Got $2,000? These 2 Cannabis Growth Stocks Can Make You Rich

All eyes are on marijuana stocks in 2021. Ongoing activity in the cannabis space is drawing more attention from investors who are looking for some growth stocks to put their money in for the long haul. The mega-merger between two Canadian companies Tilray and Aphria hyped up the sector. But I want to shift your attention from the merger to the U.S. cannabis industry, which is outperforming its Canadian counterpart…

My favorites are these two growth pot stocks that have been shining for a while now. Massachusetts-based Curaleaf Holdings (OTC:CURLF) and Chicago-based Cresco Labs (OTC:CRLBF) have shown solid revenue growth and consistent positive EBITDA and have a strong footing in the U.S. cannabis market. Cresco Labs is even profitable.

Over the past 12 months, Curaleaf stock has gained almost 366% while Cresco stock has gained 493%, wildly outperforming the S&P 500, which is up by 66% over the same period.

Both the companies’ recent quarterly results show how their growth strategies could make them leaders in the cannabis space. Let’s take a look at why they are promising cannabis picks.

Curaleaf Holdings’ revenue growth is unstoppable

Curaleaf has been consistently performing well over the last few quarters. And that performance continued in its fiscal 2020 fourth quarter (ended Dec. 31, 2020). The company saw a revenue jump of 205% year over year to $230 million.

The thing to applaud is the rate at which the company is expanding. So far this year it has opened five new stores in Florida, Pennsylvania, and Maine. At the start of 2020, it had only 54 dispensaries across 17 U.S. states; now it has 101 stores in 23 states. It has come a long way, which has allowed its retail revenue to jump 242% to $165 million in Q4 versus the year-ago period. 

Wholesale revenue also saw a whopping 578% increase year over year to $64.4 million. Its smart and timely acquisitions in 2020, like Grassroots, Curaleaf NJ, Arrow, and Maine Organic Therapy, have been a driving factor for revenue.

The staggering top-line growth pushed positive adjusted EBITDA to $54 million from $14 million in Q4 2019. With growing revenue and consistent EBITDA, Curaleaf is not far away from making profits. 

Cresco Labs is a profitable marijuana company

In terms of revenue growth, Cresco Labs has also made some drastic progress. In its recent third quarter ended Sept. 30, its top line jumped by 323% year over year, from $36.2 million to $153.2 million. Its revenue comprises two segments — wholesale contributed 59% of the total and retail added the rest. Its retail revenue includes both medical and recreational sales in the U.S. and nicotine vape sales from Canada.

Not only is its revenue growth eye-catching, but it is also a…

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