4 Marijuana Stocks That Made New All Time Highs In 2019

After a brutal finish to 2018, Marijuana stocks started off 2019 absolutely on fire. The majority of Cannabis stocks have completely smoked the market and left investors sitting with substantial gains. Most of you probably believe the stocks on this list would include Canopy Growth (TSX: WEED) (NYSE: CGC), Aurora Cannabis (TSX: ACB) (NYSE: ACB) and The Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF), to name a few. But you would be wrong. Even though the aforementioned stocks have been red hot to start the year, their share prices have not been able to reach new all-time highs.

Without further ado let’s jump into our list of Marijuana stocks whose share price reached and closed at an all-time high in 2019.

#1. Cronos Group Inc. (TSX: CRON) (NASDAQ: CRON)

The first stock on our list should surprise no one. Most would consider Cronos Group as part of the big three Canadian licensed producers. After inking a massive deal with Altria Group (NYSE: MO) in early December 2018 and closing the deal on February 21st, the stock has been on an absolute tear. You could argue that Cronos Group‘s deal with Altria was the catalyst that lit a fire under the Cannabis sector’s ass.

After opening at $13.97 on January 2, 2019, Crono’s stock reached a new all-time high of $32.95 on February 4. The stock ended up closing that day at $30.57 for its highest ever closing price. This massive run to start the year left investors with a potential ROI of 135%. Not bad at all for only a single month’s return.

 

Source: Barchart

#2. Innovative Industrial Properties Inc. (NYSE: IIPR)

Innovative Industrial Properties is a bit of a different stock than what most of us are used to. IIPR is actually considered a REIT and describes themselves as a pioneering real estate investment trust focused on the medical cannabis industry. A REIT by definition is a corporation that combines the capital of many investors to acquire income-producing real estate.

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I have NOT been compensated for this article and hold NO positions in any of the companies mentioned.

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Weed Investor 6 months ago Member's comment

What are your favorite cannabis stocks that you'd recommend to someone just getting into this space?