2 Top Cannabis Stocks to Buy for the Long Haul
If you're planning on investing in cannabis stocks, it's important to take the long view. As we've seen this year, most cannabis companies have seen their shares take a hit, though cannabis stocks are hardly alone in that. The real payoff, though, is down the line as more U.S. states gradually open to medical and adult-use cannabis sales, and eventually, federal decriminalization of cannabis happens.
To get to that point, many cannabis companies may have to struggle -- and frankly, looking at their balance sheets, some of them are likely living on borrowed time. So, if one wants to successfully invest in pot companies for the long haul, look for clear survivors, businesses that have healthy balance sheets and know how to make a profit. These companies include Trulieve Cannabis (OTC: TCNNF) and Innovative Industrial Properties (NYSE: IIPR).
Trulieve's shares are down more than 48% so far this year, but the multistate operator (MSO) is well-placed to dominate once cannabis sales grow nationwide. As of the first quarter, it is the largest MSO in the United States in terms of revenue with a reported $318.3 million. It also has the most dispensaries with 168, as of June 7. Its next closest MSO competitor in the United States is Curaleaf, which has 133 dispensaries, and generated $313 million in revenue in the first quarter.
Source Fool.com
