Jim Cramer's Top Stock Pick for Democratic Sweep
If the Democrats sweep the 2020 election in November, Jim Cramer said he has the single-best stock to add to your portfolio.
While cannabis stocks have faced more burnouts than highs in recent months, Cramer said it's time to give GrowGeneration a look.
Essentially, GrowGeneration provides everything you need to grow cannabis. It is the largest hydroponic equipment supplier in the country, with 28 organic garden centers, across 10 U.S. states, supplying organic nutrients, soils, advanced lighting technology, and hydroponic equipment to growers.
So what stands out to Cramer, other than GrowGeneration's soaring stock price, which is up over 10% Tuesday to $18.18 after doubling in the past week?
"What matters is it is a specialized store chain catering to the growth of cannabis at a time when cannabis is being legalized and, more important, millennials want to garden. Why is this chain so special? Because of the runway," Cramer wrote in a recent column on Real Money.
Cramer added that the stock has three major potential tailwinds, including lack of interest in other cannabis stocks, the company is based in the U.S. instead of Canada and legalization is on more ballots in the coming election.
The first debate between President Donald Trump and Democratic nominee former Vice President Joe Biden will take place on Tuesday, Sept. 29.
Watch the video above to see what Cramer has to say about the upcoming election.