Investors considering the cannabis stock market have a lot of potential with these companies
In such a growing and important industry as the one of marijuana today, it is easy to encounter many problems related to hyper valuation. While it is true, it is known that there is a lot of money to be made in the marijuana boom, and to the good fortune of many investors, there are still some very valuable marijuana stocks on the market. Clear examples are brands such as Red White & Bloom Brands Inc, Acreage Holdings, and Charlotte’s Web, all of which have earned between 5% and 95% for investors during 2020.
Red White & Bloom currently has 25 stores in six states under its ownership. The main market this company focuses on is cannabis growing, selling bulk flowers and various cannabidiol (CBD) products, a compound with exponential growth. Among Red White & Bloom’s projections, it says it can grow 12,500 kg of dried cannabis and 500,000 pounds of CBD per year. Even when last year’s sales were not so extravagant, the company believes that this year they can be increased between $300 million and $450 million. While this may sound ambitious, there is no doubt that the company is arguably one of the best-emerging cannabis brands in the country.
Acreage Holdings had some notable accomplishments over the past year, which included expansion into Pennsylvania, the initiation of recreational marijuana sales in Maine, and ultimately the launch of new brands in key states, such as New York, Ohio, and Illinois. The company currently operates a total of 29 dispensaries in 13 different states. To show that it has been growing year over year, its sales have improved from $74 million in 2019 to $114.5 million in 2020.
Charlotte’s Web is considered the undisputed wholesaler of CBD throughout North America. Its product range is found in more than 22,000 retailers across the continent. Even though its revenues were hit last year by COVID-19, its eCommerce came to the rescue, accounting for more than two-thirds of the company’s $95.2 million in sales.