Sumary of 2 Cannabis Stocks That Could Make You Rich:
- If you a growth investor who wants to earn some fantastic long-term returns, cannabis is an industry you shouldn’t overlook.
- Analysts from Grand View Research project the global legal marijuana market will be worth more than $70 billion in 2028, growing at a compound annual growth rate of 26.7% until then.
- It’s still important to buy shares of companies that have been able to balance growth while maintaining strong bottom lines — this minimizes the risk of future share dilution.
- The company hasn’t been shy about expansion, and it is likely to hit the $1 billion revenue mark this year.
- Over the past 12 months, its shares have soared more than 86%, outpacing the Horizons Marijuana Life Sciences ETF, which has increased by a more modest rate of 33%.
- In its most recent earnings results, released on May 10 for the period ending March 31, the company said it raised $300 million to focus on and scale its operations in states that have recently legalized marijuana for recreational use.
- Here’s how it has done in terms of the past four quarters when looking at both its sales and adjusted EBITDA — what cannabis companies usually rely on as a kinder measure of profitability: Period Ending Total Revenue YOY Growth Rate Adjusted EBITDA March 31, 2021 $260 million 170% $63 million Dec.
- If Curaleaf can continue growing not just its revenue but its bottom line, there’s little doubt that the stock can be a long-term buy that will make you rich over the years.