In a sector that is increasingly growing, what hot pot stocks should be on your radar? It's a tough call. There are many potential plays out there, but today, Cronos Group (TSX:CRON) (NASDAQ:CRON) is on the radar after announcing stellar Q4 results. Is CRON stock for you?
Or what about CV Sciences (OTCQB:CVSI)? These shares are up almost 10% at the time of writing. Yes, there is a bevy of potential cannabis shares to choose from, but here are our two favorite hot pot stocks to consider today.
Hot Pot Stocks: Cronos Group
One of today's highlight cannabis stories is Cronos Group's massive Q4 2018 results. CRON stock showed a massive revenue growth of 248% from the same period last year. It pulled in revenue of $5.6 million for the fourth quarter and full year ended December 31st, 2018.
Further, in this quarter, the company closed its $2.4 billion investment merger with tobacco giant, Altria Group (NYSE:MO).
The company detailed further achievements made in 2018 that set it up nicely for an even more successful 2019. So here are several of the reasons why Cronos is a hot pot stock to watch in 2019:
- Two recreational brands launched: COVE and Spinach
- Partnership with Gingko Bioworks to produce Cultured Cannabinoids
- Listed on major US Exchange: NASDAQ
Currently selling for $20.53 USD on the NASDAQ, CRON is not the cheapest pot stock out there. But as the third largest cannabis producer by market cap, Cronos Group offers a lot of bang for your buck.
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Hot Pot Stocks: CV Sciences
Are analysts' bullish sentiments the reason CVSI stock is climbing almost 10% today? It's very probable. This hot pot stock has been moving in the droves lately, and there is little to no news from headquarters to cause the movement.
Rather, CV Sciences seems to be going over well with prominent analysts, and investors are taking note.
Much smaller than Cronos Group, CV Sciences is currently selling for $6.26 USD on the OTCQB, up 9.54% at the time of writing. The company cites itself as a life science company with a focus on developing and commercializing therapies using cannabidiol. It operates through two divisions, Specialty Pharmaceutical and Consumer Product.
As stated, analysts have looked favorably on CVSI stock in recent months. SeekingAlpha has called it the "Marijuana Trade of the Year" in an article published at the end of 2018. InvestorPlace calls bullish sentiments on CV Sciences as it "has more than doubled revenues. Moreover, its most recent quarter was a massive success, with top-line sales skyrocketing more than 125%."
The Takeaway
These hot pot stocks are on the radar lately, and as we move further into 2019, the industry is only just starting to heat up. Are either of these marijuana stocks for you?
Who have you got your eye on?
Featured Image: Canva
