Emerging US cannabis stocks
The US cannabis industry is beginning to brew. More legislators are working to make cannabis a legal commodity in the United States at a federal level. Cannabis players like Canopy Growth (WEED) and Tilray (TLRY) finally got an opportunity to make a foray into the US following hemp legalization. With that, several emerging stocks in the United States might grab a portion of the booming industry.
Three US stocks
Three cannabis-related stocks based in the United States are plotted in the above chart. KushCo (KSHB) provides packaging solutions to cannabis companies that operate within the legal framework. So far, the company has returned ~4% in 2019. Green Thumb Industries (GTBIF) is also into consumer packaging. The company is also a cultivator with dispensaries in the United States. Green Thumb Industries has returned ~57% in 2019.
The third emerging stock in the United States that has cannabis-related operations is Innovative Industrial Properties (IIPR). Unlike the other two companies mentioned above, IIPR is participating in the cannabis industry as a REIT. The company’s portfolio is intended to only include real estate related to production and cultivation of medical cannabis.
In this series, we’ll discuss analysts’ ratings and target prices for KushCo, Innovative Industrial Properties, and Green Thumb Industries. Before we go any further, it’s important to note that these cannabis stocks (HMMJ) are emerging and have a small number of analysts covering the stocks. When there are fewer analysts, the ratings and recommendations aren’t as reliable. As time passes, more analysts are initiating coverage on cannabis-related companies.