Americans are crazy about their pets, spending billions of dollars every year on everything from food to treats and even pet hotels.
Now we can add another category… cannabis.
It’s well known what CBD can do for humans, treating everything from pain relief to depression.
Is it that much of a leap to think what CBD can do for pets?
Not in the least. And that emerging industry will be a multibillion-dollar catalyst for CBD stocks in the next several years.
One of the biggest concerns for any pet owner is anxiety. My own puppy has major separation issues. He just hates being alone. When anxiety is at a peak, his behavior changes. He is morose and angry. As a result, he marks all over the house.
It really ticks me off.
In those times, I could use that CBD biscuit to calm his nerves.
Well, those products are coming in a big way.
SIT THIS ONE OUT and you could miss an American economic revolution that could send three little pot stocks soaring up to 1,000%. Click here to see why…
But before we get to how huge the run for CBD stocks may be, have you seen the latest “pet” offering on Wall Street?
Last week, online pet retailer Chewy Inc. (NYSE: CHWY) went public.
The IPO market is red hot in 2019, and Chewy was just the latest company to take advantage. Shares jumped roughly 64% above the initial offering price in the first day of trading.
One thing is clear: Consumers flush with cash are spending on their pets. Now combine that spending power with the CBD and marijuana markets, and we have a serious catalyst for CBD stocks in 2019.
Now, here’s our favorite stock to play this trend immediately…
This Is One of the Best CBD Stocks to Buy in 2019
Money Morning‘s favorite way to play the explosive growth of CBD is Canopy Growth Corp. (NYSE: CGC) stock.
The extension of CBD to the pet market will be a massive catalyst for Canopy Growth.
Of course, Canopy is one of the biggest names in marijuana investing. Cautious investors may rightly wonder if Canopy hasn’t already seen its explosive growth.
Even if pet CBD is the be-all and end-all, isn’t that already priced into the stock?
No way – not even close.
Think about owning Amazon.com Inc. (NASDAQ: AMZN) when shares were trading for around $5 per share in the abyss of the dot-com crash.
When the market stabilized in 2003, Amazon was up and running again.
You might have been skeptical when shares of Amazon traded for $40 per share or more that year.
Looking back now, I doubt you would complain buying at that price when Amazon is now trading for almost $2,000 per share.
The same thing can happen to Canopy. Even big celebrities like Martha Stewart are taking notice. The queen of retail, Martha Stewart is a machine at branding.
Canopy recently signed Stewart to be an advisor for developing CBD products for the pet market.
This is a huge development for Canopy and quite positive for future growth.
Want more proof that it’s not too late to buy Canopy?
Look at Microsoft Inc. (NASDAQ: MSFT).
Many investors thought it was too late to buy the giant software company back in 2009.
Since that time, shares are up a whopping 700%.
We have a similar situation today with Canopy Growth.
If I can invest a few dollars on a CBD biscuit for Fido instead of spending hundreds of dollars and hours upon hours of time training Fido to be calm, I’m buying the biscuits.
So too will many others. That’s why Canopy Growth can double or more from current prices despite having enjoyed a huge run since shares began trading in late 2017.
At current prices, Canopy Growth has a market capitalization of $14.7 billion, and that’s with only a handful of states in the U.S. that have legalized cannabis.
Imagine what the market cap will be when all 50 states have legalized?
Add in the pet catalyst, and buying Canopy Growth today is a no-brainer.
How to Become the Ultimate Pot IPO Insider
The most exciting cannabis IPO opportunity we’ve seen this year is about to hit the market. You need to know about these four companies before other investors are scrambling to play catch-up. Right now, each one of these companies is capable of generating between $500 million and $3 billion for investors the day they go public. We’ve laid out all of the details on these four IPOs – and how you can get in on them even if you’ve never invested a dollar in your life – right here.
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