Finance

Smoking weed is now more popular than smoking tobacco in the US — here are stocks to profit from the big green wave

Looks like a new era is arising. Now that weed is more popular than cigarettes, be ready to gain some money with this change.

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You occasionally get to see a significant changing-of-the-guard event during polling.

That occurred a few weeks ago when data from Gallup on marijuana and tobacco use in the US were made public. Finally, two long-term patterns came together.

For those who frequently walk the streets in some neighborhoods, this probably doesn’t come as a big surprise.

The streets smell like what I assume worried parents think a rock concert smells like, and shops selling cannabis accessories are sprouting up left and right.

However, it was unimaginable that marijuana would become more popular than cigarettes at the time of the first lunar landing in 1969.

So, like many things in life, some values change, and believe me, that makes a lot of difference in the economics and the way some people invest their money into.

With that said, even if you are a smoker or not, there are some ways to profit from it.  In this article, we are going to be talking about some ways you can make some cash with this trend.

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Truelieve Cannabis Corp

Trulieve Cannabis joined the cannabis market in 2015 after being awarded Florida’s first medicinal marijuana application. Today, it operates and is linked with about 150 dispensaries across the country, including 100 outlets in the Sunshine State.

The business asserts that it holds dominant market positions in Arizona, Pennsylvania, and Florida

Even the COVID-19 epidemic was unable to slow the growth of Trulieve’s finances. Revenue increased by 106% from 2019 to $521.5 million in 2020.

Revenue increased by an additional 80% to $938.4 million in 2021.

The most recent earnings report shows that Trulieve generated $320.3 million in revenue in Q2 2022, an increase of 49% year over year.

However, the stock has lost approximately 40% of its value so far this year.

Analyst Derek Dley with Canaccord predicts a recovery.

The analyst has given Trulieve a “buy” rating and set a C$57 price objective on its shares, which would indicate a potential gain of 200%.

Green Thumb Industries

Chicago-based Green Thumb is a vertically integrated cannabis business. It operates in 15 U.S. markets and has 17 cultivation and manufacturing facilities, six consumer product brands, 77 open retail locations, and.

Green Thumb stock hasn’t been a hot item, much like Trulieve: shares are down more than 30% in 2022.

However, business is still expanding.

The quarter that concluded in June saw a total of $254.3 million in revenue, an increase of 4.8% sequentially and 14.6% over the previous year.

The final result, though, has been the finest part. Green Thumb recorded its eighth consecutive quarter of positive net income with a profit of $24.4 million for the quarter.

Curaleaf Holdings

Curaleaf has a market valuation of over $4.6 billion, making it a larger organization than both Trulieve and Green Thumb combined.

With 26 cultivation locations, a capacity of around 4.4 million square feet, 136 retail outlets, and more than 2,150 wholesale partner accounts, it has a significant footprint in the U.S. cannabis business.

Revenue increased by 8% year over year to $338 million during the second quarter.

Notably, Curaleaf places a high priority on research and development: new products introduced in the previous 12 months accounted for almost one-fifth of its Q2 revenue.

However, despite being a heavyweight in the marijuana market, shares have fallen more than 20% thus far in 2018.

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