Pot stocks are the talk of the town. With so many marijuana stock investors looking for companies to watch, the options can sometimes seem overwhelming. One of the key things that many look for is the profitability of a given company. This metric can help to give an idea of where certain marijuana stocks are going and what their commitment is to future growth.
In addition, it can also help to illustrate how well their leadership is doing. Furthermore, it can give insight into what the next few years may look like for a cannabis company. These three marijuana stocks to watch are showing higher profitability than most.
Pot Stocks To Watch #1: Hexo Corp (HEXO)
HEXO Corp. (HEXO Stock Report) is one of the largest marijuana stocks in the industry. The company is considered to be one of the big Canadian cannabis growers. In the past year or so, they have returned a 12 month revenue growth amount north of 240%.
One of the key factors to their growth is the fact that they are working in the recreational marijuana market domestically. This side of the industry has exploded in recent times and still looks to have quite a bright future ahead. HEXO Corp. remains a marijuana stock to keep a close eye on.
Pot Stocks To Watch #2: Aphria (APHA)
Aphria (APHA Stock Report) should come as no surprise on this list. The company did undoubtedly have some difficult times during the past year or so, but they have made a major comeback recently. One of the largest issues that they went through was their lower production capacity than expected.
While this may seem like an issue, they still reported around 160% in growth quarter over quarter. Again, they work in the adult-use marijuana market which is a big key to success that we have seen. Investors should continue to view Aphria as a pot stock to watch moving forward.
Pot Stocks To Watch #3: GW Pharmaceuticals (GWPH)
GW Pharmaceuticals (GWPH Stock Report) is the only company on this list that is not a grower of marijuana. The company operates as a pharmaceutical business that utilizes the various compounds in the cannabis plant to make their products. The company has seen trailing 12-month revenues of around 758% in growth last year.
These numbers have vastly blown away the expectations that some pot stock investors had for the company. For this reason, GW Pharmaceuticals continues to illustrate why so many marijuana stock investors are keeping a close eye on the company.