5 Best Hemp Stocks to Buy Now

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1. Philip Morris, Inc. (NYSE:PM)

No of HFs: 50

Total Value of HF Holdings: $2.63 Billion

The top hemp stock to buy now is PM. The top hedge fund holder of this stock is Donald Yacktman’s Yacktman Asset Management which had over $1 million invested in the stock at the end of September. An insider recently purchased 500 shares at around $78 in May 2019. The stock is up 6% since then. PM was mentioned in an article we published about the 15 Best Tasting E-juice E-liquid Flavors For Beginners. First Eagle Investment Management mentioned the stock in its Q2 2020 investor letter:

“Philip Morris was able to recover some of the ground lost during the first quarter selloff but remains well below its early-year highs. Tobacco industry volumes were hurt by Covid-19, as lockdowns and other social-distancing restrictions in certain key markets hurt demand. Duty-free sales also suffered given the lack of global travel during the period. Given its pricing power, cost discipline and robust balance sheet, we believe Philip Morris appears well positioned to navigate the ongoing transition from traditional combustible tobacco products to “heat not burn” alternatives.”

Please also see Top 10 Sin Stocks to Buy Now and 10 Best Technology Stocks That Pay Dividends.

Disclosure: No positions.

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