4 Marijuana Stocks That Made New All Time Highs in 2019

After a brutal finish to 2018, Marijuana stocks started off 2019 absolutely on fire. The majority of Cannabis stocks have completely smoked the market and left investors sitting with substantial gains. Most of you probably believe the stocks on this list would include Canopy Growth (TSX: WEED) (NYSE: CGC), Aurora Cannabis (TSX: ACB) (NYSE: ACB) and The Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF), to name a few. But you would be wrong. Even though the aforementioned stocks have been red hot to start the year, their share prices have not been able to reach new all-time highs.

Without further ado let’s jump into our list of Marijuana stocks whose share price reached and closed at an all-time high in 2019.

#1. Cronos Group Inc. (TSX: CRON) (NASDAQ: CRON)

The first stock on our list should surprise no one. Most would consider Cronos Group as part of the big three Canadian licensed producers. After inking a massive deal with Altria Group (NYSE: MO) in early December 2018 and closing the deal on February 21st, the stock has been on an absolute tear. You could argue that Cronos Group‘s deal with Altria was the catalyst that lit a fire under the Cannabis sector’s ass.

After opening at $13.97 on January 2, 2019, Crono’s stock reached a new all-time high of $32.95 on February 4. The stock ended up closing that day at $30.57 for it’s highest ever closing price. This massive run to start the year left investors with a potential ROI of 135%. Not bad at all for only a single month’s return.

Source: Barchart

#2. Innovative Industrial Properties Inc. (NYSE: IIPR)

Innovative Industrial Properties is a bit of a different stock than what most of us are used to. IIPR is actually considered a REIT and describes themselves as a pioneering real estate investment trust focused on the medical cannabis industry. A REIT by definition is a corporation that combines the capital of many investors to acquire income-producing real estate.

IIPR has flown under many investors’ radar and in 2019 alone has soared over 81% after reaching an all-time high on February 28th of $81.60. The stock actually closed at an all-time high the day before on February 27th at a price of $79.48. IIPR opened trading on January 2, 2019, at $44.95. With gains like this more people should be paying attention to IIPR.

Source: Barchart

#3. GW Pharmaceuticals plc (NASDAQ: GWPH)

The third stock on our list is none other than pot stock OG GW Pharma. When you think of top Marijuana stocks, GW Pharma has to be on your short list. GWPH made major headlines in 2018 when their drug Epidiolex became the first ever Cannabis derived CBD drug to receive FDA approval. This landmark announcement is not what sparked GW’s recent surge up the charts. On February 26, 2019, GW Pharma released its quarterly earnings and announced a 67% increase in revenue bolstered by the start of their Epidiolex sales.

News of GW’s strong financial results caused investors to flock to GWPH and the stock to surge. GWPH carried this momentum into this week and actually hit their all-time high of $182.23 today. The stock was not able to hold onto all of today’s gains and closed trading $176.43. Because of this small pullback, GW’s all-time high close was Friday, March 1, 2019, when it closed the day at $177.34. Investors who were fortunate enough to ride GW’s wave realized potential gains of up to 89% in 2019 alone.

Source: Barchart

#4. MediPharm Labs Corp. (TSXV: LABS) (OTCQB: MLCPF)

Last but certainly not least, we wrap up our list with the new kid on the block MediPharm Labs. A relative newcomer to the scene, LABS has wasted no time making a name for itself and fattening investors trading accounts in the process. The Cannabis extraction specialists made a couple of big announcements in February which helped further propel their stock to new all-time highs. On February 12, 2019, LABS announced it had signed a $35 million Cannabis oil sale agreement. To follow that up, on February 21st the company announced its first international agreement with AusCann Group to export Cannabis oil to Australia.

To say investors responded to these announcements positively would be an understatement. There has been so much enthusiasm behind LABS that the stock has been able to carry this momentum into today’s trading session where it was able to reach a new all-time high of $3.42. Like GWPH, LABS was unable to hang onto all of its gains today as the stock slightly dipped below its all-time high close of $3.23 set in the previous trading session. In 2019 alone, LABS has produced potential gains for investors of over 103%. With all eyes on the Cannabis extraction sector, this is most likely just the beginning of LABS meteoric rise to the top.

Source: Barchart

*Updated March 5, 2019, 12:00 pm EST

#5. Organigram Holdings Inc. (TSXV: OGI) (OTCQX: OGRMF)

After releasing this article last night and reading the comments on social media it was brought to our attention by an investor on our Facebook page that we missed including Organigram on this list. Thank you to Colin MacKay for bringing this to our attention. We have been tracking OGI for a long time and simply overlooked it while putting together this article. To show our appreciation for pointing this out we will be sending Colin a brand new Adidas Cannabis Investor golf shirt. Thanks again Colin for your support.

OGI opened trading on January 2, 2019, at $4.79 and immediately began its ascent towards a new all-time high. OGI’s stock received an extra boost on February 26th when the company announced it signed an LOI with the Quebec government to supply Cannabis to the province. This was a big milestone for OGI as it is now fully established in all 10 Canadian provinces. OGI was able to carry this momentum into this week and as of the time of this writing on March 5th the stock has reached a new all-time high of $9.50. It is also highly likely that OGI will close trading today at a new all-time high closing price. Investors who had the fortitude to load up on OGI when the market was in the shitter were able to realize potential gains of over 98% in 2019 alone.