The Canada-listed U.S. cannabis stocks we’ve chosen have seen positive growth and have increased their retail locations as the U.S. marijuana market expands
SmallCapPower| March 28, 2019: The United States has strict federal laws on cannabis, making it difficult for consumers to have access to marijuana based on their residing state. In the U.S., 10 states are fully legalized, and 23 states are legal for only medical use. In the states where cannabis use is legal, multi-state operators (MSO) enjoy the benefits that the markets have to offer. An MSO is defined as a cannabis company that operate across several states where cannabis use is legal. The five U.S. cannabis stocks we’ve listed today are all MSOs whose operations span across the country.
*Share prices as at March 25, 2019, data obtained from S&P Capital IQ
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Harvest Health & Recreation Inc. (CSE:HARV) – $12.78
Cannabis
Harvest Health & Recreation is a vertically-integrated, multi-state operator (MSO) that holds 56 licenses nationally and has a retail footprint across 11 U.S. states. Within the next 18 months, Harvest plans to cultivate more than 720,000 square feet of indoor, outdoor and greenhouse cannabis. The Company believes that its vertical approach to design, construction, and implementation should result in low production costs. On March 11, the Company entered into a binding agreement to acquire Verano Holdings LLC, one of the largest privately-held MSOs of cannabis facilities. This deal will allow Harvest to hold licences to operate up to 200 facilities in 16 states across the country, with 123 retail dispensaries, making it one of the largest U.S. cannabis MSOs.
- Market Cap: $3.6 Billion
- Number of States Operating In: 16
- Number of Dispensaries: 123
- 7-Day Total Return: +6.9%
- 30-Day Total Return: +20.6%
Green Thumb Industries Inc. (CSE:GTII) – $19.79
Cannabis
Green Thumb Industries manufactures and sells various cannabis products in the United States. The Company sells cannabis products with a brand portfolio of over 300 stock keeping units that include products such as dried flower, concentrates for dabbing and vaporizing, edibles, and topicals. The Company operates in 11 states, has 83 retail licences, and reported $17.2M of revenue in Q3/18. On November 13, 2018, the Company announced it has entered into a definitive agreement to acquire Integral Associates, one of Nevada’s top cannabis operators.
- Market Cap: $4.0 Billion
- Number of States Operating In: 11
- Number of Dispensaries: 72
- 7-Day Total Return: +6.7%
- 30-Day Total Return: +0.5%
Curaleaf Holdings Inc. (CSE:CURA) – $12.35
Cannabis
Curaleaf Holdings is an integrated medical and wellness cannabis operator in the U.S. It cultivates, processes, markets, and/or dispenses a range of cannabis products in various operating markets, including flower, pre-rolls and flower pods, dry-herb vaporizer cartridges, concentrates for vaporizing, concentrates for dabbing, tinctures, lozenges, capsules, and edibles. As of January 11, 2019, the Company reported 42 dispensaries and has established its presence across 13 key states. On March 21, the Company released its Q4/18 results, reporting revenue of $32.0M, a 49% increase over Q3/18. On the same day, BlackRock, the world’s largest asset manager, invested $11M in the Company, becoming Curaleaf’s largest institutional investor. Moreover, the Company signed a deal with the CVS pharmacy chain to sell hemp products in over 800 stores across 10 states.
- Market Cap: $5.6 Billion
- Number of States Operating In: 13
- Number of Dispensaries: 42
- 7-Day Total Return: +35.1%
- 30-Day Total Return: +20.5
Cresco Labs Inc. (CSE:CL) – $14.95
Cannabis
Cresco Labs is a vertically-integrated MSO that engages in the cultivation, manufacturing, and retailing of cannabis and related products. The Company’s leading brands include Mindy’s Edibles, Reserve Premium Cannabis, and Remedi Medical. The Company has 21 dispensaries across eight states with 51 retail licenses and 660,000 patients. On March 25, the Company announced it has completed its Michigan State application process and has been pre-qualified for a cultivation and processing license.
- Market Cap: $540.0 Million
- Number of States Operating In: 8
- Number of Dispensaries: 21
- 7-Day Total Revenue: +21.1%
- 30-Day Total Revenue: +30.7%
Acreage Holdings Inc. (CSE:ACRG.U) – US$22.72
Cannabis
Founded in New York, New York, Acreage Holdings is an investment firm that specializes in the cannabis industry. Currently, the Company’s portfolio has the most diverse holdings in the cannabis industry, including cultivation, processing and dispensing operations. With strong partnerships amongst physicians, medical researchers, and regulators, the Company is focused on further expanding its position in the industry by increasing its footprint and efforts to introduce safe, quality cannabis to the market. In its Q4/18 earnings release, the Company reported that it has expanded to a total of 24 dispensaries as of March 12. On the same day, the Company announced the completion of its Kanna Inc. acquisition, making it the Company’s first dispensary operating in California.
- Market Cap: $2.5 Billion
- Number of States Operating In: 12
- