With the laws around cannabis in the U.S. gradually being relaxed, the cannabis industry has witnessed significant momentum of late. And the growing therapeutic and recreational use of marijuana should keep driving the industry’s growth. Hence, we think fundamentally sound cannabis stocks Curaleaf (CURLF), Green Thumb (GTBIF), Trulieve Cannabis (OTC:TCNNF), and Cresco Labs (OTC:CRLBF) could now be worth adding to one’s watchlist. Also, Wall Street analysts have rated these stocks ‘Strong Buy.’ Read on.The cannabis industry has been the beneficiary of legalization moves in the U.S. lately. Increasing demand for the therapeutic benefits of cannabis, accelerating legislative headway, and an increase in consumers’ acceptance of innovative cannabis products have been fueling the cannabis market’s growth. The global market for legal marijuana is expected to reach $100 billion by 2027, registering a 19% CAGR. Also, the U.S. cannabis market is projected to reach $115 billion by 2030.
Although restricted access to capital and a stigma surrounding cannabis usage are still concerns, the SAFE Banking Act brings some relief. This bill, which was approved by a voice vote in the lower house as part of the broader National Defense Authorization Act, allows banks to do business with cannabis companies without fear of penalty.
Therefore, we think it could be wise to now add quality cannabis stocks Curaleaf Holdings, Inc. (OTC:CURLF), Green Thumb Industries Inc . (OTC:GTBIF), Trulieve Cannabis Corp. (TCNNF) and Cresco Labs Inc. (CRLBF) to one’s watchlist. Also, Wall Street analysts rated these stocks ‘Strong Buy.’