Pot stocks have been fervent with opportunity over the past few years. With so much changing so quickly, it seems as though the future of the industry is just as exciting as the present. So much is riding on what happens in the next year in terms of legislation.
This means that if places like the U.S. legalize recreational marijuana, the whole industry could rapidly shift. For now, all we can do is wait and watch some of the largest companies in the industry and some of the small guys too. Heading into the second half of the year, it’s important to keep this in mind. A number of pot stocks to watch have fallen drastically. But don’t just assume these are the best pot stocks to buy now. When you are making your list of marijuana stocks, consider both fundamental and technical strategies.
The opportunity one company presents today may completely shift tomorrow. But this same pot stock may have a better long term outlook. It all depends on what your personal strategy is when you are looking to find pot stocks to buy.
Pot Stocks to Watch #1: Trulieve Cannabis (TCNNF) (TRUL)
Trulieve Cannabis (OTC:TCNNF) is one of the foremost retailers of marijuana in the industry. The company is based out of Florida and is known as a dispensary operator. Trulieve has been working to expand into other states as well, but they have made Florida a top priority.
Currently, in the state only medicinal marijuana is legal. But many believe that this will change in the not too distant future. The company has stated that its sales should hit as much as $400 million by the end of 2020. That’s something to keep in mind. As I said above, the day to day shift may show different opportunity than a year to year change in the cannabis industry. This, however, is not unrealistic as many projections for the cannabis sector are quite high. For now, Trulieve Cannabis remains a pot stock to watch.
Pot Stocks To Watch #2: Planet13 Holdings (PLNHF) (PLTH)
Planet 13 Holdings (OTC:PLNHF) (PLTH) is another one of the larger cannabis stocks in the market. The company has only one location with a second planned. While this may sound small, the company has a bright outlook for stores that not many can rival.
Its new SuperStore just off the Las Vegas Strip will be around 112,000 square feet when fully completed. The store will hold within it a pizzeria, coffee-shop, and more. Considering the way its dispensary strategy is set up, its format could be something to pay attention to. An open display and direct engagement with budtenders make its dispensary a sought after front in Vegas.
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However, having limited locations could be another factor to keep in mind down the road. When compared to other pot stocks, many are focused on rapidly expanding a retail footprint.