When it comes to finding the top marijuana stocks to watch each week, we want Money Morning readers to have an edge.
That's why we focus on news that will affect pot stock investments and relay what it'll mean for you. And to give you an even bigger advantage, we are sharing two pot stocks to watch at the start of next week.
The first pot stock we're watching next week is Rocky Mountain High Brands Inc. (OTCMKTS: RMHB).
Rocky Mountain develops, manufactures, markets, and distributes hemp-infused beverages and food products.
And on May 31, RMHB announced it will start producing a line of cannabidiol-infused (CBD) energy drinks in the next 30 days. CBD is an active cannabinoid found in marijuana that has been found to reduce anxiety.
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And by infusing it in energy drinks, the profit potential could be huge...
According to the Hemp Business Journal, sales for CBD products totaled $85 million in 2015, but will climb to over $2 billion by 2020.
That's a 2,252% increase in sales in just five years.
And according to PackagedFacts.com, the energy drink and energy shot market will be worth $21.5 billion in 2017.
In the May 31 press release, CEO Michael Welch said he will start focus groups to help with packaging of the new CBD-infused energy drinks.
He didn't provide an exact date, but the energy drinks should be available for purchase during the summer of 2017. And investors viewing the new drinks as a catalyst for increased revenue and exposure for RMHB could move the stock price next week by buying more shares.
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Shares of RMHB closed at $0.10 per share on June 1 and are up 125.58% so far in 2017.
But if you missed out on those massive gains, that's okay. We have another pot stock on our watch list that is expected to climb over 100% in the next 12 months.
Best of all, it's one of the safest marijuana stocks to own today...
One of the Top Marijuana Stocks Could Soar Over 100%
GW Pharmaceuticals Plc. (Nasdaq ADR: GWPH) is a biopharmaceutical company that discovers, develops, and commercializes cannabinoid prescription medicines. Unlike most pot stocks, it's traded on a major index, which means it is much less volatile than other pot stocks.
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But even though GWPH is traded on a major index, it still has the upside of a marijuana penny stock because of its new drug, Epidiolex.
Epidiolex is a cannabis-based epilepsy treatment that provided positive results in a phase 3 trial for Dravet syndrome, a form of child epilepsy that's highly resistant to current therapies. Epidiolex has also been an effective treatment in two phase 3 trials for Lennox-Gastaut syndrome (LGS), a severe form of epilepsy.
With positive data from the trial results, GW Pharmaceuticals plans to seek FDA approval for Dravet syndrome and LGS in the middle of 2017.
Epidiolex could launch in mid-2018, and peak sales could reach $800 million in the first year if the treatment is approved for Dravet syndrome and LGS, according to FierceBiotech.com.
Because of this almost billion-dollar revenue source, analysts who cover GWPH stock have an average one-year price target of $148.43. From today's opening price of $100.43 per share, that's a potential profit of 47.79%.
And that's just a conservative estimate...
Financial service firm Cantor Fitzgerald projects GWPH will climb to $208 per share in the next 12 months.
That's a potential profit of 107.10%.
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