1 Pot Stock That's Become a Much Better Buy During the Coronavirus Pandemic
If you're a cannabis investor, you know that the industry is full of risk. Year to date, the Horizons Marijuana Life Sciences ETF (OTC: HMLSF) is down 25% as concerns surrounding future growth and the financial health of cannabis companies are weighing down many stocks. One way investors can protect themselves is by investing in companies that operate beyond just the cannabis industry and thus benefit from greater diversification.
One stock that falls into that category is Neptune Wellness Solutions (NASDAQ: NEPT). The health and wellness company sells supplements, and its nutraceutical segment makes up a majority of its sales. The company's also made a recent move that could make it an even better and more diverse stock to buy.
On June 15, Neptune announced that it would be launching a new product, Neptune Halo. It's an electronic pulse oximeter that tracks an individual's oxygen levels and can alert someone when those levels get too low. One of the challenges with COVID-19 is that many people with the disease may not experience symptoms early on. By the time they do see symptoms, COVID-19 may already be in advanced stages. Alerting someone that their oxygen levels are low can help them get treatment earlier and potentially reduce the risk of a fatality.
Source Fool.com
