The marijuana industry has shown tremendous growth during the past couple of years and will continue to do so in 2020. As legalization becomes more widely accepted across the country, the cannabis industry sees this year as another critical year for trade growth. With US sales expected to grow from the $12.5 million mark set in 2019, there is no better time to start investing in marijuana stocks than right now.
That being said, investing in stocks can be a complicated and confusing process for many people. This is why we decided to put together a list of the best-performing companies in the marijuana stocks industry. Whether you’re a first-time investor or someone with experience, these are the companies you should consider investing with moving forward.
One of the more established names in the cannabis industry, Acreage Holdings also continues to be one of the biggest firms in the U.S. After raising more than $180 million, Acreage Holdings also reported revenue of $21 million in 2019 and announced plans to open 10-15 retail dispensaries in 2020. If you’re looking for a name you can trust in the cannabis industry, Acreage Holdings is as reliable as it gets.
Focused on the development of cannabis-based medicines, drugs, drops, and oil products, Tilray is another great marijuana stock worth investing in. After reaching nearly $300 on an intra-day basis following its IPO, Tilray continues to be an impressive investment. Headquartered in Canada, Tilray services clients worldwide, providing investors with plenty of opportunities to see their investment pay off.
Another Canada-based company, Aurora Cannabis centers its focus around the production, distribution, and sale of cannabis-based products. After several acquisitions, Aurora Cannabis has also gained nearly $3.17 billion Canadian in goodwill and looks to continue its hot streak this year.
Green Thumb Industries
Operating as a pharmaceutical company as a manufacturer and distributor of medical marijuana and cannabis products, Green Thumb Industries has the potential to be one of the fastest-growing companies in the marijuana-based market. With operations in 12 states, including 96 total retail licenses, Green Thumb Industries also boasts a market of almost 151 million people, more than enough to make them stand out to any investor.
With 131 retail licenses in 19 states across the U.S., Curaleaf Holdings is one of the country’s cannabis producers with exposure to the medical and recreational marijuana markets. Leveraging their cultivation, processing, and dispensary operations, Curaleaf Holdings might even have a chance at $1 billion in annual sales, making them well worthy of an investment.
Flower One, a Toronto-based cannabis cultivator and processor, launched in 2019 and reported a working capital of $38 million (US) and cash revenue of $5.6 million (US) shortly after. As the company continues to work with several California-based brands, Flower One is in a unique position to see even more growth over the coming years.
With marijuana stocks, it’s essential to find companies that offer a variety of products for their customer base. One of the most attractive things about cbdMD is the diversity of its portfolio. From products such as oils and edibles, cbdMD continues to prove they are a forward-thinker in the cannabis industry and will continue to use that to their advantage moving forward.
Is there a marijuana stock company you think should be on this list? Sound off in the comments section below.