Legalize trend: stocks that will help investors

03.03.2023

Marijuana stocks don’t seem to make as much headlines as they used to. But that doesn’t mean the “green wave” has stopped.

Trulieve Cannabis ( TCNNF ) entered the cannabis industry by winning Florida’s first medical marijuana application in 2015. Today, the company has 100 stores in the Sunshine State and about 180 operated and affiliated dispensaries across the country.

The company claims to be a market leader not only in Florida, but also in Arizona and Pennsylvania.

Trulieve’s financial performance has grown significantly, and even the COVID-19 pandemic hasn’t been able to stop the momentum. In 2020, revenue was up 106 percent from 2019 levels to $521.5 million.

In 2021, revenue will increase another 80% to $938.4 million.

According to the latest earnings report, Trulieve generated $300.8 million in revenue in Q3 2022, a 34% increase over last year.

However, the company’s stock has fallen nearly 70% in the past 12 months.

Green Thumb Industries (GTBIF)

Green Thumb is a vertically integrated cannabis company headquartered in Chicago. It has 18 cultivation and production facilities, six consumer product brands, 77 open retail locations and operations in 15 U.S. markets.

Like Trulieve, Green Thumb’s stock has not been a hot commodity: the stock has fallen more than 50 percent in the past year.

The business, however, is still on the upswing.

In 2022, the company had $1.0 billion in revenue, up 13.9 percent from last year.

Curaleaf Holdings (CURLF)

With a market value of about C$3.1 billion, Curaleaf is a larger company than Trulieve and Green Thumb.

It has a huge presence in the U.S. cannabis industry with 29 cultivation sites, about 4.4 million square feet of cultivation capacity, 148 retail locations and about 2,200 wholesale partner accounts.

In the third quarter of 2022, the company’s revenue grew 7% year over year to $340 million.

Still, the heavyweight is not immune to an industry-wide sell-off: the company’s stock is down about 42% in the past six months.