Marijuana Stocks to Watch Right Now
Have you been following marijuana stocks wondering which ones are the best to invest in? There are many investors that would like to fill their portfolio with less volatile stocks. With this many leading pot stocks present the opportunity to make a profitable investment. Provided that the cannabis industry grows as predicted we could have a $100 billion global industry in the making. In order to find the top pot stocks in the market, you should do some research on the sector.
At the present time, companies like Green Thumb Industries Inc. (GTBIF Stock Report) are building dispensaries across the U.S. to capitalize on the growing cannabis industry. Green Thumb is one of the largest MSO pot stocks with licenses for 96 retail locations across the country. In view of medicinal marijuana being legal in 33 states once again federal legalization possibly on the horizon in 2021. This could be a good time to find the best marijuana stocks to buy.
Cannabis Stock Volatility: Is This Pot Stock A Better Choice?
It’s important to realize the amount of volatility that occurs with marijuana stocks in the market. In many instances, this could deter would-be shareholders who would prefer a more stable investment. But ultimately without risk, there’s no reward. With this in mind, there are options that display less volatility than some of the pure-play marijuana stocks.
For example, take Innovative Industrial Properties, Inc. (IIPR Stock Report) a cannabis industry REIT which leases properties to licensed cannabis companies. IIPR stock has shown growth in 2020 and has not had the turbulence that other pot stocks have faced. In case you wanted to go deeper into some of the other leading pot stocks in the industry below are 2 top-performing cannabis stock companies.
Top Marijuana Stock: Trulieve Cannabis Corp.
Trulieve Cannabis Corp. (TCNNF Stock Report) is a top-performing cannabis company that has chosen Florida as its primary stomping grounds. Currently, Trulieve has 62 dispensary locations in the state and is positioned well to benefit from the medical marijuana industry there. Trulieve is a vertically integrated company that is expanding into other states like California, Massachusetts, and Connecticut. Recently the company launched a new line of high-quality cannabis strains called the Cultivar Collection. The line is curated by Trulieve’s master growers and is set to be released on October 17th at select Trulieve stores.
Presently TCNNF stock is trading at $21.70 with a high year to date of $22.42. Prior to October, the stock was trading lower with a drop in mid-September to $18.01. In the meantime, Trulieve will continue its expansion of U.S. dispensaries in Florida and commence to grow in other states. In light of how quickly they spread through Florida look for Trulieve to be doing the same across the nation. Granted with all this in the pipeline Trulieve looks to be a marijuana stock to watch.
Top Marijuana Stock: Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. (CURLF Stock Report) is a leading vertically integrated cannabis operator in the U.S. Recently the company announced the opening of its 33rd retail dispensary in the state of Florida. The company prides itself on producing premium cannabis for its over 420,000 registered medical patients. In addition, Curaleaf operates 95 dispensaries nationwide and has debuted a diverse amount of cannabis products for its patients.
Several analysts have given CURLF stock a 12-month average price target of $14.50. If this holds true, the stock would possibly see some upside from its current levels. Another reason to take a further look into Curaleaf is its impressive balance sheet. The company reported Q2 revenue of a record $117 million 22% over the previous quarter. Curaleaf has given credit to most of the revenue stemming from its Select brand products. Together with the addition of dispensaries across the country look for Curaleaf to continue impressing investors.
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