You might have thought that 2018 would have been a fantastic year for most marijuana stocks. Canada is on course to open its big recreational marijuana market in October. Global demand for medical marijuana is increasing. But the reality is that most marijuana stocks aren’t performing nearly as well so far this year as they did at this point in 2017.
However, there have been some winning marijuana stocks at the halfway market through 2018. These three are the best marijuana stocks of 2018 so far for companies with current market caps of at least $200 million and that have a significant focus on the cannabis industry.
How have these stocks Growth emerged as the top year-to-date performers? And are these hot marijuana stocks smart picks now? Here’s what you need to know.
Top 5 Warren Buffett Stocks To Watch For 2019: Innovate Biopharmaceuticals, Inc.(INNT)
Innovate Biopharmaceuticals stock skyrocketed 75% this week. Even before this big move, Innovate was already the best-performing biotech stock of the first half of 2018. Its recent gains cemented its spot at the top.
The company had a couple of developments this week that helped boost its share price. On Monday, Innovate announced that it was being added to the Russell 3000, Russell 2000, and Russell Microcap indexes. The biotech also announced on Thursday that it had entered into a research and development collaboration with O. Colin Stine at the University of Maryland School of Medicine. Stine plans to study Innovate’s lead candidate, larazotide acetate, in correcting the dysfunctional intestinal barrier and the dysfunctional microbiome.
Innovate hopes to advance larazotide acetate to a phase 3 clinical study targeting treatment of celiac disease. The drug has also attracted considerable interest due to its potential in treating other inflammatory diseases, especially nonalcoholic steatohepatitis (NASH).