Lesser-known cannabis stocks that might be worth adding to an investment portfolio

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These companies aren’t mentioned often, but have serious growth potential

As the cannabis industry starts a recovery mission after the many factors that made the industry fall deep into the red for more than a year, smaller companies are rising to bring new opportunities for investors. Even if they are not well-known companies, they are working hard to grow, and some are offering great opportunities for making a profit. They may represent a higher risk compared to other large corporations; however, the return on investment can be a lot higher.

Turning Point Brands is not a name that investors hear a lot about. With its market capitalization of more than $570 million, it is not considered a small-cap marijuana stock. However, is being somehow overshadowed because it’s mainly levered to traditional tobacco-based products. Although, that could be a good thing rather than a bad one; during crises, a lot of people turn to vices like alcohol and tobacco to cope with the situation.

Another company worth looking at is 1933 Industries. In the current market, staying ahead of the competition can be really hard and it could get a company in trouble if not approached correctly. To mitigate the risks, 1933 Industries used another approach that includes supporting several brands under an umbrella company, which is great for investors who want to lower the risk.

Planet 13 has been working hard and is surely one of the most compelling companies among the riskiest ones. It holds the title as the world’s largest dispensary with a massive complex located in Las Vegas, but, more than a dispensary, it is a destination spot that, through its 115,000-square-foot facility, provides multiple options like eateries that include cannabis-infused edibles and beverages.