New Jersey, Montana, and South Dakota voted to legalize cannabis for recreational use that year. The other states followed suit. Global cannabis production is rapidly expanding. Global revenues are projected to be around $21.3 billion by 2020, mostly due to the legalization of medical and recreational marijuana. Marijuana stocks performed well during the Covid outbreak. They all felt the repercussions of the pandemic boosted American-supplier GrowGeneration’s shares. As marijuana use becomes more mainstream, larger corporations are getting involved and profiting. Molson Coors and Anheuser are included. Bank of America recently rated Canopy Growth Corp. (CGC) a buy due to the company’s future growth prospects in the United States. Investors are closely watching JAZZ after the firm closed its $7.2 billion merger with GW Pharmaceuticals. It funds facilities for producing cannabis medicine and greenhouses. Innovative Properties revenue increased by $42.9 million, to $103 over the previous year. The stock trades at $173.07 and pays a dividend of 3.05%.
Insider Monkey gives a list of the 10 best weed stocks to buy now. OrganiGram Holdings Inc. is the top-licensed producer of both for patients and for recreational consumers. Market cap: $774 million and net revenue: $11.9 million (quarter two, 2021). OGI recently went up 78%. Prior to the merger, HEXO Corp was known as Hydropothecary Corporation. It has 2 million square feet of licensed production space in Quebec and Ontario. The price of HEXO gained 255.6% over the last year. Established in Edmonton, Aurora Cannabis has pioneered medical and recreational marijuana. Revenue in the second quarter came in at $55 million. The company increased in the past year by 5.8%. Cronos’ market capitalization is $2.9 billion, with revenue of $46.7 million in 2020. Gains have increased 42% in the last twelve months. Cronos partnered with Boston-based biotech firm Ginkgo Biotech to produce laboratory-derived cannabinoids. Tilray currently ranks sixth on the list of medical and cannabis stocks. Operating in Canada, the US, Europe, and Latin America today, the company was created in 2018. TLRY shares jumped 115% in value in the past year. For more details, please click 10 Best Weed Stocks to Buy Now.
