Not everybody wants to throw thousands of dollars into marijuana stocks. Some beginner investors are looking to throw in an even $100 and see what happens. But what if you wanted to buy $100 worth of GW Pharmaceuticals Plc. (NASDAQ:GWPH)?
Through a traditional online broker like E*Trade or Ally, that could be difficult given the fact that shares of GWPH closed the recent session at over $116 per share. On the other hand, buying fractional shares of GWPH is easy with Stockpile.
What if you wanted to give the gift of $100 worth of GWPH, rather than buy it for yourself? That too would be quite difficult with traditional online brokers, buy quite easy with Stockpile.
What is Stockpile?
For those who are unfamiliar with Stockpile, it is the only brokerage where you can give an e-gift or physical gift card redeemable for stock. Instead of having to buy an entire share, you can invest or gift any amount you want.
This is great for those who are new to investing, since many top stocks are pricey, which makes it hard to get started. Let's say Amazon was trading at $1,000 per share. At Stockpile, you could buy $100 of Amazon and get 0.1 shares.
In the example above with GW Pharmaceuticals at $116 per share, you could buy $100 worth to get just over 0.86 shares.
The ability to buy and gift dollar amounts of top stocks makes Stockpile very useful around holidays, birthdays, and more.
8 Marijuana Stocks You Can Buy on Stockpile
When it comes to stock availability on Stockpile, there's over a thousand to choose from. That being said, there's still a bunch of marijuana-related stocks missing like 22nd Century Group, Inc. (NYSE:XXII), India Globalization Capital, Inc. (NYSE:IGC) and more.
To save you the trouble, we've compiled and verified a list of marijuana stocks available on Stockpile (in alphabetical order):
Cara Therapeutics, Inc. (NASDAQ:CARA): Cara Therapeutics is a late-clinical stage biotechnology company focused on developing novel means for treating pain and pruritus. It is also working to develop another pain managing therapeutic targeting cannabinoid receptors, which is currently pre-clinical with positive early data. Peripheral CB receptor modulators will be initially developed as a novel therapeutic approach for neuropathic pain, a condition currently without consistently effective therapies. Cara’s most advanced CB compound, CR701, is in preclinical development.
Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP): Corbus' drug, called "anabasum," is a "novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes." As a endocannabinoid-mimetic drug, it binds with the body's cannabinoid receptors in order to take effect. By binding to the CB2 receptors on immune cells and fibroblasts, anabasum is far more effective in treating rare, chronic, serious inflammatory and fibrotic diseases.
Cronos Group Inc. (NASDAQ:CRON) (TSXV:CRON): Cronos Group is a globally diversified and vertically integrated cannabis company with a presence across four continents. The company operates two wholly-owned Canadian Licensed Producers regulated under Health Canada's Access to Cannabis for Medical Purposes Regulations. Cronos also has multiple international production and distribution platforms including Germany, Israel and Australia.
GW Pharmaceuticals Plc. (NASDAQ:GWPH): GW Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. GW, along with its U.S. subsidiary Greenwich Biosciences, is advancing an orphan drug program in the field of childhood-onset epilepsy with a focus on Epidiolex (cannabidiol), for which GW has submitted regulatory applications in the U.S. and Europe for the adjunctive treatment of Lennox-Gastaut syndrome and Dravet syndrome.
Innovative Industrial Properties, Inc. (NYSE:IIPR): Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc. intends to elect to be taxed as a real estate investment trust.
Insys Therapeutics Inc. (NASDAQ:INSY): Insys Therapeutics is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems of therapeutic molecules. Insys' CBD oral solution is currently undergoing a Phase 2, open-label, dose-finding study that aims to assess the efficacy, safety, tolerability and pharmacokinetics (PK) of the novel product candidate.
The Scotts Miracle-Gro Company (NYSE:SMG): Hawthorne Gardening Company, the subsidiary of Scotts Miracle-Gro that focuses on the ancillary agricultural technology side of the cannabis industry, is a house of brands that provide an incredible array of tools for a multitude of cultivation needs. Its portfolio includes General Hydroponics, Can-Filters, Botanicare and more.
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE): Zynerba Pharmaceuticals (NASDAQ:ZYNE) is a clinical-stage specialty pharmaceutical company dedicated to developing and commercializing innovative pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric diseases with high unmet medical needs. We are dedicated to improving the lives of people with severe health conditions by developing cannabinoid medicines designed to meet the rigorous efficacy and safety standards established by global regulatory agencies. Through the discovery and development of these potentially life-changing medicines, Zynerba seeks to improve the lives of patients battling severe, chronic health conditions including Fragile X syndrome, refractory epilepsies, Tourette Syndrome, and other neuropsychiatric disorders.
Is Stockpile Legit?
Last but not least, we wanted to answer the question "is Stockpile legit?" The answer is yes. Not only does Stockpile protect your sensitive personal information using 256-bit encryption, they also protect you a few other ways.
Stockpile Investments, Inc. is a member of the Securities Investor Protection Corporation, which protects customer accounts up to $500,000 (including $250,000 of cash).
Additionally, Stockpile Investments, Inc. is also a member of Financial Industry Regulatory Authority, Inc., which means you can check its background on FINRA’s BrokerCheck.
This article mentioned just a few of the over 200 marijuana stocks that are out there. Before making a decision, investors should seek professional financial advice regarding the appropriateness of investing in any of the companies mentioned.
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