2020 was a challenging year for most industries, but for the cannabis business, the year turned out to be arguably its best to date. Sales of medical and recreational marijuana products rose impressively in mature and emerging markets across the North American region. Additionally, many consider 2020 to be a turning point for the industry, as several states in the US legalized cannabis in some form. Therefore, marijuana stocks could be this decade’s most compelling growth story.
Overall, 2021 is likely the year where we see major reform in the cannabis industry. In fact, Senate Majority Leader Charles Schumer and Senator Cory Booker have stated that cannabis reform will be a priority this year.
Moreover, five states voted to legalize marijuana on election day, and the House has recently passed the MORE and Medical Marijuana Research Act. This is likely to lead to a domino effect, which will further normalize the industry. A recent New Frontier Data report highlighted that legal cannabis sales in the US alone could jump to $41.5 billion by 2025.
Having said that, let’s look at some of the best marijuana stocks in the market at this time.
Aphria (NASDAQ:APHA) Cresco Labs (OTCMKTS:CRLBF) Cronos Group (NASDAQ:CRON) Curaleaf Holdings (OTCMKTS:CURLF) Green Thumb Industries (OTCMKTS:GTBIF) Planet 13 Holdings (OTCMKTS:PLNHF) Trulieve Cannabis (OTCMKTS:TCNNF)
Now, let’s dive in and take a closer look at each one.
Hot Marijuana Stocks: Aphria (APHA)
Canadian cannabis giant Aphria has been the pick of the licensed marijuana producers in Canada, growing by 32% in 2020. It boasts one of the most robust balance sheets in the sector and the industry’s largest cultivation capacity. Moreover, it plans to expand its total addressable market with its planned merger with another Canadian marijuana producer Tilray (NASDAQ:TLRY). Thus, APHA stock is among the best investments in the sector today.