Expected federal changes regarding cannabis make this the best time to invest in cannabis
2020 may have just been a prelude to bigger things to come for the cannabis industry. The overall cannabis stock market saw significant gains last year, but the fact that there is the possibility of federal changes this year could mean even more substantial growth. As a result, investors looking to add cannabis stocks to their portfolios should begin exploring their options now, and several companies are positioned to offer greater returns.
Curaleaf Holdings is a name that routinely comes up as a target for investors. It concentrates on the medical marijuana side of the industry and has 93 retail locations across the US. It has excellent growth potential and is poised for an explosion.
Cresco Labs is another medical marijuana company worth considering. It has a massive nationwide footprint and 326% year-over-year growth, and its retail operations this year are going to be off the charts.
Aphria and Tilray are close to finishing their $4-billion merger, which is why buying Aphria stock now makes sense. The company’s revenue continues to climb and, once the merger is complete, Aphria’s existing shareholders will enjoy massive gains. The new company will have combined annual sales of around $874 million, making it bigger than Canopy Growth.
Trulieve Cannabis receives most of its revenue from its dispensary operations, which can be found in five states in the US. One of those states is Massachusetts, which is expected to see sales of $1.35 billion within three years. It has already enjoyed revenue increases of around 92% and, with 2021 starting to unfold, the company is ready to capitalize on expansion possibilities.