Believe it or not, marijuana stocks proved fallible in April. Although spring typically brings the green, the Horizons Marijuana Life Sciences ETF, a broad-based cannabis fund holding around four dozen pot stocks of various weightings, lost 1.6% during the month of April.
Then again, don’t start crying the blues for pot stocks, with the Horizons Marijuana Life Sciences ETF up a cool 51% through the first four months of the year. With the cannabis industry expected to hit between $50 billion and $75 billion in annual sales perhaps a decade from now, investors are willing to overlook temporary hiccups for an opportunity to get their piece of the pie.
April’s best pot stocks
Of the 52 marijuana stocks I track, 27 ended the month of April higher, with 25 lower. But among the top performers, 10 pot stocks managed to gain at least 15% (when rounded to the nearest whole number). In descending order, here are the 10 best marijuana stocks in April:
- Valens GroWorks (NASDAQOTH:VGWCF): Up 58%
- Planet 13 Holdings (NASDAQOTH:PLNHF): Up 51%
- 22nd Century Group: Up 28%
- Neptune Wellness Solutions: Up 25%
- Constellation Brands (NYSE:STZ): Up 20%
- Flower One Holdings: Up 19%
- HEXO (NYSEMKT:HEXO): Up 19%
- Shopify (NYSE:SHOP): Up 18%
- Canopy Growth (NYSE:CGC): Up 17%
- Cresco Labs (NASDAQOTH:CRLBF): Up 15%