The Risk and Reward of Cannabis Growth Stocks
Cannabis stocks are often labelled as high-risk growth stocks. This is primarily because many of these companies are yet to turn a profit. However, a savvy investor knows to look beyond just profits discussed at WealthyVC. A consistent and growing sales revenue over the last three years can be a reliable indicator of a company’s potential, even if they haven’t yet reached profitability.
Two notable exceptions in this realm are Verano Holdings and Curaleaf. Verano Holdings hasn’t provided sales data for an extended period, and Curaleaf has postponed its earnings report for 2022. Despite these anomalies, both companies have shown promise in other areas.
It’s also worth noting that while these companies might seem small in the grand scheme of things, they’ve been filtered to ensure a minimum market cap of $100 million. Additionally, any company with sales under $50 million in the previous year was excluded from consideration. Interestingly, several of these stocks have listings in both Canadian and U.S. markets, showcasing their international appeal.
1. Curaleaf (CURLF): The Billion-Dollar Giant
With a market cap of $2.65 billion, Curaleaf stands tall among its peers. Its expansive reach and consistent growth make it a favorite among investors. However, the recent delay in its 2022 earnings report suggests a need for careful observation and analysis.
2. Tilray (TLRY): A Global Cannabis Leader
Tilray, boasting a market cap of $1.78 billion, has made significant inroads in the international cannabis market. Its strategic mergers and acquisitions position it as a global leader with a diversified portfolio.
3. Green Thumb Industries (GTBIF): Pioneering the Green Revolution
With a market cap of $1.68 billion, Green Thumb Industries is at the forefront of the cannabis industry’s growth. Its commitment to quality and innovation has garnered a loyal customer base and investor interest.
4. Verano Holdings (VRNOF): The Emerging Powerhouse
Though newer to the scene, Verano Holdings, with a market cap of $1.01 billion, shows immense promise. Its rapid growth and strategic market positioning make it a stock to watch.
5. Trulieve Cannabis (TCNNF): Dominating the Floridian Market
With a market cap of $790 million, Trulieve Cannabis has carved a niche in the Florida market. Its customer-centric approach and expansive product range have driven its success.
6. TerrAscend Corp (TSNDF): Scaling New Heights
TerrAscend Corp, with its $399 million market cap, is making waves with its unique product offerings and strategic partnerships. Its commitment to research and development sets it apart.
Select stocks with the cannabis industry pose new opportunities. These six stocks represent a mix of established giants and promising newcomers. As always, don’t forget to conduct thorough research and consult with financial advisors to align investments with your financial goals as this article is not financial advice.
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