The marijuana industry has been booming even during a global pandemic. Marijuana was deemed an “essential item” during lockdowns in Canada and the U.S., which drove cannabis sales through the roof in both places — U.S. legal cannabis sales grew 46% year over year to $17 billion in 2020.
Sales are on the rise this year, too, driving revenue and profits for cannabis companies. The U.S. cannabis industry, in particular, has been performing exceptionally well compared to its Canadian counterpart. Among the U.S. companies, Illinois-based Green Thumb Industries (OTC:GTBIF) and Cresco Labs (OTC:CRLBF) are my top picks at the moment. Both performed well in their most recent quarters, showing triple-digit revenue growth.
There’s also one Canadian pot company, Canopy Growth (NASDAQ:CGC), that has been standing out from its peers as well — mostly because of its strategic decision to partner up with U.S. beverage giant Constellation Brands, which is keeping its pockets full. Let’s take a look at why these companies have the potential to be millionaire makers.
Image source: Getty Images.
1. Green Thumb Industries
Green Thumb’s exceptional performance continued in its first quarter of 2021, with revenue up 89.5% to $194.4 million, driven by higher growth from all 12 states in which it operates. Increased foot traffic in its 56 retail stores and 13 new store openings during the quarter added to this remarkable performance. Higher revenue…
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The marijuana industry has been booming even during a global pandemic. Marijuana was deemed an “essential item” during lockdowns in Canada and the U.S., which drove cannabis sales through the roof in both places — U.S. legal cannabis sales grew 46% year over year to $17 billion in 2020.
Sales are on the rise this year, too, driving revenue and profits for cannabis companies. The U.S. cannabis industry, in particular, has been performing exceptionally well compared to its Canadian counterpart. Among the U.S. companies, Illinois-based Green Thumb Industries (OTC:GTBIF) and Cresco Labs (OTC:CRLBF) are my top picks at the moment. Both performed well in their most recent quarters, showing triple-digit revenue growth.
There’s also one Canadian pot company, Canopy Growth (NASDAQ:CGC), that has been standing out from its peers as well — mostly because of its strategic decision to partner up with U.S. beverage giant Constellation Brands, which is keeping its pockets full. Let’s take a look at why these companies have the potential to be millionaire makers.
Image source: Getty Images.
1. Green Thumb Industries
Green Thumb’s exceptional performance continued in its first quarter of 2021, with revenue up 89.5% to $194.4 million, driven by higher growth from all 12 states in which it operates. Increased foot traffic in its 56 retail stores and 13 new store openings during the quarter added to this remarkable performance. Higher revenue…
