A few cannabis names are providing strong options for investors
The last full week of June has just begun, representing one of the last opportunities to close the middle of the year with great investments in the portfolio. As is usual in any other industry where investor money is put in, the more you know about a company, the better knowledge you will have to find the best marijuana stocks to buy. Right off the bat, many investors want to confirm that the company is profitable and has a solid future in the marijuana industry. There are three stocks that have these factors very much in their favor today.
The first is Planet 13 Holdings, an integrated cannabis company that has a special focus on the production, cultivation, distribution, and marketing of cannabis and cannabis-infused products for medical and retail cannabis markets in Nevada. Its footprint has also begun to expand in Florida, where it recently announced the opening of a new dispensary.
Then there is Green Thumb Industries, a company that never stops growing. Its business model specializes in the distribution, manufacture and sale of various medical and adult-use cannabis products across the country. According to its first-quarter earnings report this year, the company reported a 25% increase in revenue year over year to $243 million. This is a trend that appears to be stable in the coming quarters.
And finally, there is also a great opportunity to be found through the stocks generated by GrowGeneration Corp. With the help of its subsidiaries, the company owns and operates hydroponic and organic gardening retail stores in the US.
The firm also recently released its first-quarter 2022 earnings report. The company experienced a net sales decline of 9.2% to $81.8 million. While not positive, this was driven by lower industry demand, which always returns to significant spikes as the year progresses.