Three cannabis stocks continue to rank highest with analysts

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Anyone with an interest in the stock market in general should have noticed by now that there is a surge of movement in cannabis stocks since the November 3 elections when more states voted to approve marijuana sales at some level. That, added to the positive talk coming out of the incoming administration of now President Joe Biden and his staff, has been enough to spark a small revolution in the cannabis stock markets. There are three solid stocks that analysts are recommending with the possibility of delivering superior returns in the coming year.

Aphria, just since the month of November, has returned over 155.6% and has generally outperformed both analysts’ top-line and bottom-line expectations during the quarter, and Aphria is showing no signs of slowing down. It is a large Canadian company growing for the recreational cannabis market and grabbing a significant market share in Canada by offering “compelling and relevant products.” Their vape and dried flower products are still performing exceptionally well.

Aphria has recently acquired a company called SweetWater, which will allow the company to expand into the CBD/THC infused drink market as well as to expand its US operations. But the big news is that Aphria is merging with another Canadian company called Tilray and together the emerging company will become one of the largest cultivators and distributors on the planet.

Green Thumb Industries is another company that has demonstrated impressive growth numbers, with its stock price trading over 20% higher for this year. The people who run Green Thumb Industries have been planning for the future of cannabis since its inception. For example, the company now operates 51 retail stores in the US, but they also own 97 licenses.

Green Thumb has a strong presence in 12 states with six consumer brand names on the market. Green Thumb also owns and operates 13 cultivation and manufacturing facilities. These folks are not fooling around.

Finally, there is Canopy Growth, another Canada-based company that is already one of the largest cannabis companies by market capitalization. Riding the wave started on November 3, Canopy Growth is up over 67%, but still trades around 38% lower than its all-time high, presenting an excellent buying opportunity. Canopy Growth concentrates on Canada, the US and Germany, which, combined, account for about 90% of global cannabis sales.