Top ten cannabis stock to invest in
Cannabis has become an extremely active industry in the last few years since its legal acceptance. The trend is so aggressive that we expect it to double by the end of 2025. Both private investors and large corporations are making money from this growing industry. Therefore, new investors are interested in finding the top ten cannabis stocks to invest in.
Now the situation is outperforming the cannabis industry that has emerged as the growing point for entrepreneurs and other companies. Investing blindly may become risky even though the cannabis industry is booming. That’s why we have researched intensively to come up with the top ten cannabis stocks to invest in. Before recommending these investing points, we ensure them with a deep look over the stock and funds. Anyone from expert investors to newbies all can get supportive guidelines with this article.
Let us find out the best marijuana stock you should consider investing in 2021.
Top ten cannabis stock to invest in
1- High-Tide Inc.
Founded in 2009, High-Tide Inc. is based in Canada. It deals with marijuana accessories and stands on the manufacture and retail of it. Alternatively, you can say this company deals with the retail chain of Marijuana, in addition to distribution and manufacturing.
NewLeaf, Meta Cannabis, Smoke Cartel, Daily High Club, Canna Cabana, DankStop, Valiant Distribution, FAB CBA, Grass city, and CBD city are famous brands that come under this wide name. Furthermore, in 2020, it had total traffic of up to 100 million.
Not only this, High-Tide Inc. stock trades in the United States under ticker HITI. Before the end of August, this company announced the acquisition of DankStop.com, an online retailer. On 20 July 2021, the company announced the agreement of DankStop that was worth $3.85 million.
2- Green Thumb industries
Founded in 2014, this industry is concerned with the growth and retail of Marijuana in 12 different states of the USA. With a license of 96 retail marijuana points, it heads 13 production facilities. Its current subsidiaries include; Dharma Pharmaceuticals LLC, Liberty Compassion, Inc., GTI Maryland, LLC, GTI Florida, LLC, and many others.
In 2020, when the recreational cannabis market was legalized in Illinois, Green Thumb industries benefited from it with heavy growth. Using this opportunity, the company took steps to expand in other states, including New Jersey and New York. Now, every year, it treats thousands of patients.
3- Trulieve Cannabis
Founded in 1940, Trulieve is concerned with the growth, production, distribution, and sales of medical cannabis in a safe environment. Mainly, this company is dominant in Canada and the United States. Almost more than half of its sales have been seen in the Sunshine State in 2017. And since that time, the sale has been continuously blooming in this area.
With recreational cannabis, this company is expected to be spread in other states too. It may be the most profitable cannabis industry in the near future.
The most famous brands working under the name of Trulieve are Muse, a concentrate and accessories; Blue River, an oral concentrate; Sweet Talk, an edible; Trulieve core, flower; momenta, an oral oils; and Cultivar collection, flower concentrates.
4- HEXO Corporation
Founded in 2013, it is located in Ottawa, Canada. HEXO is serving the cannabis market worldwide. It provides consumer-packaged quality products for medical and recreational use. The recreational brands that come under this company include Original Stash, Up, Bake Sale, HEXO, and HEXO Plus. In addition, where medical cannabis is concerned, it is working under HEXO medical brand.
Redecan is a producer of Marijuana that was purchased by HEXO at the end of August. This company owned Redecan for 925 million Canadian dollars. And by the end of May, HEXO announced its ownership.
Founded in 2008, GrowGeneration works as an ancillary provider specifically concerned with the focus on the retail cannabis market. It is the largest network of hydroponic and organic stores for gardeners. As the largest supplier, it owns 60 distribution and retail points throughout the USA.
GrowGeneration supports both commercial and home gardeners by providing soil, organic nutrients, hydroponic tools, and advanced lighting for strong growth.
The pandemic situation has boosted the growth of GrowGeneration as customers intended to have gardening at home. In short, this industry may be a good option for growth-oriented investors as the P/E ratio is more than 104.
6- Cresco Labs Inc.
