Cannabis beverage stocks to be on the lookout for in 2019

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Cannabis beverage stocks to be on the lookout for in 2019

Bethan Rose Jenkins, Cannabis News Writer/Editorial

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With cannabis legalization spreading across North America quite rapidly, it’s not surprising that pot producers are getting creative with consumption methods. Welcome the rise of cannabis beverage stocks.

Cannabis-infused drinks are the latest trend to sweep across the world of legal weed, with investment firm Canaccord Genuity predicting this segment of the market will yield $600 million in the U.S. by 2022.

Promising predictions like this are steering investor behavior and 2019 is geared up to be an interesting year for the cannabis-infused drinks market. If you’re thinking about investing, take note of the following cannabis beverage stocks that may be worth funneling your money into this year.

Top cannabis beverage stocks to own in 2019

A plethora of options awaits anybody who is keen to reap the financial rewards of legal weed. Cannabis-infused concoctions are being created left, right and center. The following three pot stocks ooze profit potential for the coming year:

Canopy Growth (NYSE:CGC

Boasting a market cap of $10.6 billion, Canopy Growth has solidified its move in the cannabis beverages stock market. Back in August of last year, Constellation Brands increased its ownership of Canopy from 9.9 percent to 38 percent. With a $4 billion investment to produce cannabis-infused drinks and a listing on the NYSE, this pot stock is certainly one to watch in 2019.

Hexo (NYSEMKT:HEXO)

This Canadian cannabis cultivator has a much smaller market cap than Canopy Growth at $740 million. However, Hexo positioned itself as a pioneer in the cannabis beverage stock market when it announced a joint venture with Molson Coors Brewing (NYSE:TAP) last August to develop and market cannabis-infused beverages throughout Canada. What’s more, this pot stock trades at higher sales rates than Canopy.

Aphria (NYSE:APHA)

Whilst Hexo and Canopy were busy snapping up deals to produce weed-infused drinks, Aphria was busy teaming up with Perennial Inc. The partnership will combine Aphria’s top-class cannabis production with Perennial’s brand-building expertise for the creation of cannabis-infused products. Aphria’s market cap stands at $1.4 billion.

“We are incredibly focused on developing the innovative products of tomorrow that will revolutionize the way adult consumers integrate cannabis into their lives,” said the Chief Commercial Officer of Aphria, Jakob Ripshtein. 

Being cautious about cannabis beverage stocks

Monitoring the stock market and staying abreast of changes in the world of weed will grant you a better understanding of which cannabis beverage stocks will float and which will sink. As the hype floating around cannabis-infused drinks seeps further into the industry at large, more brands are expected to emerge in this segment of legal weed.

Although speculation still surrounds the weed-laced drinks market, even major drinks companies like Coca-Cola and PepsiCo are pondering over the thought of pot-permeated beverages, and why not? They are convenient, portable and provide a swift method of delivery for anyone who wants to experience the plant’s therapeutic powers without smoking.