Young investors should consider these cannabis stocks for their long-term potential

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For patient investors who can hold stocks for 10 years or more, these are great options

At the age of 20, you start planning your life and the personal and professional goals you want to achieve. Probably at this stage, you will enjoy greater financial freedom since you do not have major commitments, responsibilities, or expenses to face. Investing correctly since you are young allows you to have a better economic future and achieve your short, medium, and long-term goals. A great opportunity for this can be found through marijuana stocks. Investors who buy and decide to hold these stocks could benefit monetarily over the long term.

Green Thumb Industries is a company that, even having a limited legal market, has been able to quadruple its revenue from $216 million in 2019 to $894 million in 2021. Considering that this is a trend that could continue to be a reality, buying and holding its stock can be a pretty smart strategy. Another noteworthy point is that the company, thanks to its aggressive expansion strategies, has been profitable for seven consecutive quarters in a highly competitive industry.

Planet 13 Holdings’ holdings cannot be overlooked either. This $283 million market cap company’s unique superstore strategy has made it a focus of many pundits. Its vision seems to focus on owning huge cannabis dispensaries in key locations to provide an unparalleled experience. In fact, its popular Las Vegas store is the largest cannabis space in the world and a major contributor to its amazing revenues.

And then there is Jushi Holdings, a multi-state operator whose capitalization is not as large but still does what it takes to have a more noticeable footprint in the country. A clear example of this was the opening of its 33rd retail store in the US this month. Efforts like these are reflected in the first quarter of this year, when the company reported revenues of $62 million, an increase of 48.5% year over year.