Tilray, Innovative Industrial Properties and GrowGeneration
For immediate release
Chicago, IL – September 24, 2021 – Zacks.com announces the list of stocks featured on the Analysts Blog. Every day, Zacks Equity Research analysts discuss the latest news and events impacting stocks and financial markets. Recent actions featured in the blog include: Tilray, Inc. TLRY, Innovative Industrial Properties, Inc. IIPR and GrowGeneration Corp. GRWG.
Here are highlights from Thursday’s analyst blog:
3 hot cannabis stocks that should be on your watchlist
Most cannabis stocks have fallen in recent times, with major manufacturers like Jushi Holdings and Curaleaf Holdings reaching 23.8% and 9.9% respectively in the past three months. Meanwhile, the broad S&P 500 rose more than 5%.
However, it is also true that the cannabis industry experienced strong momentum before mid-February 2021. But now, as cannabis companies have not been able to report results as expected, the course of their stock has taken a hit and several marijuana investors are going through a rough patch right now. This has left many investors speculating on the fate of the cannabis industry in the near future.
With some degree of certainty, cannabis stocks will not stay low for long. In fact, historically, whenever cannabis stocks have suffered a drastic loss, it hasn’t taken long to rebound to staggering heights. So, this trend implies that now is the time to keep an eye on cannabis stocks that are well positioned to gain momentum in the short term. Plus, these stocks are surely trading at a discounted price right now, which should definitely get investors excited.
And why aren’t cannabis stocks picking up steam? In the United States, a series of regulatory updates have proven to be very useful for the cannabis industry. Among these, the cannabis legalization bill released this summer by Senate Majority Leader Chuck Schumer aims to get rid of the federal government’s ban on marijuana.
The cannabis legalization bill undoubtedly has to go through many bottlenecks, but the mere speculation that marijuana is going to be legalized will help cannabis stocks grow in the short term and the pot industry unquestionably should. doing well this year.
By the way, legalizing cannabis is a long process as there are several issues that need to be addressed by marijuana companies as well as professional associations. However, given that the majority of the population in the United States supports the legalization of marijuana for medical or recreational use, it is only a matter of time that there will be a momentous reform in the cannabis industry.
Some analysts, meanwhile, argue that simply adopting banking reform for the cannabis industry would have helped cannabis companies. But whatever the opinion, Congress is likely to legalize the cannabis industry, and that’s certainly good news for cannabis stocks.
Let’s also assume that improving the expansion of coronavirus-induced delivery mechanisms and more curbside pick-ups will boost sales and revenue for cannabis companies in the days to come. Additionally, cannabis companies are entering a phase of consolidation and looking for product innovations, which bodes well for the marijuana industry.
So, as mentioned above, here are three promising cannabis stocks that are worth checking out right now.
Tilray is a pharmaceutical company. It develops drugs, medicines, drops and petroleum products based on cannabis. Tilray is a Canadian company, which intends to operate in the United States once the federal government legalizes marijuana.
The company currently has a Zacks Rank # 3 (Hold). The company’s expected profit growth rate for the current year and next year is 71.7% and 92.3% respectively. Tilray shares have plunged 36.4% in the past three months. You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.
Innovative industrial properties is a real estate investment company. It focuses on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for medical cannabis facilities. In this process, Innovative Industrial Properties collects rental income. The company currently has a Zacks Rank # 3.
The company’s expected profit growth rate for the current year and next year is 34.2% and 35% respectively. Shares of innovative industrial properties fell 0.1% in the past month.
GrowGeneration owns and operates specialty hydroponic and organic gardening retail stores in the United States. In fact, he does not sell cannabis directly to consumers. Instead, the company sells hydroponics equipment to various marijuana companies.
The company currently has a Zacks Rank # 3. The company’s expected profit growth rate for the current year and next year is 318.2% and 39.1% respectively. GrowGeneration shares have fallen 40.5% in the past three months.
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It’s time to invest in legal marijuana
If you’re looking for big payouts, there couldn’t be a better time to jump into a young industry poised to skyrocket, from $ 17.7 billion in 2019 to $ 73.6 billion expected by now. 2027.
After a clean sweep of 6 electoral referendums in 5 states, the pot is now legal in 36 states and federal legalization of DC is expected soon and this could be an even bigger boon for investors. Even before the latest wave of legalization, Zacks Investment Research recommended pot stocks that climbed to + 285.9%.
You are invited to consult Zacks’ Marijuana Money Makers: An investor’s guide. It presents a timely watchlist of pot stocks and ETFs with exceptional growth potential.
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