The cannabis industry is booming, and certain companies always take the limelight. But what about those smaller pot stocks that you haven't even heard of? There's potential in the unknown here, so let's check out some less "obvious" cannabis picks that might interest investors.
Hot Pot Stocks: Flower One Holdings (CSE:FONE) (OTCQB:FLOOF)
Flower One Holdings Inc. is a Nevada-based cannabis producer. Involved in every step of the cannabis supply-chain, it cultivates, produces, packages, and distributes.
The company calls a 400,000 sq ft greenhouse home. It also boasts a 55,000 sq ft processing and packaging facility that, once fully operational, "will be capable of producing 62,500 kg of dry flower" annually.
This makes this hot pot stock even hotter because, at that capacity, Flower One Holdings is in line to become the largest cannabis cultivator and producer in Nevada—the second biggest cannabis market in the US after California. Sales here topped $530 million USD in 2018.
There's a lot to be bullish about here, and Mackie Research analyst Greg McLeish agrees. He recently reiterated his “Buy” rating while lifting his price target from $4.50 to $5.50 CAD per share.
That rise suggests a projected return of 108%. So for $2.90 CAD at present, and up almost 10% on the day, it's hard to overlook this pot stock.
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Hot Pot Stocks: Planet 13 Holdings (CSE:PLTH) (OTCQB:PLNHF)
Staying in Nevada, Planet 13 Holdings is another hot pot stock to watch. Where most companies rely on loyal customers, Planet 13 is taking advantage of an entirely new market—marijuana tourism.
The company launched the first phase of its cannabis Superstore near the Las Vegas strip last November. This entertainment complex offers 40,000 sq ft of entertainment space, "including interactive attractions and more than 16,500 square feet of cannabis retail space."
Shares are up 20% at the time of writing, and it's no surprise: Planet 13 Holdings released its March 2019 tally, showing sales at its Superstore of $5.5 million USD for this month alone. It is also showed an average daily visitor count of 3,194, making it one of the most visited dispensaries in the country.
So with phase one already proving popular, what can we expect once phase two is up and running?
Selling for $2.06 USD at present, and on an upward swing of 18%, Planet 13 is one hot pot stock that is only getting hotter.
Are you looking at the smaller companies in cannabis? Do you know any hot pot stocks we should look at?
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