When dealing with pot stocks, there are several sub-sectors within the niche. These include everything from money transport services all the way to companies that provide the materials to produce cannabis. What this boils down to is when looking at pot stocks to buy, there is a number of options to choose from. With goals set be each investor, one can have a much easier time making a decision about which pot stocks to watch.
One of the main topics when dealing with marijuana stocks is that of multi-state operators. These companies operate as retail cannabis sellers throughout many states in the US where cannabis is legal. As legislation continues to change, we are seeing a large uptick in the success of MSOs. For this reason, these companies deserve some attention moving into the next few months and beyond.
Pot Stock To Watch: Will This MSO Make Haste
Green Thumb Industries (GTBIF Stock Report) (GTII) is an interesting multi-state operator working throughout the nation. The company has operations in Florida, Illinois, Nevada, and Pennsylvania. Some of these markets that it works in, have yet to legalize recreational cannabis. This means that there could be a heightened amount of potential as legalization becomes a reality in these distinct areas. One of the most intriguing aspects of Green Thumb is the fact that the company has pushed out sales numbers north of $68 million.
This is partly due to its 96 retail licenses and in part due to its commitment to open a large number of dispensaries. The company has stated that it plans to open as many as 40 dispensaries by the time the year is done. This means that there could still be a large amount of growth on the table. Only time will tell, however, as there is no guarantee of success with new retail locations or the market in general. Regardless, the company remains an intriguing pot stock to keep up to date with.
Pot Stock To Watch: An Ancillary Products Producer Making Big Strides
KushCo Holdings (KSHB Stock Report) is an interesting pot stock to watch that has taken on some unique forms over the past few years. The company started as a packaging company for various cannabis products throughout the industry. After seeing some heavy success, it went on to produce ancillary products for the cannabis industry. Through a select partnership, the company has stated that it is focused on entering into the health and wellness side of the business.
Health and wellness have also become one of the fastest-growing areas of the sector, which makes it an interesting area to delve into. KushCo has continued to broaden its horizons when it comes to growth. This is one of the main reasons that some find them to be pot stock to watch.
Recently the company announced the addition of four new compliant, hemp-derived CBD brands under its Retail Services partnership with C.A. Fortune, a leading full-service national consumer products sales and marketing agency focused on lifestyle brand partnerships.
“For the past several months, we have been hard at work helping our CBD brands capture significant share in the rapidly growing, multi-billion-dollar CBD industry by onboarding them onto some of the largest national conventional retail chains,” said Jason Vegotsky, KushCo’s Chief Revenue Officer and President. “Currently, with the FDA still yet to deliver comprehensive guidance regarding the authorized use of CBD in food and beverage products, our market is to a large extent limited to tinctures and topicals. However, even at this early juncture, we have been able to successfully gain retailer authorizations and activate some of our brands across a variety of retail channels. We also have been building a portfolio of food and beverage-oriented CBD brand partners so that when the FDA does give guidance for these brands to include CBD in their products, we can quickly and successfully launch them into the major retailers. Regardless of the specific retail channel, brands trust and rely on us because of our deep understanding of the federal and state regulatory and compliance framework, as well as our robust distribution network to help them scale across the nation. Ultimately, this process will take time, just like any other consumer packaged goods industry, but we’re encouraged to see this division gaining traction and continuing to drive higher value for our customers.”