Much of the excitement in the world of marijuana stocks focused on Canada in 2018. But that could change with the new year. Investors might want to look more to the U.S. in 2019 for several reasons.
The legalization of hemp (which, by definition, is cannabis that contains low levels of psychoactive compound THC) could open the way for a much larger hemp-based cannabidiol (CBD) market in the U.S. Several new marijuana markets in U.S. states should mature in 2019 -- with new markets also launching in other states. And there's a distinct possibility that efforts to revise federal laws to recognize the authority of the individual states to enforce their own marijuana laws could succeed.
But which U.S. marijuana stocks are most likely to be winners in the new year? Here's why Charlotte's Web Holdings (NASDAQOTH:CWBHF), Liberty Health Sciences (NASDAQOTH:LHSIF), and Scotts Miracle-Gro (NYSE:SMG) look like top picks to buy in 2019.