The best cannabis stocks to invest in as legalization continues to grow
Have you ever gotten your hopes up over a new job, excited to make the needed money, all to find out you didn’t get it after all, and it wasn’t because you weren’t qualified? You didn’t get the job simply because you had some cannabis in your system! Maybe the company decided to test your hair for the drug test and that’s how they found the cannabis you smoked or ate weeks ago.
To think that if the cannabis you had weeks ago was alcohol (a substance that really is harmful to your body), you would have gotten the job! Thankfully, many people no longer have to worry about that but at the same time, many still do. There are even people still sitting in jail for cannabis-related incidences but times are starting to change. Dispensaries are filled up like ice cream parlors.
Benefits of cannabis
Cannabis has been shown to improve lung capacity, relieve chronic pain, fight cancer, regulate & prevent diabetes, help treat depression & PTSD, mend bones, regulate seizures, help treat ADD/ADHD & glaucoma, alleviate anxiety, slow the development of Alzheimer’s disease, and more.
Plus, hemp is eco-friendly. It’s a vital source of recyclable paper. Some organizations are already using it as a substitute for plastic. The plant fibers can also be molded to make durable fabric for clothing & accessories, providing a renewable alternative to the cotton industry’s detrimental practices. Hemp seeds offer a very efficient source of nutrition, and the oils can be a natural base for countless cosmetics.
Investors are increasingly interested in the cannabis market so let’s explore some of the best stocks!
ETFMG Alternative Harvest ETF (NYSE: MJ)
ETFMG Alternative Harvest ETF (NYSE:MJ) is known as an exchange-traded fund controlled by ETF Managers Group LLC. They focus their investments in public equity markets & stocks in the legal cultivation of cannabis, healthcare, biotechnology, pharmaceuticals, and other sectors.
In light of the older ETF’s successes, the company has launched another. They have $1.86 billion in assets under management. The fund’s price returns in the prior year have been up 59.91%, compared to the S&P 500’s 38.62%. Their total returns in the same time period have risen by 64.16%, compared to S&P 500’s total returns of ten point four percent.
Hexo Corp. (NYSE:HEXO)
One of the best cannabis stocks, Hexo Corp. is a producer & seller of cannabis in Canada. They offer dried cannabis under the Time of Day and H2 lines, Elixir which is a cannabis oil sublingual mist product line, and Decarb, a fine-milled marijuana powder product. On June 28th, the company finished the purchase of its first U.S. production facility in Colorado. This move solidified the cannabis producer’s appearance in the U.S.
Their revenue was $18.66 million, up to 14.86% year over year. The stock has gained 30.23% in the past six months and 33.79% year to date. By the end of 2021’s first quarter, six hedge funds out of the 866 measured by Insider Money held stakes in HEXO Corp. They’re worth about $8.02 million.
Village Farms International Inc. (VFF.TO)
Village Farms International Inc. is a vertically integrated greenhouse produce company based in Canada. They grow, produce, and distribute fresh produce to national grocers in North America. And they produce cannabis, of course!
Their brands include Pure Sunfarms which too is a cannabis producer; Balanced Health Botanicals, the CBD brand with an e-commerce platform; Village Fields Hemp which is a hemp grower; and VF Clean Energy, they’re a subsidiary converting landfill gas to clean energy.
The consensus of Wall Street equities research analysts says investors should “strong buy” Village Farms International stock. It means the stocks are seen as “compelling short and long-term investment opportunities.”
Looking for the best cannabis stocks? Don’t stop at this list. Wait for more, because these aren’t even half of the best companies! Tell us your thoughts in the comments!