With state legalization expanding and financial troubles receding, Wall Street says it’s time to pay attention to U.S. marijuana stocks.
Their path to profitability is firmer than their better-hyped Canadian counterparts, analysts say. The playing field is bigger, even though cannabis isn’t federally legal yet. Sales growth for the biggest producers is stronger. And the growth is helping reshape the U.S. cannabis industry as big companies buy up smaller ones.
“Profitability between Canadian and American operators is night and day,” said Eric Des Lauriers, a marijuana stocks analyst at Craig-Hallum.
Top U.S. pot producers like like Green Thumb Industries (GTBIF), Curaleaf (CURLF), Trulieve (TCNNF) and Cresco Labs (CRLBF) have operations stretching across multiple legal states. Analysts point to those companies as the best equipped for continued growth in an industry whose sales could surpass $28 billion next year.
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