3 of the Best Cannabis Stocks to Buy Now (Plenty of “Headroom” for Explosive Growth)

We’ve talked before about the dozens of different U.S. cannabis markets, and Florida is one of the biggest, most important, and richest right now. Florida cannabis dispensaries alone are on pace to do $1.2 billion in sales this year, and as much as $6 billion by 2030.

Now, Trulieve Cannabis Corp. (OTC: TCNNF) is a huge player in the Sunshine State’s medical cannabis market – around 50% of that $1.2 billion figure I mentioned will have been spent in the company’s 91 retail locations there. Its $2.1 billion acquisition of Harvest Health and Recreation and operations in 10 other states also go a long way toward making it a top multistate operator (MSO) to own right now.

But let’s get real: It’s the low-hanging fruit. It’s a fantastic stock, which is why we talk about it all the time, but a lot of these developments are priced in already.

I want to name three stocks for you that are set to be huge players in this linchpin market – stocks with plenty of “headroom” for explosive growth.

Hundreds of Millions Are up for Grabs – Here’s What to Buy

Florida is expected to become the fourth-largest legal cannabis market in the United States by 2025, trailing behind only recreational markets in California, Illinois, and New York.

By 2025, we’re projecting $2 billion a year in sales in Florida – there are hundreds of millions of dollars in sales still up for grabs.

That’s why MSOs have been on a buying spree in Florida in order to claim their stake in one of the most potential-filled markets in the country before recreational sales are even legalized.

Once that happens, and it inevitably will, there will be so much more money to be made.

These are the three companies you should own to take full advantage of all the moneymaking opportunity that Florida’s cannabis market has to offer…

Ayr Wellness Inc. (OTC: AYRWF) made a name for itself in Florida in December 2020 when it acquired Liberty Health Sciences and became the company with the second-most dispensaries in the state after Trulieve with 42 storefronts open today.

Then in September, Ayr closed on its acquisition of Garden State Dispensary in New Jersey, including its three dispensaries and one of only 12 vertically integrated licenses in the state. Plus, when New Jersey recreational cannabis sales kick off, Ayr will be in a commanding, profitable position.

Its 42 dispensaries in Florida, plus an additional 20 storefronts in six other states, have made Ayr one of the best up-and-coming multistate operators to own right now – in Florida and beyond.

Planet 13 Holdings Inc. (OTC: PLNHF) is best known for its completely unique cannabis SuperStore, a full-on cannabis tourist attraction with locations in Las Vegas and Orange County, with a third store coming to the Chicago area.

Then last month, just days after announcing its third location in Chicago, Planet 13 announced its entry into Florida by acquiring one of only 22 vertically integrated licenses in the state.

But here’s where it gets interesting – because Planet 13 won’t be opening a SuperStore in Florida just yet. The company is instead working to build out its cultivation operations and brand presence in Florida’s medical market with smaller locations throughout the state.

With the acquisition of this vertically integrated license, Planet 13 opened up a door to so many more moneymaking opportunities in Florida.

Once recreational sales are legalized, imagine the possibility of a Planet 13 SuperStore in Orlando or Miami… the moneymaking potential for investors will grow exponentially.

Curaleaf Holdings Inc. (OTC: CURLF) has long been a strong contender in Florida, with 37 dispensaries already operational, and is the second-highest seller of cannabis flower statewide after Trulieve.

Combine that with the fact that Curaleaf expects to have 60 dispensaries open in Florida by the end of 2022, and Curaleaf will be in line with Ayr as one of Trulieve’s top competitors.

And with recreational cannabis legalization on the horizon – whether it be federal or at the state level – Curaleaf will have positioned itself to take full advantage of all the money there still is left to be made in Florida.

— Jack Delaney

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Source: Money Morning