Analysts are giving their support for Green Thumb Industries
November has now reached its first half, and many analysts are still placing their bets on the best cannabis stocks to buy at this time. It appears that many agree that Green Thumb Industries is in a prime position to generate above-market returns for long-term investors in 2022 and beyond.
There are many profitable stocks on the market today. Still, there is certainly a better way to earn above-market returns than buying shares of companies that are part of rapidly expanding addressable markets. Cannabis is definitely one such sector, predicted to grow at a phenomenal rate over the next decade.
With different countries in Europe and America looking to legalize marijuana, stocks like Green Thumb should be in pole position for a run of stellar returns as the years go by. Green Thumb currently owns one of the most relevant cannabis stocks globally, with a market capitalization valued at $3.2 billion.
The Illinois-based company distributes and manufactures a broad portfolio of cannabis products. At the same time, it operates national marijuana retail stores called RISE. It currently has a presence in 15 states through 77 retail stores and 17 manufacturing facilities.
With nearly a decade since its founding, the company grew sales from $62.49 million in 2018 to $893.56 million in 2021. This remarkable massive top-line growth has paved the way for the company to report operating income of $214.8 million last year. For this year, experts predict that the firm’s sales will exceed $1 billion, making it a favorite stock for many analysts at this time.