When it comes to the marijuana industry, many bulls have and continue to count their victories in recent years. As a result, marijuana stocks are now among the most active stocks in the…
stock market today. This would be thanks to the flurry of regulatory updates at the federal level. Evidently, Senate majority leader Chuck Schumer unveiled a draft of legislation looking to end federal prohibition of cannabis last month. While the bill still has its share of hurdles to overcome, some of the leading names in the industry appear optimistic.
Earlier today, Trulieve (OTCMKTS: TCNNF) CEO Kim Rivers and Curaleaf (OTCMKTS: CURLF) Executive Chair Boris Jordan highlighted their outlooks. In a Yahoo Finance interview, the duo argued that banking restrictions faced by the cannabis industry could ease by early 2022. Now, to put things into perspective, marijuana providers are mostly unable to access the conventional banking system. This would be the case as long as the calming substance remains illegal at the federal level.
To address this aspect of the U.S. marijuana trade, the SAFE Banking Act comes into play. Simply put, the bill would allow banks to work with cannabis companies in legal states. Boris Jordan said, “I do think, though, we’ve got the votes in the Republican party to get SAFE Banking through.” All in all, the U.S. weed train seems to be building momentum. Could that make one of these marijuana stocks top picks in the stock market now?
Best Marijuana Stocks To Buy [Or Sell] Today
- High Tide Inc. (NASDAQ: HITI)
- Tilray Inc. (NASDAQ: TLRY)
- Cronos Group Inc. (NASDAQ: CRON)
- GrowGeneration Corporation (NASDAQ: GRWG)
- Innovative Industrial Properties Inc. (NYSE: IIPR)
High Tide Inc.
High Tide is a retail-focused cannabis company that operates across Canada, Europe, and the U.S. Furthermore, the company’s portfolio includes a dominant Canadian cannabis retail chain, a global manufacturer, and a distributor of cutting-edge consumption accessories. Also, it has some of the most popular accessories e-commerce platforms in the world. Notably, it says that its online platforms saw almost 100 million site visits in 2020 alone.
On Thursday, the company announced that it has closed the acquisition of leading online retailer, DankStop. DankStop is a top e-commerce platform for its portfolio of consumption accessories. Through this acquisition, the company gains more than 200,000 email subscribers and further bolsters its online presence by gaining access to DankStop’s customers. Ultimately, High Tide adds an asset-light business that is already a supplier for its dropshipping catalog, resulting in enhanced efficiencies and vertical integration. With that being said, will you consider buying HITI stock?
Tilray is a pharmaceutical and cannabis company with a wide range of cannabis products. In fact, it is a leading global cannabis lifestyle and consumer packaged goods company. It continuously strives to be a trusted partner for its patients and consumers by providing them with a cultivated experience and health. With its high-quality and innovative products, the company supports over 20 brands in over 20 countries.
Last week, the company announced the launch of medical cannabis edibles in THC and CBD-rich varieties of chocolates and soft chew gummies. The new Tilray-branded edibles are now available for patients across Canada and will add to the brand’s already comprehensive offering of cannabis medicines. This includes whole flower, oils, vapes, and pre-rolls. The new product will help…
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