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13 Best Hemp Stocks To Buy Now

In this article, we discuss the 13 best hemp stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to 5 Best Hemp Stocks To Buy Now

There is little doubt that emerging trends in the cannabis industry indicate that the hemp market is poised to benefit from secular growth trends in the coming months driven by favorable legislation and increased medical usage of marijuana. Top hemp companies like Tilray Brands, Inc. (NASDAQ:TLRY), Innovative Industrial Properties, Inc. (NYSE:IIPR), and Canopy Growth Corporation (NASDAQ:CGC), among others discussed in detail below, are some of the stocks that investors should monitor in this context moving into 2024. 

The hemp industry has made formidable strides since the Farm Bill was signed into law more than five years ago. The bill removed hemp from a list of controlled substances, ushering in a new boom for hemp companies. Additional context is important here. Hemp, a fast-growing plant, is another name for cannabis, and is not only used in cannabis products, but has a variety of uses. Hemp can be spun into fibre and used in the making of rope, strong fabrics, plastics, and even automobile parts. 

According to a report by research firm Markets and Markets, the global hemp industry was valued at close to $7 billion at the end of last year and is expected to reach a size of more than $18 billion by the end of 2027, growing at a compound annual growth rate of over 21%. Some of the emerging trends in the hemp marketplace that investors should monitor closely include the rise in cannabis-based food and drink products, the shift towards digital sales, and the emergence of new cannabis startups that challenge established businesses. 

David Klein, the CEO of Canopy Growth Corporation (NASDAQ:CGC), a prominent hemp firm, recently said during the second quarter earnings call that the company has moved to focus on cannabis products that are anchored by strong fundamentals. He outlined how the company could now afford to focus on driving growth for the core business. He noted that actions taken to make the balance sheet of the cannabis firm had delivered, making the stock more attractive for long-term value investors. He also noted the opportunity to expand in foreign markets.

“In our other international markets, including Germany, Poland, and the Czech Republic, we believe there is an opportunity for Canopy to grow share, leveraging the quality of the products that our Canadian platform is producing; ensuring consistent supply; advance routes to market; and better consumer engagement. As an example, to capitalize on this opportunity, we are shipping five new flower SKUs, cultivated in our newly EU GMP-certified Kincardine facility to international markets during Q3. Finally, Storz & Bickel recently launched its new Venty portable vaporizer, a device that sets industry standards for portable performance, including adjustable airflow up to an industry-leading 20 liters per minute and a rapid 20-second heat-up time. Storz & Bickel is now focused on following up the limited initial batch with broader commercial availability to meet the demand for this industry-leading device, as well as preparing for holiday promotions, including Black Friday, which are expected to drive sales across the brand’s product lineup.”

Our Methodology

The companies that operate in the hemp sector were selected for the list. Data from around 900 elite hedge funds tracked by Insider Monkey in the third quarter of 2023 was used to identify the number of hedge funds that hold stakes in each firm.

Kacenki/Shutterstock.com

Best Hemp Stocks To Buy Now

13. Cresco Labs Inc. (OTC:CRLBF)

Number of Hedge Fund Holders: N/A      

Cresco Labs Inc. (OTC:CRLBF) cultivates, manufactures, and sells retail and medical cannabis products in the United States. On November 15, Cresco Labs Inc. (OTC:CRLBF) posted earnings for the third quarter of 2023, reporting a revenue of more than $190 million, beating market estimates by over $7 million. 

Just like Tilray Brands, Inc. (NASDAQ:TLRY), Innovative Industrial Properties, Inc. (NYSE:IIPR), and Canopy Growth Corporation (NASDAQ:CGC), Cresco Labs Inc. (OTC:CRLBF) is one of the best hemp stocks to buy now. 

12. SNDL Inc. (NASDAQ:SNDL)

Number of Hedge Fund Holders: 3      

SNDL Inc. (NASDAQ:SNDL) is a Canada-based firm that markets cannabis products. On November 20, SNDL Inc. (NASDAQ:SNDL) announced that it had terminated a strategic partnership with Nova Cannabis amid regulatory hurdles to the deal. 

At the end of the third quarter of 2023, 3 hedge funds in the database of Insider Monkey held stakes worth $1.3 million in SNDL Inc. (NASDAQ:SNDL), compared to 2 the preceding quarter worth $1.2 million.

11. Clever Leaves Holdings Inc. (NASDAQ:CLVR)

Number of Hedge Fund Holders: 4  

Clever Leaves Holdings Inc. (NASDAQ:CLVR) operates in the botanical cannabinoid and nutraceutical industries. Clever Leaves Holdings Inc. (NASDAQ:CLVR) stock has rallied over the past month, returning more than 25% to investors as hopes on cannabis legalization in Germany as well as more states in the United States continue to rise. 

