The cannabis sector has been on quite a tear the past few months. WealthPress Trader Jeff Yastine talked about his three favorite pot stocks in the wake of the Georgia Senate run-offs back in early January. But there are always new opportunities popping up…
And Jeff’s research has led him to an under-the-radar pot stock he’d like to discuss today.
With the federal government’s legislative body becoming more favorable to the cannabis sector, it should have more solid footing for legalization.
The three stocks he discussed in January are Aphria Inc. (Nasdaq: APHA), Canopy Growth Corp. (Nasdaq: CGC) and Trulieve Cannabis Corp. (OTCMKTS: TCNNF).
APHA is up over 90% after a proposed merger with Tilray Inc. (Nasdaq: TLRY), CGC is up about 45% and TCNNF is up about 10% after a big run up the past year.
These three names should be familiar to most cannabis investors and Jeff expects them to keep moving higher… But what about an under-the-radar pot stock?
An Under-the-Radar Pot Stock With Big Upside
This new company started off creating a successful business growing greenhouse veggies, and it is one of the largest indoor produce growers in America. Now it’s pivoting toward cannabis as a new, more valuable crop to put under those same greenhouse roofs.
While the bigger names he mentioned already have future growth baked into their share prices, this under-the-radar pot stock has yet to fully price in its potential growth. Over the past couple of years, this stock chart has shown a fair amount of volatility.
But most of that volatility is to the upside. It tripled in 2017, backtracked and then had a gigantic move higher in 2018, from $3 to $16 a share. Pot stocks mostly tanked through big parts of 2019 and 2020, and it retraced all of its gains.
Since bottoming out amid the early days of the pandemic… when virtually everything was crashing… the shares are once again up about five-fold.
So check out Jeff’s short video and let’s chat about his under-the-radar pot stock, which is trading under $15 a share. What are your favorite pot stocks? Let us know in the comments below. And as always, send your investing questions to jeff@yastine.com. Be sure to subscribe to Jeff’s new YouTube channel. You can also follow him on Twitter and Facebook.
P.S. Have you ever heard of a SPAC?
It stands for “Special Purpose Acquisition Company,” which is essentially a little-known way for private companies to take their businesses public.
Most people have no idea that this type of IPO exists. And yet those who get into these deals before they take off can see their investments skyrocket by triple, even quadruple digits.
Wall Street insider Jeff Yastine has closely followed the SPAC revolution for over a year now, and he has identified 10 SPACs about to take off in short order.
Jeff has put together a special report detailing these 10 investment opportunities… and how to get into them miles ahead of everyone else.
