While the bulk of marijuana stocks can be found on the OTC markets, a few prominent players trade on the main stages of the NASDAQ and the New York Stock Exchange. Although marijuana companies on the New York Stock Exchange are few and far between, a couple of them are significant players proving to be bold moves for pot stock investors. In fact, NYSE cannabis stocks hold some of the most prominent properties in the cannabis industry.
The marijuana stocks on the NYSE range from drug companies to those in the real estate sector, to one famous company who recently decided to make a name for themselves in weed. As part of our research series on the marijuana stock market, these are the six marijuana companies that trade on the NYSE:
22nd Century Group
22nd Century Group (XXII) is a marijuana stock that first debuted on the NYSE on March 11, 2014. A biotech company, this NYSE weed stock focuses on genetic engineering and plant breeding, with a particular fixation on cannabinoid-related products that come directly from industrial hemp. However, this part-time pot stock spends a considerable amount of resources working with tobacco, most notably attempting to develop specific strains of nicotine that are “non-addictive” to comply with new FDA regulations. In 2017 22nd century harvested its first hemp crop in partnership with the University of Virginia, which was valued at $1 million. This NYSE cannabis stock has been trading at around $2.30.
Though it is one of the marijuana companies on the New York Stock Exchange that is not a pure play pick, AbbVie Inc. (ABBV) has something to which fellow pot stocks cannot lay claim. As a large-cap biopharmaceutical company, AbbVie developed the first cannabis-based approved by the Food and Drug Administration. Known as Marinol the drug is FDA approved for chemotherapy-induced nausea and vomiting, as well as for anorexia and to help AIDS patients resume their appetite. With few competitors on the market —the most notable is Syndros from the beleaguered INSYS — having the only approved drug of its kind in the U.S. gives this NYSE cannabis stock, a true leg up on the competition. Experts agree that AbbVie’s earnings could grow by 33 percent throughout 2018. Currently, this weed stock trades at around $112 per share.
Compass Diversified Holdings
One of the veterans of marijuana on the NYSE, Compass Diversified Holdings (CODI) first listed as a NYSE cannabis stock on May 12, 2006. By no means a pure play pick, the company keeps their focus on “middle market businesses,” that fall somewhere between mom-and-pop size companies and billion dollar entities. What allows the company to be considered one of the marijuana stocks on the NYSE is its holdings in Manitoba Harvest and Hemp Oil Canada, two food companies in the hemp space. Of all of the marijuana companies on the New York Stock Exchange, Compass Diversified Holdings has had the most significant fall from grace, declining nearly four percent in the last year alone. The company currently trades at just over $16.00 per share.
India Globalization Capital
A diversified NYSE cannabis stock, India Globalization Capital (IGC) splits its time between a legacy infrastructure and commodity trading business and a focus on treating Alzheimer’s patients through cannabis pharmaceuticals. A penny pot stock, this NYSE weed stock recently announced that it would be entering the blockchain space, which sent prices soaring for a short period before they came crashing back down. The company currently trades at $0.50 per share.
Innovative Industrial Properties, Inc.
One of the more interesting cannabis stocks on the NYSE, Innovative Industrial Properties, Inc. (IIPR) focuses on the real-estate sector of cannabis, providing capital solutions and managing free-standing properties. One of the more geographically diverse marijuana stocks on NYSE, Innovative holds properties in New York, Maryland, Minnesota, and Arizona. Recently, the company announced the purchase of new properties in Arizona. They also signed a deal with, one of the largest wholesalers of medical grade cannabis in Arizona, a subsidiary of The Pharm, to help them manage the property. Shares of this NYSE weed stock are up 44 percent over the past year. Currently, the company trades at around $26 per share.
Scotts Miracle-Gro Company
Of all the marijuana companies on the New York Stock Exchange, Scotts Miracle-Gro Co. (SMG) is probably the most well known. Originally a weed and feed outfit, this NYSE weed stock built its empire largely on grass seed, fertilizer, pesticide, and dirt through big box stores like Home Depot and Lowe's. That changed in 2013, when declining revenues during The Great Recession, saw CEO Jim Hagedorn transform the company into a pot stock on the NYSE. Scotts now owns companies that deal with cannabis growers through the sale of specialized soil and fertilizer. They also have a 75 percent stake in Gavita International, a hydroponics equipment company, which, by 2016, helped generate revenues upwards of $250 million per year. Trading at $85 per share, this NYSE cannabis stock also pays dividends, making it one of the better plays for investors.