Hemp has a wide range of medical, structural, and dietary applications and is regarded as a sustainable and profitable crop due to its numerous plant-based applications. The hemp business is booming, thanks to major investment from government and private subsidies for hemp research and applications. The $10 million grant from the United States Department of Agriculture was one of the most notable this year. According to Statista, sales of hemp-based products are predicted to reach $2.61 billion by 2022.
Insider Monkey analyzes the list of the 11 best hemp stocks to buy now. Aurora Cannabis Inc. is a cannabis-based products distributor established in Canada. In Uruguay, the company’s approach is only focused on medical cannabis. Citadel Investment Group’s Ken Griffin is a major shareholder in the company, owning 988,342 shares worth $8.9 million. Sundial Growers Inc. was owned by 10 hedge funds out of the 873 monitored by Insider Monkey for a total of $76.5 million. This compares to 7 hedge fund investors with $1.88 million in investments in the previous quarter. Innovative Industrial Buildings, Inc. is a California-based firm that acquires, owns, and manages industrial properties for their regulated cannabis and hemp facilities. On the list of the top 11 hemp stocks to purchase right now, the company is ranked ninth. Canopy Growth Corporation is an Ontario-based cannabis and hemp-based product producer and distributor for recreational and medical purposes. On the list of the 11 best hemp stocks to purchase right now, the company is ranked eighth. Tilray, Inc. is a cannabis and industrial hemp-focused pharmaceutical firm. On a year-to-date basis, the company’s stock has increased by 16 percent. On the list of the 11 best hemp stocks to purchase right now, the company is ranked seventh. For more details, click 11 Best Hemp Stocks To Buy Now.
