With most leading cannabis companies reporting significant revenue growth in 2020 and guidance for 2021 showing higher revenue the industry is expanding rapidly.
Given that investing in cannabis stocks offers exposure to a high growth market more investors are looking for the best companies.
In essence, this gives leading cannabis companies the ability to establish new market share in new areas.
Because they don’t actually touch the cannabis plant most of these equities trade on the major US stock exchanges.
From current trading levels, these marijuana stocks could deliver future short-term and long-term gains for investors this year.
If you’re looking for a long-term investment in the cannabis market The Scotts Miracle-Gro Company has one of the leading nutrients and hydroponic supply companies in the cannabis industry.
With a decent dividend for shareholders and significant growth SMG stock could be one of the best marijuana stocks to add to your long-term portfolio.
Releasing its first-quarter 2021 results with total revenues of approximately $42.9 million for the period the company saw an increase of 103% compared to the $21.1 million in Q1 of 2020.
According to analysts at Tip Ranks IIPR stock has a 12-month average price target of $207.67 per share.