3 Under-the-Radar Cannabis Stocks to Buy Right Now

Jushi Holdings (OTC: JUSHF), New Lake Capital Partners (OTC: NLCP), and Ascend Wellness Holdings (OTC: AAWH) are some of the lesser-known names in cannabis, especially considering two of the three turned a profit through the first six months of this year and the third is edging closer to profitability. There's plenty of growth ahead for cannabis companies. Global legal marijuana sales, estimated at $22 billion in 2022, are projected to have a compound annual growth rate of 28% over the next six years, becoming a $97 billion business by 2026, according to a report by Facts and Factors. However, investors need to be patient and keep a long-term focus, as cannabis stocks have been depressed so far this year.

I like all three of these cannabis companies. Though they don't sell their shares over a major exchange, their lack of notoriety has meant that their valuations are nowhere close to being oversold, if you compare their respective price-to-sales ratios to industry leaders'. That provides more opportunity for upside for long-term investors.