As the U.S. legalize cannabis, it has seen significant growth. And the growing therapeutic and recreational use of marijuana should keep driving the industry’s growth. Hence, we think fundamentally sound cannabis stocks Curaleaf (CURLF), Green Thumb (GTBIF), Trulieve Cannabis (OTC:), and Cresco Labs (OTC:) could now be worth adding to one’s watchlist. Also, Wall Street analysts have rated these stocks ‘Strong Buy.’ Read on.The cannabis industry has been the beneficiary of legalization moves in the U.S. lately. Increasing demand for the therapeutic benefits of cannabis, accelerating legislative headway, and an increase in consumers’ acceptance of innovative cannabis products have been fueling the cannabis market’s growth. A 19% compound annual growth rate (CAGR) is predicted for the global legal marijuana market to be $100 billion by 2027. Additionally, by 2030, the U.S. marijuana market will reach $115 million.
While there are concerns about restricted capital access and stigmatization of cannabis, SAFE Banking Act offers some relief. As part of the National Defense Authorization Act, this bill was voice-voted in the lower chamber. This allows banks and cannabis companies to conduct business without any penalty.
We believe it would be a smart move to add high-quality cannabis stocks Curaleaf Holdings, Inc., (OTC) Green Thumb Industries Inc . (OTC:), Trulieve Cannabis Corp. (TCNNF) and Cresco Labs Inc. (CRLBF) to one’s watchlist. Also, Wall Street analysts rated these stocks ‘Strong Buy.’
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