On last night’s episode of Jim Cramer’s Mad Money, marijuana stocks got a lot of coverage. In the lightening round segment of the show, Cramer gave his opinions on three widely known pot stocks. With thousands of viewers tuning in to watch, we believe Cramer’s opinions to be market-moving (even if they’re wrong).
Initially, Cramer was giving his thoughts on Scotts Miracle-Gro Company (NYSE:SMG), but ended up giving his opinion on two other names.
When asked about Scotts Miracle-Gro, Cramer responded:
“They keep screwing it up. And therefore, I think that it’s absolutely right that it’s lower. And you know what? I know people were playing it as a pot play. We’ve got real pot plays now, and the one that I still like is GW Pharma, but I also think Canopy Growth is good and, you know, I’m keeping track of the whole group.”
Essentially, Cramer thinks that Scotts is no longer the “pot play” of choice, and that investors should move their attention to “real pot plays now.”
Jim Cramer’s Cannabis Recommendations:
Canopy Growth Corp. (NYSE:CGC) (TSX:WEED) – WATCH
GW Pharmaceuticals Plc. (NASDAQ:GWPH) – BULLISH
Scotts Miracle-Gro Company (NYSE:SMG) – BEARISH
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