If you’re looking to buy cannabis stocks, the time is now.
For one thing, the plant is quickly reaching legal status in various parts of the world. While we’ve seen recreational markets flourish in Uruguay and Canada, the United States is also taking advantage of the cash crop even though it’s still federally illegal.
There is also a handful of thriving cannabis markets overseas like in the Netherlands, Germany, and Spain, all under decriminalization. If one thing’s for sure, it’s that recreational cannabis legalization is expected to boom over the next 5-10 years.
While we watch the industry expand during this time, it’s in your best interest to start investing in cannabis companies that are in it for the long haul. Below, you’ll find the top 5 cannabis stocks to buy in 2022 that are high performing and excellent for long-term growth.
Canadian cannabis company Aurora Cannabis houses various popular brands like Daily Special, MedReleaf, Aurora, Aurora Drift, and Whistler.
It’s more centered around medicinal cannabis and products, focussing on the production, distribution, and sale of these items. Aurora Cannabis is currently looking to branch its medicinal cannabis practices into international markets, including the United States, where CBD and cannabis products under 0.3% THC are legal.
Another Canada-based cannabis company, Cronos Group, focuses on the industry’s scientific and technological aspects like product development, cannabis research, and industry technology.
Cronos is partnering with various companies on innovative projects like producing minor cannabinoids to introduce them to the world of wellness. Furthermore, Cronos Group’s brand portfolio includes some big players like Spinach, PEACE+, and Happy Dance.
Perhaps one of the largest cannabis corporations, Canopy Growth, is a Canadian company that works internationally in the United States and Germany.
The company’s subsidiaries do so by producing, distributing, and selling cannabis for both medicinal and recreational purposes. Furthermore, the company announced that it’s on track to saving roughly $30 million over the next year and a half while launching other efforts to expand its profits.
If you’re looking for long-term growth stocks, consider Ayr Wellness Inc. The company focuses on the cultivation, manufacturing, and distribution of cannabis and its related products.
Some brands it includes are Kynd, Origyn, Levia, Road Tripper, and Stix Preroll. In terms of growth, Ayr Wellness’s results for Q1 2022 show a consistently smaller net loss each year while surpassing almost double its revenue in 2021.
Another valuable stock to purchase in 2022 is Cresco Labs Inc., a high-performing and consistent cannabis company that’s quickly expanding.
For starters, the company operates in 10 states where it oversees consumer packaged cannabis products and growing, manufacturing, and distribution. Across those 10 states are 70 production facilities and dispensaries that house brands like High Supply, Good News, Mindy’s, Cresco, FloraCal Farms, Remedi, Wonder Wellness Co., and Sunnyside.
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