Greenlane and High Tide are popular names with a strong future
Investing in the marijuana industry will never stop being a bad idea, especially with the steady growth and the amount of ancillary cannabis in existence that can give you great long-term investments. Ancillary cannabis companies are those companies that support the marijuana industry without necessarily having a direct relationship. Even so, these ancillary companies have started to see quite considerable growth and expansion, indicating that they are developing as the cannabis market continues to advance. With a month about to kick off, it’s not a bad idea to take a look at the best stocks of this type.
Greenlane Holdings is a clear bet for many experts who focus on ancillary stocks. This cannabis accessories company sells its products in more than 11,000 stores worldwide.
It’s no secret to anyone that high-end vaporizers, child-safe packaging, and cannabis accessories are high-consumption products both inside and outside the US, and that’s where the firm has focused. In addition, its merger with KushCo Holdings has given the combined company a large footprint across the country.
On the other side is High Tide, a cannabis dispensary that also produces and markets marijuana-related products. The company, when founded, started with the goal of becoming the largest Internet accessory marketplace on the planet.
Now, its vision has expanded down another path, with its brand available at 127 retailers across Canada. From the previous quarter to the current quarter, revenue increased 12% sequentially and this trend is expected to continue in the coming months.