Investors looking for new targets could see significant returns with these options
The last week of October is about to begin, and it wouldn’t be a bad idea to close this month on a high note, looking for the best cannabis stocks to invest in. Nowadays, there are quite hot markets in the US, not only because of its climate but also because of the growth they are having after the legalization of marijuana in its jurisprudence, as in the case of Florida.
Trulieve Cannabis is anticipating that the Sunshine State’s Trulieve Cannabis dispensaries are on track to make $1.2 billion in sales this year, and up to $6 billion by 2030 and that’s why the company is doing everything it can to become a key player in its medical market. Nearly 50% of the aforementioned figure this year will have been spent in the company’s 91 retail stores there. In addition, its focus also goes beyond Florida’s borders, as its $2.1 billion acquisition of Harvest Health and Recreation and operations in ten other states are a major key piece in making it a top-tier multi-state operator (MSO) to own at this point.
Continuing down the Florida path, Ayr Wellness managed to break through late last year after acquiring Liberty Health Sciences. It became the company with the second-largest number of dispensaries in the state after Trulieve, with 42 locations currently open. Last month, it also struck a deal to acquire Garden State Dispensary in New Jersey, including its three dispensaries and one of 12 vertically integrated licenses in the state.
And finally, there is Planet 13 Holdings, best known for its completely unique cannabis SuperStore in Las Vegas. In September, Planet Holdings announced its entry into Florida by acquiring one of 22 vertically integrated licenses in the state. While many believed the company would open a SuperStore in the Sunshine State, it actually has plans to develop its cultivation operations and brand presence in the medical market, with small locations throughout Florida.