Cannabis stocks to consider ahead of the presidential election

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There are changes coming to the cannabis space following the elections, so getting in now is smart

The presidential elections are just around the corner and this will be another important year for the cannabis industry, including the possible decriminalization of marijuana on the federal level. At the same time, at least four states, such as Arizona, New Jersey, South Dakota and Montana, will allow voters to decide on legalizing adult sales. After November, the US cannabis market could become a hot market for the cannabis industry, with several states opening their markets to experienced operators and local businesses, so these are the cannabis stocks to invest ahead of the elections.

The first company to consider is Scott’s Miracle-Gro, mainly because it doesn’t risk all the money in the cannabis industry. This company is dedicated to selling equipment and products to hydroponics growers and gardening companies, including cannabis cultivators. The advantage of investing here is that the company is not dependent on production, which makes it low risk. Its 3.7% of return so far this year puts the company at the same level as some of the S&P 500.

Another company worth investing in is Curaleaf, as it already is present in 23 US states through its recent acquisition of Grassroots, completed back in July. Just this month, Curaleaf has been working on taking its Select brand to more states. The company has been growing quickly and its second-year reports exceeded all expectations and broke a record. From June 30 to August 17, the company reported $117,5 million in sales, which represents a 142% increase if compared to the previous year.

Lastly, Trulieve represents a solid investment thanks to its focus on only one market, Florida’s medical marijuana market. It currently operates 61 dispensaries, with small operations in both Connecticut and California. Trulieve added that the company is preparing to expand operations and enter Massachusetts in 2021.