GWPH - GW Pharmaceuticals Just Unlocked a Significant Growth Opportunity
Investors looking to capitalize on the growing popularity of medical marijuana may want to consider buying shares of GW Pharmaceuticals (NASDAQ: GWPH). While the company may not want to refer to itself as a cannabis stock, it's definitely benefiting from the soaring sales growth of its drug Epidiolex. The first (and so far, only) drug derived from cannabidiol (CBD) that's been approved by the U.S. Food and Drug Administration, Epidiolex has helped put the company on the map.
The stock was up more than 90% this year before a big market correction sent many cannabis and cannabis-related stocks plummeting over the past several months, as investors opted for less risky investments. However, GW Pharmaceuticals is not nearly as risky as other marijuana stocks, and it could be poised for significant growth.
Last month, the company found out Epidiolex would be approved in Europe as a treatment option for certain forms of epilepsy.