With the cannabis industry expecting to grow exponentially in the next five years alone, it is time for the light bulbs in our brains to flicker on and figure out how to get a piece of the pie. As cannabis lovers it is important for us to put our money towards efforts we believe in, and purchasing marijuana stocks is a major adult move that needs to be made. Here are the top cannabis stocks to invest in and what you should know about investing in stocks in general.
Top Cannabis Stocks To Invest In
Truelieve Cannabis is the leading medical cannabis company in Florida state where half of its total sales derive from. Since 2017 this company has increasingly expanded in sales and makes plans to dominate the cannabis industry in Massachusetts in the future.
GrowGeneration specializes in hydroponics and has become the largest specialty retail chain that undoubtedly made a smart move in focusing on the cannabis market. Although GrowGeneration sells to other gardening experts beyond the cannabis industry, their customer base are predominantly marijuana growers. This company also has seen an uptick in sales due to the organic gardening boom during the pandemic, so it definitely looks like this company’s stock will consistently rise.
Curaleaf Holdings is a top leading cannabis and wellness company in the US, operating in 23 states and it is looking like this company will dominate the New Jersey market which will most likely turn its neighboring legalized states as well. With 195% year-over-year growth, this company is expected to grow from $13 billion in 2019 to $30 billion by 2024. Curaleaf Holdings have also acquired a high-end edible cannabis company in 2020 and show no signs of slowing down in expansion!
Innovative Industrial Properties
Innovative Industrial Properties provides real estate capital for medical-use cannabis owner operators, which is an incredible way to break into this market since it is a known fact that obtaining retail space in the cannabis industry has its own setbacks with financial institutions and often a very difficult road. Innovative Industrial Properties buys property from cannabis operators and leases it back to them, thus becoming the leading landlord if you will have many cannabis companies that need space. This company is known for being the path of least resistance, and should also be recognized for its flexibility during COVID. A few tenants received rent deferrals to help with pandemic setbacks but that hasn’t stopped this company from experiencing fantastic growth. Also, because this is considered a real estate investment trust, it must return at least 90% of taxable income to shareholders, which are delivered in the form of dividends.
GW Pharmaceuticals created Epidiolex, the first pharmaceutical drug made from a cannabis plant and approved by the Food and Drug Administration (FDA). With success in helping to treat rare forms of child epilepsy, only two years after its breakout into the pharmaceutical market, Epidiolex was approved to also treat tuberous sclerosis complex (TSC) that also helps with treating benign tumours. Investing in the pharmaceutical industry is always a great way to diversify your portfolio and start to pay attention to groundbreaking discoveries in the medical field.
Columbia Care prides itself on providing various options for top quality cannabis health and wellness solutions and being a leader in the industry for innovation. With locations in over ten states, Columbia Care provides data and testimonials behind its products to gain trust from cannabis consumers. Based in New York with an annual revenue of $194 Million, Columbia Care will be expanding throughout the nation and will continue to drive growth which will in turn make its stock more valuable!
This list of the top cannabis stocks to invest in are just skimming the surface of the cannabis companies available for you to invest in, so it is advised to do your own research and see what each company is about before buying. Look at 52-week highs and lows, its overall growth in the past three months to a year and beyond, however the cannabis industry is still generally up and coming so look at upcoming trends. Buy a cheap bong online and jump onto the money train while you can, the cannabis industry is here to stay and dominate every market possible!