The National Institute of Cannabis Investors says 2019 is shaping up to be a big year for CBD. That's why we're bringing you one of the best marijuana stocks to buy in 2019.
The CBD market is skyrocketing in value. Ever since hemp became legal last December, its valuation has rocketed to $591 million.
That's only the tip of the CBD juggernaut, too. The Brightfield Group estimates that the market could hit $22 billion by 2022.
That's a tremendous 3,623% advance in just a few years.
The huge increase is the reason the best weed stocks are buys. Today, we're taking a look at why CBD stocks lead the pack. Then, we're going to tell you the best marijuana stock that specializes in CBD.
The boom in CBD stocks is thanks to several catalysts. The first big one was December 2018's passage of the U.S. Farm Bill. Once the bill passed, it was legal to grow and produce hemp and to create CBD.
Now, CBD is a major North American market. And the largest catalyst is the fact that CBD isn't intoxicating like marijuana.
That means users can get the medicinal benefits of CBD without impairment. It relieves pain, inflammation, and stress, according to Healthline.
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Now, you can see CBD products on the shelves of leading retailers like Amazon.com Inc. (NASDAQ: AMZN) and Walgreens Boots Alliance Inc. (NYSE: WBA).
Marijuana is still illegal on the federal level, but CBD's booming popularity will only benefit the best marijuana stocks to buy today.
And this company just made a $100 million push into the CBD space, making it one of the best CBD stocks you'll find today...
[mmpazkzone name="in-story" network="9794" site="307044" id="137008" type="4"]Cronos Group Inc. (NASDAQ: CRON) is the best weed stock to benefit from the rapidly expanding CBD market.
CRON is based in Canada and has been in operation for six years. It's become one of the world's biggest weed companies.
But it's not all about size for this marijuana firm. CRON is incredibly innovative too.
Last year, CRON inked an agreement to make CBD oil with Gingko Bioworks. The collaboration is valued at roughly $100 million.
It also developed a new method of CBD oil production as a result.
Traditionally, you grow and cultivate hemp and cannabis. But the CRON-Gingko group began with yeast cultures and injected them with DNA strands from CBD. The result is CBD oil that is extremely pure and refined.
Plus, the method eliminates the need for extensive farmland to cultivate hemp crops.
That's not the only selling point making CRON the best marijuana company to buy today. In March, Altria Group Inc. (NYSE: MO), one of the largest global tobacco firms, invested $1.8 billion in the company.
With this infusion of cash, CRON can expand its CBD production.
In the first quarter of 2019, Cronos grew 120%. Currently, its market capitalization is $3.13 billion.
These figures are expected to rise even more. Canada's complete legalization will continue to grow the sector. Cronos expects to be active in the U.S. market and its lucrative customer base by year-end 2019.
CRON is currently trading at $9.34 per share. But with a target price of $19.46, it could climb more than 108.4%. That's what makes CRON the best marijuana stock to buy today.
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