3 Marijuana Stocks Picked by Billionaire Investor Leon Cooperman

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Cooperman’s picks include one stock with a smaller market cap but a history of high performance

Billionaire investor Leon Cooperman has an estimated net worth of $3.2 billion. When he buys stock in a company, fellow investors take note. Cooperman recently picked three marijuana stocks to invest in with his own personal money: CannTrust Holdings, Green Thumb Industries, and iAnthus Capital Holdings.

According to Cooperman, his decision to enter the volatile marijuana sector was influenced by Ben Kovler, the founder and CEO of Green Thumb. Kovler comes from a family with a successful history in business – his father built the Jim Beam whiskey empire.

Green Thumb is a U.S.-based marijuana grower and retailer with a preference for limited supply markets. The company is focused on opportunities in states with laws that limit the number of producers and retailers in the market.

Currently operating in eight states, Green Thumb has a presence in Illinois, Maryland, Massachusetts, Nevada, Ohio, Pennsylvania, Florida, and New York. Their goal is to own the entire supply chain wherever they operate, from cultivation all the way to retail sales.

CannTrust is a Canada-based grower is focused on the CBD market. The company currently produces medical cannabis capsules and topicals but has plans to expand into the recreational market. In that direction, CannTrust has already made signed supply agreements for recreational cannabis in nine provinces.

CannTrust’s international arms already reach into Australia, Denmark, Germany, and the Netherlands.

Of Cooperman’s three picks, iAnthus has the lowest market cap but was given the highest ranking. It was the second-best performing stock in its sector through the first half of the year.