Investors should take a look at these options to see if it makes sense to add them to portfolios
As of last year, the global marijuana sector was reported to have reached a valuation of $13.2 billion. That market is expected to reach a valuation of more than $102 billion by 2030. While the industry as a whole has faced significant challenges in recent years, its growth continues to be steady. The gradual but significant efforts to make changes to state legislation, the reach of the marijuana industry and the possibility that even federal-level changes could be on the table in the future are all the green flags an investor needs to give a major cannabis stock a shot.
GrowGeneration remains an interesting bet for investors looking for ancillary stocks. This is the brand that every grower in the country puts their trust in. The company is considered the largest supplier of hydroponics in the US.
Its operations have expanded to dozens of stores and garden centers in key states such as Florida, Michigan, Oregon, Massachusetts and Washington. Through this brand, marijuana growers can find everything from grow lights to harvesting supplies.
On the other side is Green Thumb Industries, one of the companies that definitely ticks all the boxes for investors. In addition to being seen as a highly profitable company, Green Thumb has recorded astonishing revenue growth.
The company, as time goes on, continues to expand its presence in the retail and branded market. The company currently has 77 stores nationwide. In addition, it manages and owns a wide variety of premium brands.