In this article, we are going to take a look at the top 5 best hemp stocks to buy now, published by Insider Monkey recently. According to Insider Monkey’s investigation, hemp is a “A dioecious plant, which means it can be separated into male and female plants. These plants have served a wide variety of purposes for more than 10,000 years: for fiber (from the plant’s stems), protein (from seeds), and oils and smokable portions (from the leaves and flowers). Hemp fibers can be used to make items including paper, clothing, furnishing fabric, rope, and building materials.”
And now, let’ see the brief summarize of Insider Monkey’s article. Turning Point Brands, Inc. stands on the fifth spot with 24 hedge funds and a total value of hedge fund holdings of $89 million. Ken Griffin’s Citadel Investment Group is the top hedge fund holder with having invested $20 million at the end of the third quarter. An insider bought 1,500 shares at around $22 in May 2020, and since then the stock has grown by 140%. TPB is involved in “active ingredients’, such as caffeine, CBD, nicotine and many others. Their Zig zag rolling paper brand has had a long-standing tradition for over 150 years,and is the best selling rolling paper brand in the world. Scott Miracle won the respectable fourth spot on the list, with 31 hedge funds and a total value of hedge fund holdings of $292 million. The company is among the largest marijuana companies in the world, we learned from Insider Monkey. Scott Miracle is also known for its lawn and gardening products. Arena Pharmaceuticals, Inc stands on the third spot with 43 hedge funds and a total value of hedge fund holdings of $989 million. Kurt Von Emster’s VenBio Select Advisor is the top hedge fund holder with having invested $231 million at the end of the third quarter. An insider bought recently 5 shares at around $69 in the end of 2020, since then the stock has seen 15% of growth. Arena Pharmaceuticals is involved in producing novel medicines with pharmacology and pharmacokinetics. If you want to know more about the best hemp stocks to buy now,please click and jump to the entire article.