And then, when nothing has happened and growth investors get bored and look elsewhere, cannabis stocks seem to plummet in a hurry.
Among these markets are Illinois, Massachusetts, Nevada, and California, where Jushi has dispensaries up and running and where pot is legal for recreational use.
By comparison, multi-state operator Trulieve has more than 100 locations just in the state of Florida.
For the period ending June 30, sales of $47.7 million were up 15% from the previous period and the company reported a profit of $4.8 million — more than 10% of its top line.
Jushi’s stock is down more than 24% in the past three months, but I think the bearishness is unwarranted.
Normally, I wouldn’t put a cannabis company that is operating in Canada on a list like this.
But what makes Village Farms special is its low-cost cannabis greenhouse that it operates through its subsidiary, Pure Sunfarms. For 11 straight quarters, Pure Sunfarms has posted positive earnings before interest, taxes, depreciation, and amortization .
If you’re a little uneasy about investing in Canadian pot stocks, Village Farms may be the safest route to take right now as it’s still primarily a North American produce business, with operations in Canada, the U.S., and Mexico.
It only has seven dispensaries that are up and running, four of which are in Illinois, one in Massachusetts, and two in Delaware.
16, when its sales for the period ending June 30 totaled $32.6 million and grew by a whopping 239% year over year.
During the quarter, the company also generated positive cash flow from its operations totaling $10.8 million.
Shares of MariMed are down about 3% in the past three months, the mildest of the losses on this list.