At the end of the third quarter of 2023, 4 hedge funds in the database of Insider Monkey held stakes worth $10,000 in Clever Leaves Holdings Inc. (NASDAQ:CLVR), compared to 6 in the previous quarter worth $351,000.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Clever Leaves Holdings Inc. (NASDAQ:CLVR) with 29,489 shares worth more than $98,000.

10. Organigram Holdings Inc. (NASDAQ:OGI)

Number of Hedge Fund Holders: 4   

Organigram Holdings Inc. (NASDAQ:OGI) engages in the production and sale of cannabis and cannabis-derived products in Canada. On December 19, Organigram Holdings Inc. (NASDAQ:OGI) posted earnings for the fourth quarter of 2023, reporting a revenue of more than C$46 million, up over 1% compared to the revenue over the same period last year. 

At the end of the third quarter of 2023, 4 hedge funds in the database of Insider Monkey held stakes worth $336,000 in Organigram Holdings Inc. (NASDAQ:OGI), compared to 5 in the previous quarter worth $808,000.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm D E Shaw is a leading shareholder in Organigram Holdings Inc. (NASDAQ:OGI) with 162,425 shares worth more than $215,000.

9. Village Farms International, Inc. (NASDAQ:VFF)

Number of Hedge Fund Holders: 4 

Village Farms International, Inc. (NASDAQ:VFF) markets agricultural products. On November 8, Village Farms International, Inc. (NASDAQ:VFF) posted earnings for the third quarter of 2023, beating market estimates on earnings per share by $0.03 and reporting a revenue of more than $69 million.  

At the end of the third quarter of 2023, 4 hedge funds in the database of Insider Monkey held stakes worth $243,000 in Village Farms International, Inc. (NASDAQ:VFF), compared to 5 in the preceding quarter worth $250,000. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in Village Farms International, Inc. (NASDAQ:VFF) with 209,995 shares worth more than $167,000.

8. Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM)

Number of Hedge Fund Holders: 6    

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) makes and sells agricultural equipment and supplies. Earlier this year, Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) announced that it had entered into an exclusive strategic alliance with CEA Advisors. The alliance aims to accelerate expansion into the growing and evolving CEA space for both food and non-food production. 

At the end of the third quarter of 2023, 6 hedge funds in the database of Insider Monkey held stakes worth $1.6 million in Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM), compared to 5 the preceding quarter worth $1.4 million.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) with 545,884 shares worth more than $655,000.

7. GrowGeneration Corp. (NASDAQ:GRWG)

Number of Hedge Fund Holders: 7   

GrowGeneration Corp. (NASDAQ:GRWG) owns and runs retail hydroponic and organic gardening stores. On November 8, GrowGeneration Corp. (NASDAQ:GRWG) posted earnings for the third quarter of 2023, reporting a revenue of more than $55 million, beating market expectations by over $1 million. 

At the end of the third quarter of 2023, 7 hedge funds in the database of Insider Monkey held stakes worth $3.2 million in GrowGeneration Corp. (NASDAQ:GRWG), the same as in the previous quarter worth $7.8 million.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm D E Shaw is a leading shareholder in GrowGeneration Corp. (NASDAQ:GRWG) with 619,847 shares worth more than $1.8 million.

6. Cronos Group Inc. (NASDAQ:CRON)

Number of Hedge Fund Holders: 8  

Cronos Group Inc. (NASDAQ:CRON) makes and sells hemp-derived supplements and cosmetic products. On November 8, Cronos Group Inc. (NASDAQ:CRON) posted earnings for the third quarter of 2023, beating market estimates on earnings per share by $0.03 and reporting a revenue of more than $24 million. 

At the end of the third quarter of 2023, 8 hedge funds in the database of Insider Monkey held stakes worth $22 million in Cronos Group Inc. (NASDAQ:CRON), the same as in the previous quarter worth $20 million.

Among the hedge funds being tracked by Insider Monkey, Maryland-based investment firm Chescapmanager LLC is a leading shareholder in Cronos Group Inc. (NASDAQ:CRON) with 8.3 million shares worth more than $16 million.

In addition to Tilray Brands, Inc. (NASDAQ:TLRY), Innovative Industrial Properties, Inc. (NYSE:IIPR), and Canopy Growth Corporation (NASDAQ:CGC), Cronos Group Inc. (NASDAQ:CRON) is one of the best hemp stocks to buy now. 

Click to continue reading and see 5 Best Hemp Stocks To Buy Now.

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Disclosure. None. 13 Best Hemp Stocks To Buy Now is originally published on Insider Monkey.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
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AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

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AI needs energy. Energy needs infrastructure.

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Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

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This company is completely debt-free.

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The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

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Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

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A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…