Welcome one and all, Inside Alpha watchers! We’re so glad to see you – are you ready to see how our stock picks are doing? Here’s the scoop: every week at Inside Alpha we carefully choose three stocks in a particular sector and check on their progress throughout the trading week.
As we come to the end of the week, we will announce the winner according to percentage gain, and that winner will be known as the Alpha. For this week, we have selected three stocks in the cannabis (and related products and services) sector, and we’ll be updating on the progress of those marijuana stocks all week long.
Please note that for Canadian stocks that have both Canadian and U.S. versions, I will use the Canadian version, but the U.S. version will likely have similar results on a percentage gain-or-loss basis. We won’t keep you in suspense any longer – here are the three cannabis stock picks!
We started out the week’s cannabis-sector selections with Tilray, Inc. (TLRY). Located in Nanaimo, British Columbia, Canada, Tilray, Inc. is involved in the research, cultivation, processing, and distribution of medical cannabis.
Taking a look, the stock price, shares of Tilray, Inc. stock finished last week at $75.13, and at the finish of the trading day on Tuesday, TLRY shares were $76.50, for a gain of 1.8%. That’s not a bad start at all and could indicate even better things in the near future.
Our next pick among cannabis-sector stocks this week has been Organigram Holdings Inc. (TSX-V:OGI, OTC:OGRMF). Based in Moncton, Canada, Organigram Holdings Inc. is a licensed producer and seller of medical marijuana to both individuals and physicians throughout Canada.
We noted that OGI stock shares had closed on Friday at CAD$4.88, and when the closing bell rang on Tuesday, Organigram Holdings Inc. shares were CAD$4.75, representing a loss of 2.6%. This is normal price variation for cannabis stocks, and OGI could easily recover from here.
To finish up the week’s cannabis-stock selections, we chose to focus on Agritek Holdings, Inc. (AGTK). Headquartered in Miami, Florida, Agritek Holdings provides a variety of services to the U.S. cannabis industry, including consulting, property leasing, marketing, and payment processing.
Shares of Agritek Holdings, Inc. stock closed at $0.0074 on Friday, and at the end of the trading day on Tuesday, AGTK stock was $0.006, signifying a loss of 19%. We’ll see if Agritek Holdings, Inc. shares can recover from this loss in the coming days.
We will continue watching and reporting on these three cannabis sector selections, and the final declaration of the Alpha stock pick of the week is coming soon.
Also, we’re always trying to improve our service to you, so please do not hesitate to let us know if you’re profiting from our weekly stock picks and what we can do to improve them.
Until next time, happy trading and we’ll see you again soon!