These cannabis stocks could see investors double their money

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Several cannabis companies are poised to rise as US cannabis reform arrives

It’s no secret that when extra money comes in, you haven’t received it yet and you’re already thinking about what to spend it on. Now imagine a scenario in which you stop for a few minutes to analyze the situation and instead of squandering this money on material things, you decide to save some of your cash in order to double it, and use it to improve your future. The key to doubling your money is an investment and different cannabis stocks can help you achieve that goal without so much sweat.

Investments that require little capital and are meant to generate returns at a slow pace are your best option to start doubling your money without taking too much risk. A simple answer for all cannabis investors is Innovative Industrial Properties (IIP). The risk is not extreme as it is one of the few cannabis stocks that is not related to the business of selling or growing the final product.

This real estate investment trust (REIT) bases its business on long-term triple net leases of high-end industrial and cultivation facilities that it enters into with medical marijuana companies. Its revenues are steady and profit quite substantial. This is easy to understand when you see that it has a portfolio of reputable clients such as Curaleaf, Green Thumb Industries, and Trulieve.

Another company to consider for those with a more solid risk appetite is Cresco Labs. This firm presents an eye-catching buying opportunity within the marijuana sector in general. In addition to owning cannabis brands that sell products for both medical and recreational use, Cresco has several retail stores across the country.

With a presence in seven states, the company currently owns 54 licenses and branded products that leave nothing out, including pre-rolls, vape cartridges and concentrates. Last year’s records indicate that the company generated revenues of $822 million, up 73% from 2020. It is important to note that this has remained stable. In fact, over the past two months, Cresco has increased its revenue and cash from operations by 81% and 22%, respectively.

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