In a volatile market caught up in a correction cycle, it can be difficult for marijuana stock investors to balance out their portfolio. As FOMO investors continue to drive prices down and converge against pot stock analysts stll bullish on the market, picking the right cannabis stock to beef up a portfolio may seem a daunting task.
But the market is still has some pot stock plays worth looking into; some that can even keep a portfolio afloat during volatile shifts. Here are three marijuana stocks to balance your weak portfolio:
Hiku Brands Company Ltd.
When DOJA Cannabis Company Ltd. and TS Brandco Holdings Inc. (Tokyo Smoke) came together to form Hiku Brands Company Ltd. (CSE:HIKU), cannabis found its first marijuana stock with the branding power of Starbucks.
Combining well-known brands like DOJA, Tokyo Smoke, and Van der Pop under one retail umbrella, the company positioned itself to become the ultimate consumer-focused pot stock with an eye on contemporary demographics.
"Today, I am proud to stand with a team of incredibly talented and thoughtful business partners as we launch Hiku and create the first great cannabis brand house." remarked Alan Gertner, Chief Executive Officer of Hiku. "A brand house, because cannabis is a consumer product, one that we believe can change the world. At Hiku, we look forward to playing a major role in driving this incredible industry forward."
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With six Tokyo Smoke cafs and one DOJA caf across Canada, Hiku’s retail footprint is impressive. Moreover, their craft-cannabis approach, with premium cannabis is grown in British Columbia's Okanagan Valley makes this weed stock the millennial of the marijuana industry.
Partnerships with Aphria Inc. (TSX: APH) (OTCQB: APHQF) and WeedMD Inc. (TSXV: WMD) solidify Hiku as the marijuana stock play for the age of legalization.
As of January Hiku’s cash position was approximately $32.6 million, bolstered by a strategic $12.5 million financing led by Aphria. With a market cap just over $220 million and a share price just over two-dollars, this small cap weed stock is poised to turn cannabis into the next local coffee shop.