After four more states ended marijuana prohibition in Tuesday’s election with California (the biggie), Massachusetts, Maine and Nevada legalizing its use, there is increased interest in the stocks in the sector.
Many are small and speculative almost beyond belief. No doubt several will someday be big winners but the for now leader in the sector is GWPH.
Here is a description of the company (borrowing from Yahoo finance, https://finance.yahoo.com/quote/GWPH/profile?p=GWPH):
GW Pharmaceuticals plc, a biopharmaceutical company, together with its subsidiaries, engages in discovering, developing, and commercializing cannabinoid prescription medicines. It operates through three segments: Commercial, Sativex Research and Development, and Pipeline Research and Development. The company primarily offers Sativex, an oromucosal spray for the treatment of spasticity due to multiple sclerosis. It also focuses on the Phase III clinical development program of Sativex for use in the treatment of cancer pain; and Phase 2 trials in other indications, such as neuropathic pain. In addition, the companys product pipeline includes Epidiolex, a treatment for Dravet syndrome and Lennox-Gastaut syndrome, as well as other product candidates in Phase 1 and 2 clinical development for the treatment of glioma, adult epilepsy, type-2 diabetes, and schizophrenia. It operates in the United Kingdom, Europe, the United States, Canada, and Asia. GW Pharmaceuticals plc was founded in 1998 and is based in Cambridge, the United Kingdom.
And technically speaking, the stock is strong. Swing traders may want to just follow the blue 5-day exponential average to move in and out to reduce risk.
(right click on the chart for a larger view)