Will 2021 be a decider that should you go invest in marijuana stocks for the long-term? If so, pick these three.
The marijuana industry is a diversified market where companies are engaged in research, distribution, medicine development, and recreational marijuana. Cannabis stocks really got the attention when the potential legalization of marijuana on a broader scale across the United States. The Biden administration is pretty much determined to go with legalizing the use of marijuana and support the industry to grow bigger, globally.
Many marijuana companies have grown much bigger during one year’s time and there are continuously developing and expanding their ecosystem across the planet. So, let’s have a look at the three top marijuana stocks for investment in the long run.
Green Thumb Industries (GTBIF)
Green Thumb Industries (GTBIF) made strong progress during the past year due to growth in its home state of Illinois. The opening of the legal adult-use recreational marijuana market in the state is a great plus for the company in the coming years.
The company has retail stores in 12 states across the country and operates 13 manufacturing facilities. Green Thumb also owns the license for over 96 retail cannabis stores and currently has opened less than half of them. With the growing market trend, we could see GTBIF open more and more retail stores in the future.
In that premise, Green Thumb Industries is set to open its 9th store in Illinois and 55th in the country. While it will be opening its 56th retail store, Rise Meadville in Pennsylvania. The following two new openings are expected to take place on March 31, 2021. So, GTBIF sits on strong growth in the cannabis market for long-term investment.
GW Pharmaceuticals (GWPH)
GW Pharmaceuticals (GWPH) is a British pharmaceutical company famous for its multiple sclerosis treatment product nabiximols, the first natural cannabis plant derivate to gain market approval in the world.
GW is one of the most decorated and well-established companies in the cannabis segment. It has a market cap of over $6.67 billion and is continuing to grow as the market expands. Recently, the company announced that its Type II variation application for EPIDYOLEX® received a positive opinion from the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP). EPIDYOLEX is being prepared to be used for the treatment of seizures associated with Tuberous Sclerosis Complex (TSC). It will be used to treat patients of two years of age and above. This is a big step forward to move towards the end result of the product.
So, GW is changing things in the market, and is the key factor is that it belongs to medicine, which is always a strong point for a company.
Scotts Miracle-Gro (SMG)
Scotts Miracle-Gro (SMG) has driven with the following of the cannabis market trend. Scotts’ Hawthorne Gardening subsidiary is among the leading supplier of hydroponic gardening products to the cannabis industry.
So, Hawthorne plays a vital role in the growth of Scotts Miracle-Gro. However, the company still makes a big chunk of money-half of its total revenue—from the sales of its garden products and consumer lawn. The positive is that Scotts’ main business has also succeeded during the pandemic. So, SMG can be a good bet for the long-term.
