The cannabis sector includes companies that focus on the cultivation, production, marketing, and distribution of cannabis and related products. This industry has seen a surge in interest from investors as more countries and U.S. states legalize cannabis for medicinal and recreational use. Companies range from growers and retailers to those offering ancillary services like security, logistics, and software. The sector is young, dynamic, and holds potential for significant growth, especially as legalization expands.
Investing in cannabis stocks offers the potential for high returns due to the industry’s rapid expansion and the increasing social acceptance of cannabis. Stocks in this sector can benefit from innovations in products and international market expansions. However, the sector also comes with notable risks. Regulatory uncertainties and legal challenges can pose significant risks, as the legality of cannabis varies widely between jurisdictions. Additionally, many cannabis companies are relatively new and can experience high volatility and competition.
Overall, the cannabis sector is seen as speculative by many investors. While it offers the potential for substantial gains, it requires careful consideration of the legal landscape and market saturation. Investors looking to capitalize on the growth of cannabis should prepare for possible abrupt changes in market dynamics and regulatory environments. Taking this into consideration, here are two U.S. cannabis stocks to watch in the stock market today.
Cannabis Stocks To Buy [Or Avoid] Now
- Green Thumb Industries Inc. (OTCMKTS: GTBIF)
- Curaleaf Holdings Inc. (OTCMKTS: CURLF)
Green Thumb Industries (GTBIF Stock)
Leading off, Green Thumb Industries Inc. (GTBIF) is a cannabis consumer packaged goods company and retailer in the United States. The company manufactures and distributes a portfolio of branded cannabis products including flower, concentrates, edibles, and topicals. The company also owns and operates a growing chain of national retail cannabis stores called Rise™.
Just last month, Green Thumb announced the opening of its newest RISE Dispensary in Wesley Chapel, Florida. This new location marks the company’s 16th dispensary in Florida and its 93rd nationwide. The Wesley Chapel dispensary, strategically located off Interstate 75, aims to provide medical cannabis patients with a variety of products from Green Thumb’s portfolio.
Year-to-date, shares of GTBIF stock have jumped by 22.46% so far. Meanwhile, during Monday morning’s trading session, Green Thumb stock is trading flat on the day thus far, at $13.20 a share.
[Read More] 2 Dividend Stocks To Watch In May 2024
Curaleaf Holdings (CURLF Stock)
Next up, Curaleaf Holdings Inc. (CURLF) is an international provider of consumer products in cannabis. With operations spread across the United States as well as international markets, Curaleaf operates an extensive network of dispensaries, cultivation sites, and processing facilities.
Last month, Curaleaf announced the completion of its acquisition of Northern Green Canada (NGC). Northern Green Canada is a Canadian licensed cannabis producer with a strong focus on international expansion. This acquisition enhances Curaleaf’s position in key European markets like Germany, Poland, and the United Kingdom, and establishes its presence in the emerging markets of Australia and New Zealand.
In 2024 YTD, shares of Curaleaf stock have increased by 39.90%. While, during Monday morning’s trading session, CURLF stock is trading modestly lower by 0.71%, at $5.61 a share.
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