3 Cannabis Stocks On Track to Hit $1 Billion in Revenue Next Year

If you’re looking for a top pot stock to invest in, your search needs to start in the U.S. cannabis market, which boasts many fast-growing companies that are performing incredibly well and that could be excellent buys for years to come. Three companies that look poised to battle for supremacy in the industry include Curaleaf Holdings (OTC:CURLF)Trulieve Cannabis (OTC:TCNNF), and Cresco Labs (OTC:CRLBF). And if all goes as expected, they will all reach the $1 billion mark in revenue as early as next year.

1. Curaleaf

Curaleaf is already on track to deliver more than $1 billion in revenue over the next 12 months. In its latest results, released May 10, the company reported sales of $260 million for the period ending March 31. Even if its sales were to remain constant at that number for the next three quarters, its top line would comfortably come in at more than $1 billion. But it’s likely it will blow past that mark, as revenue was up 13% from the previous period and the company continues to expand its business.

Its most recent move was the $67 million acquisition of Colorado-based cannabis company Los Suenos. In addition to expanding its reach within that state, the deal will also help bring the company’s costs down, as Los Suenos has the largest outdoor growing operation in Colorado. That will help Curaleaf generate better margins and potentially be more competitive on price.

But I wouldn’t be surprised if Curaleaf makes at least one more big move beyond this, especially since multistate operator Trulieve may well become the largest cannabis company in the country when it integrates Harvest Health into its operations in a transaction that could close as early as the third quarter of this year.

If your priority is sheer growth, then Curaleaf is the pot stock for you. Its aggressive growth strategy makes it a safe bet that the company will continue exploring every possibility to add to its top line.

2. Trulieve

On its own, Trulieve may still have been able to reach $1 billion in sales next year. But with the acquisition of Harvest Health, it’s a lock to do so. For the first three months of 2021, Harvest Health generated $89 million in revenue, putting it at an annual run rate of $356 million in sales. Add that to the $619 million in revenue that Trulieve has posted over the past 12 months and the combined business is nearly at $1 billion without even factoring in any growth.

And as with… Continue reading at Fool.com

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