The new year has already brought with it some exciting news for marijuana stocks. With the public perception of cannabis showing more positivity than ever before. It seems as though this new year could be a real game-changer for the cannabis industry. This, however, is dependent on some factors that could occur in the near future.
One of the more important factors to growth amongst pot stocks is proper legislation being put into place. In the U.S., the idea is to achieve national legalization for cannabis. If this were to be a reality, it would help to allow individual state markets to flourish and connect with one another. Additionally, this would open up the market for a massive influx of capital as the amount of competition would quickly shoot up even further than it is currently.
There are some other challenges that we are currently facing in the cannabis industry. One of the more prominent issues in the U.S. is the effect of the black market in combination with high taxes on legal cannabis. Both of these issues have been well documented and remain some of the largest problems we face amongst U.S. pot stocks.
But, these two companies look like they are working tirelessly to reshape the industry for the future. Whether it be an alternative pot stock or one of the major industry leaders, learning as much as one can about a given company is the best way to begin investing.
An Alternative Marijuana Stock to Watch
Scotts Miracle-Gro (SMG Stock Report) is one of the most interesting ancillary pot stocks to watch. The company itself has been around for quite a long time as a purveyor of gardening solutions. In the past few years, the company has begun to delve into the world of marijuana-related grow solutions. With its subsidiary Hawthorne Gardening, the company appeals to a large range of amateurs and large companies who wish to grow cannabis.
With a long track record of success, Scotts Miracle-Gro has remained an important part of the ancillary side of marijuana stocks. The company has continued to report high rates of growth which we are waiting to see as the year has just begun. But looking at the past, the company continues to look like a promising alternative marijuana stock to watch.
This Marijuana Stock Makes A Play for the Midwestern Cannabis Industry
Cresco Labs (CRLBF Stock Report) (CL) is a leading marijuana stock that has worked to move deeply into the Midwest market specifically in Illinois. The company stated that sales were driven by as many as 3,500 customers on the first day of operations. With massive support like this from the public, it seems as though this small area of cannabis, could just be a great place to get started.
The company also stated that it is working to close on the acquisition of Origin House. If this deal does close, it would give Cresco Labs an unprecedented amount of access to various retail locations around the U.S. With so many future prospects, the company remains a marijuana stock to watch as we delve further into the new year.