Stock market investors can take advantage of low cannabis prices to expand their portfolios
Green Thumb Industries is one of the most exciting stocks in 2020. With 49 dispensaries at present, and licenses to open 96 more, it is booming. Nearly two-thirds of its revenue comes from valuable derivatives such as edibles, vapes and infused beverages, and these offer Green Thumb the chance to grow throughout 2021. Green Thumb is only the second cannabis stock in North America to reach $1 billion in annual recurring sales.
Planet 13 Holdings superstore in Las Vegas Strip in Nevada, covers 112,000 square feet, and has a restaurant, events center, a consumer processing center, and counters filled with dried flower, derivatives, and paraphernalia. Planet 13 is currently building a 40,000 square foot store in Santa Ana, Calif., modeled off its Las Vegas superstore. Planet 13 is a stock set to move up quickly.
Cresco Labs is the third stock to watch right now, with 29 total dispensaries with 19 of those dispensaries located in Illinois. Since Illinois is a limited-license state, Cresco should be able to profit from Illinois’ projected annual cannabis sales of up to $1 billion. Cresco also recently acquired Origin House owner of one of the few cannabis distribution licenses in California, which is the largest marijuana market in the world. Cresco now has access to more than 575 California dispensaries.
GrowGeneration has 28 dispensaries in 10 U.S. states, but plans to have 50 by the end of 2021. The company has expanded exponentially since starting in 2014. Marijuana Business Daily’s latest “Marijuana Business Factbook” calls for up to $37 billion in legal sales by 2024, and GrowGen is set to benefit as it provide tools for cultivators to be more profitable.