2 Top Cannabis Stocks to Buy for the Long Haul
The cannabis industry has not been a hot place to invest in of late. Pot stocks have been crashing in value over the past year as the Horizons Marijuana Life Sciences ETF has cratered an incredible 66% during that time, while the S&P 500's losses have been a more modest 12%.
But when looking at the long term, the industry still possesses attractive potential. Analysts from BDSA project that global cannabis sales will hit $61 billion by 2026 -- that's 74% higher than the $35 billion that the market will be worth this year. There's plenty of growth available. And a couple of pot stocks that can make good buys amid all those opportunities are Cresco Labs (OTC: CRLBF) and Ayr Wellness (OTC: AYRW.F)
Chicago-based pot producer Cresco Labs has been hitting new 52-week lows, and at around $2.50 per share, it's down close to 80% from its high. And yet this is a company that's poised to potentially become the largest marijuana producer in the country once its acquisition of fellow multi-state operator Columbia Care goes through. That's expected to happen before the end of this year.
Source Fool.com
