A few years ago, if you had advised an investor to maintain at least one cannabis stock in their portfolio, they would not have taken you seriously. The cannabis market, however, has grown substantially and is one of the world’s hottest industries. The first weed producing company that appeared on the New York Stock Exchange was the Cronos Group in February 2018. As the world becomes more desensitized to the idea of trading marijuana stocks, predictors have already sent out their list of potential big earners for 2021. One example is Green Thumb Industries (OTC: GTBIF). It is expected to reach annual sales of $1 billion by the year 2022.
It’s clear that cannabis as an industry is going to be around for a very long time. Not only is it the world’s most commonly grown, sold, and used drug, but the legalization at the federal and state levels is decriminalizing the industry and turning it into a money-making machine. As close as experts can agree on a sure thing, Cannabis stocks are it.
Although neither recreational nor medicinal cannabis are fully legal yet in the United States, the current administration will potentially lean in that direction. This is the perfect reason people invest in companies that are still in their infancy before making it big and famous on the exchange and their stock price increases. It’s essential to research which types of marijuana stocks would be a good fit for you. This is especially true if you are hesitant about being associated with the production side of the industry. There are many other options to choose from for those who feel that even licensed cultivators are too risky an investment.
Aquaculture is a method of gardening that has been around for thousands of years. Being able to avoid control water levels can positively affect a product’s growth and composition rate. Hydroponic produce is still purchased today and is full of nutrients. GrowGeneration (NASDAQ: GRWG) provides equipment and gardening supplies for several hydroponic users, including those with legal cannabis farms. Investors like putting money into these companies because their customers’ diversity increases the likelihood of a company’s longevity.