Where will the cannabis industry be in a decade? You can bet that it’s going to look a lot different than it does now. More states could legalize adult-use recreational cannabis, and medical cannabis could be legalized at a national level.
These prospects translate to tremendous opportunities for investors with a long-term perspective. But what are the best ways to capitalize on those opportunities? Here are three top marijuana stocks to buy and hold for the next 10 years.
Image source: Getty images.
Scotts Miracle-Gro
Scotts Miracle-Gro (NYSE:SMG) just might be the most likely to succeed with changes in the cannabis industry. Back during the gold-rush days, those who supplied picks and shovels to gold miners usually profited more than the gold miners themselves. Scotts is arguably the best picks-and-shovels cannabis stock on the market.
The company’s Hawthorne segment ranks as a leading supplier of organic and hydroponics products to cannabis growers. Hawthorne has more than doubled in size over the last three years. With the continued expansion of the U.S. cannabis market, the business could be in a position to deliver strong double-digit percentage sales growth year in and year out.
You might think that Scott’s core consumer lawn and garden business might be boring. However, the segment has generated sales growth of more than 35% over the last three years. That level of growth, fueled in large part by the COVID-19 pandemic,…
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Where will the cannabis industry be in a decade? You can bet that it’s going to look a lot different than it does now. More states could legalize adult-use recreational cannabis, and medical cannabis could be legalized at a national level.
These prospects translate to tremendous opportunities for investors with a long-term perspective. But what are the best ways to capitalize on those opportunities? Here are three top marijuana stocks to buy and hold for the next 10 years.
Image source: Getty images.
Scotts Miracle-Gro
Scotts Miracle-Gro (NYSE:SMG) just might be the most likely to succeed with changes in the cannabis industry. Back during the gold-rush days, those who supplied picks and shovels to gold miners usually profited more than the gold miners themselves. Scotts is arguably the best picks-and-shovels cannabis stock on the market.
The company’s Hawthorne segment ranks as a leading supplier of organic and hydroponics products to cannabis growers. Hawthorne has more than doubled in size over the last three years. With the continued expansion of the U.S. cannabis market, the business could be in a position to deliver strong double-digit percentage sales growth year in and year out.
You might think that Scott’s core consumer lawn and garden business might be boring. However, the segment has generated sales growth of more than 35% over the last three years. That level of growth, fueled in large part by the COVID-19 pandemic,…
