The first quarter and beyond saw marijuana stocks rocked off of the high perch they reached near the end of last year. Price run-ups, likely caused by the synchronized excitement of legalization efforts between California and Canada kept pot stock investors giddily wondering to what heights the sector would reach.
Then came the correction, leading most cannabis stock investors to hope for the bottom to flatten out while sending the FOMO crows heading for the hills. Panicked investors sent the whole sector on a downward trend. But several weed stocks remain undervalued and remain prime targets for those investors willing to let things play out long-term. Here are the most undervalued cannabis stocks of 2018:
MPX Bioceutical Corporation
The recent acquisition of Licensed Producer Canveda Inc. by MPX Bioceutical Corporation (CSE:MPX) (MPXEF) has at least one analyst maintaining a bullish outlook on the company. Capable of producing nearly 1200 kg of cannabis flower annually, the addition of Canveda to the MPX roster gives the Ontario-based pot stock a diversified cross-border portfolio of holdings.
“We have always considered a Canadian presence to be a critical component of our business strategy,” MPX CEO Scott Boyes said in a statement. “While we have never intended to build out the massive cultivation facilities being constructed by