The company plans to sell 1.7 million shares at $86.83, according to TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio.
On CNBC's "Cramer's Stop Trading" segment, he said that many investors thought the secondary offering would put a halt to the recent rally.
However, this stock is "a winner," he reasoned, saying that most doctors who look to prescribe a cannabinoid treatment "have a hard time trusting any other brand" -- making GW Pharmaceuticals stand out."This will replace Oxycodone, that's my prediction," Cramer said in regards to pain management via cannabis-related treatments. GW Pharmaceuticals is "not a penny stock or a marijuana stock," he concluded, it's "a pain-killing company." -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell Adobe, FedEx Hit All-Time Highs on Strong Earnings Sneakers at Work Are Running Up Sales for Nike, Foot Locker Prestigious Cancer Hospital Rebukes Northwest Bio for 'Inappropriate' Data Disclosures Home Short-Sellers Could Face a Huge Hidden Tax
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts