Cannabis stocks in Australia
Cannabis stocks are a way to get your hands on the weed market legally
Recreational cannabis is still illegal in Australia, unless you live in the ACT. You can only get your hands on the drug legally if you have a prescription for medical use.But there’s another way to get some cannabis without a prescription – buy some cannabis stocks. Where can i buy weed in Australia, how to buy weed in Queensland, weed wholesale Australia, weed dealers near me, Buy cannabis in Queensland
The Australian Securities Exchange (ASX) has listed several public marijuana-related companies. That means you can actually buy some cannabis stocks without looking over your shoulder, and trade them like anything else on the ASX.
Where can i buy weed in Australia
Some cannabis stocks are promising, and others aren’t – just like everything else. Here’s a quick look at 3 Australian marijuana stocks you should check out:
- Althea Group Holdings (ASX: AGH)
This Australian company has a wide, global reach. It cultivates, produces, manufactures, and distributes cannabis products in Australia and several Canada, the UK, and Germany. AGH already has five medical cannabis products on the market.
- THC Global (ASX: THC)
An Australian company with a net asset of $28 million, building marijuana farms to supply pharmacies and others for medical cannabis products. The company has 150,000 square metres of land in Ballina for cannabis cultivation. THC Global also has The Bundaberg Facility, which is licensed for cultivation as well as research.
- Medlab Clinical (ASX: MDC)
This company’s primary focus is to research and develop bio-therapeutics for chronic diseases. Their market capitalization is around $100 million, and they have offices in multiple countries, as well as licenses. Medlab has several patents already, and have several CBD products on the market, such as NanaBidial for nausea stemming from cancer and NanaBis for chronic pain.
How quickly are these cannabis company stocks growing?
Stocks aren’t always stable, especially in a newly created market. These cannabis stocks can be volatile at times, regardless of how great their prospects may seem. For instance, while Medlab Clinical was doing great about a year ago, it has experienced some significant declines since, dropping over 30 cents per. how to buy weed in Queensland
Medlab Clinical has declined on the ASX over the past year.
But the ASX: MDC is still a good option. While the decline is evidences, it’s likely to pick up. It might be wise to buy the stock now at a lower price for a long term hold.
Althea Group Holdings hasn’t been much different. It has also been volatile, but it seems more promising now. Last year, the company’s stock peaked on the ASX, but a sharp decline followed. Earlier this year, ASX: AHG began to grow again until the coronavirus pandemic hit. During that period, there was another sharp decline, but the stock has been picking up steam since. The ASX: AHG has more than doubled between March and August of this year. Weed wholesale Australia, weed dealers near me, Buy cannabis in Queensland
ASX: AHG has more than doubled in 5 months.
Where can i buy weed in Australia
THC Global has had a similarly rocky year. It hit rock bottom on the ASX in April, falling to 20 cents. However, ASX: THC more than doubled in June to 44 cents, showing potential for great returns. But another decline followed, with the current price now at 26 cents. But this volatility might be good for the short term trader. Buying the ASX: THC now might prove gainful in a matter of weeks as the volatile stock may be due for another uptick soon.
ASX: THC seems highly volatile, which might be perfect for short term traders
Final words – How the government could boost cannabis stocks
The volatility of the ASX is normal, and even more so for cannabis stocks. Cannabis is in an uncertain state – although its legal for medical use, it remains illegal for recreational use. Also, while the ACT has legalised the drug for recreational use, the federal government could enforce its illegality at any time. And even though the crop is legal for medical use, patients are still subject to a lengthy prescription process before they can get their hands on the drug. how to buy weed in Queensland, weed wholesale Australia, weed dealers near me, Buy cannabis in Queensland
These factors need to be eased, along with the manufacturing, production, and export licence process. Simplifying cannabis trade and prescriptions will make for a market that is easier to operate in, and thereby easier to predict, even if it remains illegal for recreational use.