These Are The Top 4 Marijuana Stocks To Buy On The Dip Right Now

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Reports surfaced Tuesday that Canopy Growth Corp. failed to defend the company’s 50-day moving average, triggering a panicked sell-off that affected the entirety of the marijuana stock market. Pot stock giants Aurora Cannabis and MedReleaf quickly began to lose ground along with the rest of the weed stock market, as Canopy became the last cannabis stronghold to fall to market forces.

Still, where negativity resides positivity grows and in the current marijuana stock market, dips and corrections are cause to buy. Now is the time for investors to re-evaluate their portfolios because, with some developments on the horizon, prices will not stay this low forever. These are the top four marijuana stocks to buy on the dip right now.

iAnthus Capital Holdings Inc.

When Canaccord Genuity placed iAnthus Capital Holdings Inc. on its list for top picks of 2018 earlier this year, marijuana stock investors swooned over the potential of this pot stock buy, especially as analyst Matt Bottomley predicted a target price of CAD$3.90 per share. By the end of January, the U.S. based company, a self-described “best-in-class” licensed cannabis cultivation, processing and dispensary facility operator soared past the target, hitting a near all-time high of $5.50 per share.

Currently sitting at $3.08 per share, iAnthus, like most cannabis stocks, fell victim to the current market correction and other outside forces presently dragging down the industry. Still, recent moves prove iAnthus to be a weed stock to buy, and at current lows now may be the best time. The company announced at the end of February that its 100 percent owned subsidiary Citiva Medical, LLC signed a lease for a new dispensary in Brooklyn, giving them substantial market share in the country’s most populated city.

“We continue to hold the view that 2018 will be a banner year for the company as its crown jewel assets in Massachusetts and New York are expected to make meaningful contributions by the back half of the year,” said Bottomley for Canaccord Genuity. “… we believe iAnthus is laying a strong foundation to gain a sizable East Coast presence heading into 2018.”

Holding one of only ten medical marijuana “Registered Organization” licenses in the state of New York gives iAnthus more opportunity than most in the Northeast part of the country. At just over $3.00 per share right now, this marijuana stock pick offers investors more opportunity than most as well.

Cronos Group Inc.

Media darling and marijuana stock favorite Cronos Group Inc. made headlines this year when the company became the first pure-play marijuana stock to trade on an American exchange. Envy ran through the industry as rivals Canopy Growth Corp. and Aurora Cannabis immediately took to the press and social media to float uplisting plans of their own. Unfortunately for weed stock investors, after a brief uptick, share prices went down despite the groundbreaking news.

Recently, Cronos announced a large bought-deal financing which the company hopes to use to fund much of its foray into the international market. Moreover, they recently joined forces with California’s top cannabis retail chain, MedMen, to bring the brand across the border to Canada, making this pot stock one to buy on the dip.

“MedMen stores have been integral to mainstreaming cannabis, and they have become one of the most well-known and respected cannabis platforms in the U.S. We’re very excited to bring the MedMen experience to Canada,” said Cronos CEO Mike Gorenstein. “Cronos is focused on changing the perception of cannabis on an international scale, and we prioritize working with best-in-class partners who share our vision for the future.”

Reports show analysts still rating Cronos either a “buy” or “strong buy” despite the recent shock to weed stock prices. Most would agree this media darling is a marijuana stock market darling as well.

MPX Bioceutical Corporation

A perennial favorite, MPX Bioceutical Corporation received a $1.15 target price from Canaccord Genuity late last month, with a “speculative buy” rating. As reported recently, MPX projects $40 million in revenue from their Arizona holdings throughout 2018. WIth revenues split among flower, concentrates, and other avenues, this company is a diversified investment that should be at the top of every cannabis stock buy list. Sitting around $0.73 per share right now, this marijuana stock’s focus on lucrative capital investments in higher margin extracts makes them an exciting play during the current dip.

Aphria Inc.

Despite a continuous downtrend for this hard-luck marijuana stock these days, it is hard to count out one of Canada’s top Licensed Producers. Aphria Inc. continues to make deals and bring in revenue, most notably with recent announcements in the international arena. Still, investor panic and conspiracy-level theories plague this Canadian cannabis giant, who, investors would be keen to remember has the third largest market cap behind Canopy and Aurora. For those cannabis stock investors with faith, now is the time to buy Aphria on the dip.