Investing in these options now could lead to greater payoffs if federal legalization arrives
There are different cannabis companies that, over time, have been expanding their footprint in the US. While part of this movement is due to the different legalizations at the state level, many also hope to remain in a privileged position once the reform at the federal level becomes a reality. That’s why industry experts have highlighted three cannabis stocks to buy for multibagger returns with federal-level legalization on the cards.
Tilray Brands remains one of the highest bets in the face of this scenario. Its actions are undoubtedly among the wisest decisions as Congress continues to evaluate various federal reforms. The company’s business development appears to remain fairly solid, which puts Tilray in a stable position to benefit from legalization. The company has made significant acquisitions in the US, which makes its footprint that much more significant.
Another smart bet is the shares of Curaleaf Holdings. The price of this stock has been positive over the past six months, and it is another marijuana company with solid fundamentals that could provide long-term benefits.
The company already has a presence in 20 states, making it a big draw for investors. In addition, it is worth noting that the company has maintained a competitive edge with investments in research and development.
And then there is the opportunity that many see in Cronos Group. While the market has been volatile, the company’s shares have held steady in recent months. Cronos already has hemp-derived consumer products and cosmetics under two brands in the US. In addition, in the middle of last year, the company acquired a 10.5% stake in PharmaCann, which has a presence in eight states.