As the end of January, approaches we are seeing that marijuana stocks are showing a bit more promise. With the new year underway, it seems as though there is a lot to look forward to. With 2019 ending on a slightly higher note than the rest of the year, many are waiting for pot stocks to begin a climb toward the future. 2019 was quite a tough year for marijuana stocks with many companies in the cannabis industry shooting down by substantial amounts in terms of value and market cap.
However, the new year has brought with it a fresh start. This clean slate has helped to shift the view of pot stocks in a new light. Investors from around the industry are slowly looking for marijuana stocks to buy based on their value rather than on speculation. With this, we are seeing some sizable gains entering into the industry. These gains are allowing us to witness the rebirth of pot stocks. Moving into the rest of 2020, staying focused on the continued growth and keeping an eye out for marijuana stocks to watch is crucial to capitalizing on any potential momentum.
Marijuana Stock To Watch: A Company With A Focus On Recreational Cannabis
Green Thumb Industries (GTBIF Stock Report) (GTII ) is one of the leading retailers of cannabis working out of the U.S. The company has produced as much as $68 million in revenue during its most recent quarter which is quite astounding considering the area of the cannabis industry that it is in. The company has continued to state that its short term goal is focused on the expansion of retail locations that hold its branded products. With this plan, the company is acting as a vertically integrated marijuana stock.
The company has also been working within several relatively new cannabis markets which includes Illinois among others. The company also states that it is vehemently working on upping its production for the new year. With this, it should be able to further delve into different markets around the U.S. including the East Coast and other areas that could soon legalize cannabis. With this, the company looks to be a pot stock to watch heading into next month.
Marijuana Stock To Watch #2: Another Promising Multi-State Operator
Trulieve Cannabis (TCNNF Stock Report) (TRUL ) is another one of the leading MSO pot stocks in the industry. The company has seen better days as recently it suffered from quite a big stock price decline alongside many other popular pot stocks. This is no worry for the company as it states that it is only focused on moving forward in its key markets such as the state of Florida.
The company states that it finished its third quarter with around $70 million in revenue which is quite a solid amount. This number also represents a gain of around 150% for its year over year numbers. With this in mind, Trulieve Cannabis remains a key pot stock to watch for its alternative standing in the industry and future prospects.