5 Most Undervalued Pot Stocks To Buy According To Hedge Funds

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1. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 77

Forward P/E as of February 6: 8.05

Pfizer Inc. (NYSE:PFE) made it to our list of undervalued pot stocks because the company entered the cannabis space when it bought Arena Pharmaceuticals last year for $6.7 billion. Arena Pharmaceuticals had a pipeline dedicated to cannabinoid-type therapeutics. Analysts believe Pfizer Inc. (NYSE:PFE) could expand its presence in the lucrative cannabis market in the future as legal structure around cannabis gets more visibility.

Pfizer Inc. (NYSE:PFE) is a strong dividend payer and the stock’s PE ratio stands at 8.05 as of February 6. Pfizer Inc. (NYSE:PFE) is also one of the most popular stocks among hedge funds. Of the 920 funds tracked by Insider Monkey, 77 hedge funds reported owning shares in Pfizer Inc. (NYSE:PFE) at the end of the third quarter of 2022.

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