Five American cannabis stocks—Curaleaf Holdings Inc. (CURLF), Green Thumb Industries Inc. (GTBIF), Cresco Labs Inc. (CRLBF), Harvest Health & Recreation Inc. (HRVSF), and Acreage Holdings Inc. (ACRGF)—were once poised to outperform their Canadian rivals. As sales of legal cannabis were growing at a rate of more than 20% per year, according to Compass Point Research & Trading, a 2019 article by Barron’s marked the American companies as ones to watch.
Despite marijuana still being illegal under federal law, the cannabis market is growing in the U.S. as an increasing number of states legalize the substance. New Jersey, Arizona, South Dakota, and Montana were the latest states to legalize marijuana in the November 2020 election. In fact, a majority of the world’s legal sales of the drug take place in the U.S., providing investors a big reason to choose U.S. over Canadian pot stocks, especially considering the much lower valuation multiples of the former compared to the…
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