Founded in 2013, it is concerned with the manufacturing and growing of medical Marijuana. In addition, Cresco Labs Inc. is involved in its packaging and distribution too. This company is functional in ten different states where medical cannabis is legal. The brands that come under Cresco Labs Inc. are; Cresco, High Supply, Wonder Wellness Co., Remedi, Reserve, Sunnyside, Good News, FloraCal Farms, and Mindy’s.
The stock of this company trades under the ticker CRLBF. Cresco Labs Inc. declared its ownership of BL Real Estate LLC and Cultivated Licensing LLC in September.
7- Village Farms International Inc.
Founded in 1989, Village Farms International Inc. works as a greenhouse product organization. It is based in Canada and is concerned with the production of Marijuana. In addition, it serves grocers as a grower, producers, and distributors in North America.
It also heads multiple brands that include; Village Farms, Pure Sunfarms, Balanced Health Botanicals, VF Clean Energy, and Village Fields Hemp. All these names have different roles that serve as greenhouse power, marijuana producer, CBD platform, landfill gas converter, and hemp grower, respectively.
Its stock works under the ticker VFF. Moreover, the company purchased Balanced Health Botanicals for 75 million dollars, which is famous for heading the CBD market in the USA.
8- Hydrofarm Holdings Group Inc.
Serving in Canada and the USA, this holding organization produces and distributes hydroponic items to the buyer. Currently, it is supplying multiple brands. With eight distribution points, it supplies more than 5,000 products.
It purchased Greenstar Plant Products Inc. at the start of August. Greenstar is a nutrients company that has roots in Canada and is worth $83 million. The company purchased Aurora in July that is the common name for Aurora International Inc., Aurora Innovations Inc., and Gotham Properties LLC.
9- Cronos Group
Founded in 2012, Cronos Group offers cannabis for adult use and CBD products. As a cannabinoid company, it is concerned with the research, technology, and development of cannabis.
Spinach™ and COVE™ are two of its adult-use brands. Other brands include Happy Dance™, PEACE+™, CBD brands, and Lord Jones™ that are hemp-derived. We have seen higher sales in successive years with 58%. With excellent quality cannabinoids, Cronos Group is introducing controlled growth.
But the investors should focus on the risk of price fluctuations that persisted in the 52 weeks as it lay between $4.92 to $15.83 from a single share.
10- Curaleaf Holdings Inc.
Founded in 2010, Curaleaf Holdings is an American company that is listed on the Canadian stock exchange. Throughout North America, it is concerned with the growth and distribution of cannabis items. With a 10.3 billion Canadian dollars market cap, Curaleaf is the leading cannabis industry in North America. You can say Curaleaf Holdings held the top position of cannabis companies based on revenue. With headquarters in Massachusetts, this organization has active dispensaries in 23 states of North America.
The shares in February 2021 are at the highest peak of 23 Canadian dollars. So, the investors should note that its shares are increasing continuously in successive years with 165% or more.
COVID-19 impact on cannabis stock
The COVID-19 law has impacted almost all businesses worldwide, in addition to the marijuana industry. The main reason medical marijuana dispensaries are thriving in the United States is their medicinal properties. Therefore, the start of COVID-19 came with the active cannabis industry.
Growers and retailers flooded the market with gardening supplies due to the “stay at home” trend. Alternatively, the recreational cannabis industry faced a downfall at the start of the pandemic. In addition, Biotech companies met a hard time for progress and research. Furthermore, the Patient’s visit to the doctor also declined.
In short, we have seen an uneven trend in the cannabis industry at the start of the pandemic.
As a result of reviewing the top ten cannabis stocks to invest in, we’ve made some lines of conclusion. No doubt, the market has a large number of emerging names where the investor can invest. But the final decision is based on your preference and market need.
At the same time, the investors should consider the risks and market shares. There may arise a wider fluctuation. Therefore, a diversification strategy should be regarded to nullify the risk.
“This is not financial advice, nor I’m a financial advisor all information is from research, personal experience and opinion. All money gained from your investments are yours just like all money lost will be yours, so do your diligence research before investing.”