Just How High Can These Marijuana Stocks Climb?
The Covid pandemic has made investing in marijuana stocks more lucrative than ever. Although we all know how the big pot stocks like Canopy Growth Corp. (NYSE:CGC) and others have climbed, the growth has been spread around the cannabis industry. This includes smaller marijuana stocks like KushCo Holdings Inc. (OTC:KSHB) and ancillary marijuana stocks such as Scotts Miracle-Gro Inc. (NYSE:SMG). And although we can’t count on major growth to continue at the rate it has, we do know that there is plenty of growth left to occur in the cannabis industry.
At the top of the market, we have the pure play pot stocks. These are the companies that operate by producing large quantities of cannabis. But, the rest of the cannabis industry is filled with alternative investments such as product producing pot stocks and more. Because of this, the options for investing in marijuana stocks seem to be quite limitless. What it really comes down to is having the right information to back a company’s potential future growth. With that information, we can then begin to make an educated decision about whether or not a marijuana stock is a marijuana stock to buy.
A Leading MSO Pot Stock to Watch
Green Thumb Industries Inc. (OTC:GTBIF) is one of the most popular MSO pot stocks to watch. The company has managed to maintain an incredibly strong position in the U.S. cannabis industry. In its most recent second quarter, GTBIF stock reported that revenue grew by as much as 170% year over year. Its revenue thus far in 2020 has reached as high as $220 million making it an incredibly profitable marijuana stock to watch. While most other marijuana stocks struggle for profitability, GTBIF stock has been in its own league of success.
In August, the company reported operating as many as 48 stores around the continental U.S. This includes some major cannabis industries such as California and Florida. In its most recent quarter, the company also reported opening as many as six locations. As we can see, the growth of GTBIF stock is quite unparalleled in the rest of the cannabis industry. But, because of its size, GTBIF stock does remain quite a volatile marijuana stock to watch. With that in mind, the company continues to show its potential to all prospective pot stock investors.
A Niche Marijuana Grower Pot Stock
Village Farms International Inc. (NASDAQ:VFF) is one of the most popular niche growers of cannabis in the industry. VFF stock has also shown itself to be quite profitable while most other marijuana growers are the opposite. Although VFF stock is a marijuana stock, the company itself works in large scale production of vegetables and fruits for sale in the open market. This diversity means that the company can maintain profits even if cannabis sales take a dip. But, quite the contrary has occurred.
As Covid has progressed, we have continued to see a large uptick in the demand for marijuana flower. This means that VFF stock has also seen a large amount of growth in its sales. In Ontario, CA, Village Farms subsidiary, Pure Sunfarms, is regarded as being the largest provider of cannabis. And, VFF stock could also benefit greatly from the recent legalization of marijuana derivative products in Canada. With this considered, VFF stock remains a very solid pot stock to watch moving forward.
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