over the weekend, Joe Biden was declared to be the winner of the Presidential election and is being referred to as President Elect.  The change in the guard is expected to be a catalyst for the US cannabis industry and the sector has recently been surging to upside…

When you combine an administration that has a more favorable view on the cannabis industry with the passing of medical and recreational cannabis legislation in several new states, you have the recipe for a rally and we want to highlight 7 companies that are expected to be beneficiaries of this.

  1. Through a strategic relationship with Molson Coors (TAP.CN), HEXO Corporation (HEXO.TO) (HEXO) is levered to the US cannabis beverage market (CBD only). If the Biden administration decriminalizes or reschedules cannabis, we expect the brand, Truss Beverages, to start selling THC cannabis beverages in the US and this could prove to be a substantial long-term growth driver for the business. The recent trend for HEXO has been to the upside and this is an opportunity that we are following.
  2. Next Green Wave Holdings (NGW.CN) (NXGWF) has been quietly executing on the California cannabis market and is an opportunity that is flying under the radar. Last week, the company reported to have generated $1 million of Adjusted EBITDA in October. We believe Next Green Wave has been executing flawlessly on a multi-faceted growth strategy in California and are favorable on the direction the management is bringing the business. We expect the company to benefit from a Biden administration and consider it to be an underappreciate opportunity.
  3. ManifestSeven Holdings Corporation (CSE: MSVN) recently completed a go-public transaction and commenced trading on the Canadian Stock Exchange (CSE). The company is California’s first integrated omnichannel platform for the legal cannabis industry and we are favorable on the leverage that it has to the entire value chain. Earlier this month, the company released quarterly financial results and reported impressive growth a number of key metrics. We believe that ManifestSeven has substantial potential catalysts for growth and are bullish on the expansion opportunity under a Biden administration.
  4. GW Pharmaceuticals plc (GWPH) was one of the first publicly traded cannabis companies and is focused on developing treatments for severe forms of epilepsy and other indications like multiple sclerosis. During the last few quarters, GW has recorded strong revenue growth and the US market has been the primary driver of this. Going forward, we expect the biotech cannabis company to bring additional FDA approved treatments to market and is a business that we are bullish on.
  5. Innovative Industrial Properties, Inc. (IIPR) is one of the only publicly traded cannabis companies to offer a dividend. As of November 4th, the NYSE traded cannabis REIT owned 63 properties located in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania and Virginia. The properties have approx. 5 million of rentable square feet in aggregate which are 99.3% leased (based on square footage) with a weighted-average remaining lease term of approx. 16.1 years. Innovative Industrial Properties is…

Continue reading at TECHNICAL420.com