CBD stocks received exciting news this week when CVS Health (NYSE:CVS) announced that it will be selling CBD products in 800 stores across eight states, another major win for companies in the CBD space.
This announcement isn’t surprising considering the expected growth of the CBD industry, which gained significant interest following the passing of the US Farm Bill. In fact, hemp-derived CBD, which was a $390 million market in 2018, is expected to reach $1.3 billion by 2022.
Here are three CBD stocks investors should be paying attention to.
Hot CBD Stocks: Curaleaf Holdings (CSE:CURA) (OTC:CURLF)
Vertically integrated medical cannabis company Curaleaf Holdings has received a lot of attention lately from analysts, with its continued expansion in the US. Most recently, CURA announced a definitive agreement to acquire Acres Cannabis and its facilities in Nevada.
Curaleaf Holdings saw a significant boost in its stock price after announcing a partnership with CVS Health on a line of CBD products, jumping $1.90 on Thursday. At end of day Friday, Curaleaf stock closed at $12.90, up $0.90 (+7.50%).
Hot CBD Stocks: Wildflower Brands Inc. (CSE:SUN) (OTCQB:WLDFF)
Headquartered in Vancouver, Wildflower Brands Inc. is an integrated health and wellness company that creates plant-based health and wellness products using full-spectrum CBD. The company increased its online CBD sales by more than 300% last year and opened its first CBD retail store in January.
Although Wildflower Brands hasn’t released any news recently, the company’s stock saw a boost on Friday after announcing its inclusion in an editorial published by CannabisNewsWire. At 4 pm EST, Wilderflower stock was trading at $0.74, up $0.06 (+8.82%) on the Canadian Securities Exchange.
Hot CBD Stocks: Canopy Growth Corporation (TSX:WEED) (NYSE:CGC)
Canadian cannabis producer Canopy Growth Corporation is another company that is on the radar this week when it announced acquisition of AgriNextUSA, accelerating its expansion into the US hemp market.
With operations in 13 countries over five continents, Canopy Growth has established itself as a world-leading diversified cannabis and hemp company. The company saw a major uptick following legalization and quadrupled its sales in the fourth quarter of 2018 and has positioned itself to become the king of CBD this year.
Despite all of its encouraging news, CGC stock closed at $59.54 CAD on Friday, down $1.96 (-3.19%) on the Toronto Stock Exchange and $44.38 USD on the New York Stock Exchange, down $1.65 (-3.58%).
Are there any other CBD stocks on your radar?
Featured Image: DepositPhotos © EdZbarzhyvetsky