These two cannabis stocks are poised for growth as marijuana reform continues

45 0

Investors can enter November contemplating two strong cannabis options

Marijuana reform is in the making and that means different stocks in the industry are in a position to grow. Legislative changes may not come as quickly as some marijuana investors would like; however, all those who have faith may see great benefits in the long run. Be that as it may, many markets are still booming at the state level and that’s why Trulieve and Green Thumb Industries are positioned as two interesting bets for investors before the year comes to a close.

Investors who have put their faith in Trulieve have not had a fruitful 2022, with shares trading down nearly 60% year-to-date. However, the company has continued to make inroads in the industry, especially after the acquisition of Harvest Health.

The company boasts incredible dominance in Florida as the largest medical marijuana market in the country is on track to reach sales in excess of $1.5 billion by 2022 alone. After purchasing Harvest Health, the organization expanded its presence to more than ten states with approximately 170 retail stores.

Green Thumb Industries, meanwhile, has come to realize itself as a solid player in the cannabis market. The company is not only known for having a marijuana stock with an enviable track record of top-line growth, but also a profitable one. Since 2020, the company has grown its annual revenue by 61%, and that undoubtedly pleases any investor’s expectations.

Green Thumb Industries reported revenues of $254 million in the most recent quarter, which is growth of 15% year over year. In addition, it also generated adjusted operating EBITDA of $78.7 million in the three-month period, a 17% increase over the same period last year.