The Canada-listed cannabis stocks we’ve weeded out are expected to generate $1 billion in annual sales by 2022
SmallCapPower | February 21, 2020: According to a recent report by Grandview Research, the legal cannabis market is expected to reach US$73.6B by 2027. Most experts agree that there will likely be a few players that will dominate the industry. Today we have chosen four Canada-listed cannabis stocks that are most likely to hit $1 billion in annual sales by 2022.
*Share prices as at February 19, 2020, data obtained from S&P Capital IQ
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Canopy Growth Corporation (TSX:WEED) – $28.78
Cannabis
Canopy Growth is the biggest cannabis company listed by market cap on the TSX and NYSE. The Company has the largest licensed production platform in Canada, with over 600,000 sq. ft. of production space. The Company has also secured the necessary agreements to export medicinal cannabis to Australia, Brazil, and Germany. Analysts are expecting Canopy to hit $1.2B in annual revenues by 2022, to be aided by the guidance of the newly-installed CEO by Constellations Brands – David Kline.
- Market Cap: $10,062.9M
- 7-Day Return: +11.2%
- YTD-Return: +5.4%
- 30-Day Average Trading Volume: 2,526,610
- 90-Day Average Trading Volume: 2,733,630
Curaleaf Holdings, Inc. (CSE:CURA) – $8.25
Cannabis
Curaleaf a vertically-integrated, multi-state cannabis operator (MSO) in the United States. With the Grassroots and Select acquisitions, Curaleaf will operate in 19 states, with 68 operational dispensaries, 26 processing and 20 cultivation facilities and licenses to open 131 dispensaries across the U.S. Curaleaf has announced that the HSR waiting period has expired for both the Select and Grassroots acquisitions and is waiting on final regulatory approval and for the states to transfer the licenses. Analysts estimate that Curaleaf will hit $1.5B in annual sales by 2022.
- Market Cap: $3,988.6M
- 7-Day Return: +2.1%
- YTD-Return: +0.9%
- 30-Day Average Trading Volume: 266,140
- 90-Day Average Trading Volume: 277,550
Cresco Labs Inc. (CSE:CL) – $7.30
Cannabis
Cresco Labs focuses primarily on cultivating medical-grade cannabis, manufacturing medical cannabis products, and distributing products to medical patients and recreational users. Currently, the Company has one of the largest footprints in the U.S., with operations in 11 states, 23 production facilities, 56 retail licenses and 27 operational dispensaries. In October, Cresco acquired Valley Agriceuticals, which is one of the 10 vertically-integrated cannabis business licenses in the State of New York. Analyst are expecting Cresco Labs to pull in $1 billion in revenue by 2022.
- Market Cap: $1,491.5M
- 7-Day Return: +4.7%
- YTD-Return: -18.3%
- 30-Day Average Trading Volume: 229,670
- 90-Day Average Trading Volume: 293,300
Green Thumb Industries Inc. (CSE:GTII) – $11.80
Cannabis
Green Thumb Industries manufactures, distributes, and sells various cannabis products for medical and recreational use in the U.S. GTII distributes its products primarily to third-party retail stores, but also sells its finished products directly to consumers in its own retail stores. As of May 2, 2019, it owned and operated 18 retail stores, as well as had licenses for 77 locations across 12 U.S. markets. Green Thumb operates five dispensaries within Illinois and is in the midst of a capacity expansion at one of its two production sites. As a major cannabis player in Illinois, Green Thumb is expected to benefit from the legalization of cannabis in Illinois. Analysts are forecasting $920 million in revenue by 2022.
- Market Cap: $2,610.6M
- 7-Day Return: +0.1%
- YTD-Return: -7.7%
- 30-Day Average Trading Volume: 184,140
- 90-Day Average Trading Volume: 202,110
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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