3 Best Cannabis Stocks To Buy

Data indicates that the marijuana industry will double by the year 2025. It's anticipated that more US states and some countries will continue to legalize or decriminalize cannabis products. Legalization in the US may even take place on the national level under the Biden administration.

Don't miss out on this substantial growth opportunity; add cannabis stocks to your investments while the industry is still relatively undeveloped. Here are a few options poised for growth and profitability.

1. Canopy Growth Corp (WEED)

Due to analyst projections that cannabis use will become legal across the US within the next 5 years, Canopy Growth Corp (WEED) is a wise addition to your portfolio. Canopy Growth develops and distributes a variety of cannabis-infused products, including beverages, oils, edibles, topical products, and vapor-based alternatives. With key partnerships already in place in the US and Canada, this cannabis stock is primed to experience long-term growth.

The company strives to create top-quality products while developing a loyal customer following. Canopy Growth plans to do this by cultivating meaningful relationships with its customers.

2. Sundial Growers Inc (SNDL)

Sundial Growers is a company that grows cannabis and develops cannabis products. While shares of Sundial Growers Inc (SNDL) have already experienced massive growth in 2021 thanks to the stock's popularity on Reddit and other investor forums, it's a fantastic contender for long-term growth.

The stock's price-to-sales ratio is cheaper than other cannabis stocks. As cannabis use increases due to decriminalization, legalization, and changing attitudes, sales for Sundial Growers are anticipated to increase, generating profits for the company. Investor analysts believe that this stock is a good option for short and long-term growth.

3. Cronis Group Inc (CRON)

Cronis Group Inc (CRON) is a global producer and distributor of cannabis-based products. The company currently distributes products in 5 continents. This cannabis stock is situated for growth as cannabis use becomes more widespread across the globe. Since it's already a global distributor, the company has the infrastructure in place to ramp up its operations.

While the company experienced lower-than-expected sales and growth in 2020, this trend is expected to reverse in 2021 and future years.