Two cannabis companies are poised to grow as the US industry changes
There are some marijuana stocks that continue to pull down, but that doesn’t mean your company isn’t performing positively. While it can be tricky to pick marijuana stocks right now, it’s also not a new phenomenon and experienced investors know exactly where to look. Recent research reports show global medical and legal recreational marijuana revenues expected to exceed $97 billion by 2026. With this in mind, it stands to reason that investing in stocks with potential is an ideal strategy. Two marijuana stocks have that potential, and many could line their pockets with a little confidence in it.
Verano Holding shares have suffered a considerable drop (65%) during 2022. There are still a lot of unknowns as the company went public last year. Still, it has managed its operations well enough to become one of the largest MSs in the country.
With 135 retail stores operating and more than 130 planned, Verano is in an ideal position to see its performance improve further. Florida is its key market, with 59 dispensaries there, along with 15 in Pennsylvania and ten in Illinois.
Another great option found is Green Thumb Industries. While this company’s stock is down nearly 60% year-to-date, it has had eight consecutive quarters of positive net income. Data like this positions it as one of the few MSOs with profitable consistency for many interested investors.
At last count, just over a month ago, the company had 77 retail locations in 15 states, including four dispensaries in New York. In addition, it is important to note that the company’s revenues increased by 468% over the past three years, and that trend is likely to continue.