Despite a global pandemic, many marijuana stocks saw a strong rally in 2020 with demand for cannabis on the rise.
Some dispensaries were even deemed an essential business during the widespread lockdowns. As the strong momentum of the cannabis sector carries into the new year, investors are hoping for some big gains.
The growth of the marijuana industry will also be bolstered by mass legalization of marijuana across the country. Nearly 15 states have sanctioned the use of recreational marijuana and more are expected to join soon. The incoming Biden administration and “Blue Wave” Democrats are seen as pot friendly.
With greater expansion on the horizon for the cannabis sector, this is the perfect time to place your bets on the top stocks. Here are seven names that show a lot of potential for the future:
Curaleaf Holdings (OTCMKTS:CURLF) Cresco Labs (OTCMKTS:CRLBF) Aphria (NASDAQ:APHA) Trulieve Cannabis (OTCMKTS:TCNNF) Planet 13 Holdings (OTCMKTS:PLNHF) Innovative Industrial Properties (NYSE:IIPR) Green Thumb Industries (OTCMKTS:GTBIF) Marijuana Stocks: Curaleaf Holdings (CURLF) Source: Shutterstock
Investors looking for a cannabis pure-play should consider investing in Curaleaf. The company focuses on medicinal marijuana and even developed one of the first vaporizers for a medical dose. Today, the company has 93 retail locations across 23 states. The potential for growth remains vast with the widespread acceptance and legalization of medical cannabis.
In addition to its medical marijuana products, Curaleaf is also marking its territory in the recreational pot sector. In an effort to develop its retail brand, the company has made a number of acquisitions since going public in 2018.
A vertically integrated business model and the potential for future growth makes CURLF stock one of the top marijuana names to have on your radar this year.
Cresco Labs (CRLBF) Source: Shutterstock
One medical marijuana stock that’s at