A “Green Wave” is sweeping across North America. In November, voters in four states cast their ballots to legalize recreational marijuana, which will open up new cannabis markets in Arizona, Montana, New Jersey, and South Dakota. The North American legal marijuana market will likely reach $19.1 billion by next year and then grow at double-digit percentages annually.
There are certain pot stocks that are best-positioned to capitalize on the current cannabis craze. Here’s why Aphria (NASDAQ:APHA)(TSX:APHA), Trulieve Cannabis (OTC:TCNNF), and Acreage Holdings (OTC:ACRGF) are the best pot stocks to buy this December and hold for a long time.
1. Aphria
Today, investors can buy Canada’s No. 1 pot producer stock for a very low price. There is no doubt that the shares are undervalued, trading at 5.4 times sales and 1.8 times book value.
During the first quarter of 2021 (ended Aug. 31), Aphria grew its revenue to CA$145.7 million from CA$126.1 million in last year’s quarter. Simultaneously, the company increased its operating income year over year by more than five-fold to CA$20.7 million.
Aside from taking on the lead in the Canadian market, Aphria is also…