Cannabis Companies: Top 3 Investment Picks For 2021

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As pressure mounted on the healthcare industry due to the rapid global onset of COVID-19, one industry has acted as a relief valve – cannabis. What was already a fast-growing market has now skyrocketed to unprecedented heights, completely bypassing the expected pandemic-related economic downturn that other industries have experienced.

The cannabis industry has received a helping hand in the shape of legalization. Worldwide, governments are turning over legislation and introducing cannabis-based bills/amendments with the ever-growing backing of the general public.

And naturally, as access to cannabis eases, the industry’s stocks grow. The worldwide legal marijuana market is currently valued at around $340 billion. If current trends continue, this number is expected to double before 2030, with the U.S. market alone expecting to grow over $73.6 billion by 2027.

From looking at the figures and facts, it seems that now is the best time to invest in cannabis companies. But how do we know where to look? It isn’t easy to make any definite commitments in a dynamic market during unprecedented times. Even the savviest investors can’t be sure how top players will fare post-pandemic.

Fortunately, three companies stand out as stable, reliable, and sure to expand in the near future. Let’s take a look:

Curaleaf

 

When investing in cannabis, Curaleaf logistically has a higher portfolio performance compared to other companies. Showing exceptional revenue and consistent profits, you cannot overlook this medical and recreational cannabis manufacturer.

Green Thumb Industries

 

Green Thumb Industries (GTI) operates 13 manufacturing facilities across 12 states. These facilities produce sellable goods for six well-known cannabis brands found in all 46 of their retail stores. Over the last year, most of these stores saw a 50% growth in same-product sales, which is big for the cannabis industry.

GrowGeneration

 

GrowGeneration occupies the position of the “best stock performer” in the first half of 2020. It’s easy to see how GrowGenration achieved this with a quick overview of its second-quarter results showing sales hitting a record of $43.5 million. Better yet, this exceptional figure results from their continual growth, leading sales to grow 123% year-over-year.

 

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