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3 Biggest Marijuana Stocks in the U.S. Cannabis Market
We all know that Canada is without a doubt one of the most important cannabis market across the globe. In October, the recreational marijuana market in Canada would be officially open. Even the biggest marijuana stocks are currently found in Canada. However, if you are an investor, there is a cannabis market you shouldn’t ignore, and that is the US.
This year alone, more than 85% of the total marijuana sales from across the globe is generated in the US. Even though this percentage would decrease when the Canadian recreational cannabis market and medical cannabis markets in Europe grow, the US is still going to generate massive percentages of marijuana sales for a long time.
Buying marijuana at a federal level is still illegal in the US, but companies are still making headway in the states that have legalized recreational or medical marijuana. So if you want to purchase marijuana stocks in the US, below are three of the best companies for you;
– Scotts Miracle-Gro
Although this company is renowned for consumer lawn and garden products, they are a top provider of hydroponics solutions to cannabis growers, and with a market cap of $4.4b, they are the largest marijuana stock company right now in the US.
– MedMen Enterprises
This company’s market cap of around $2 billion is why it comes a distant second from Scotts Miracle-Gro. However, MedMen is a pure marijuana stock, unlike Scotts. MedMen has 19 retail cannabis locations in four US states and are head and shoulders above other cannabis retailers. Their biggest market is California. You wouldn’t regret purchasing your marijuana stock from them.
MariMed who has a market cap of about $600m comes in third. This is probably because they have not been in operation for long. In 2018, the company ranked as the best performing stock for the first half of the year.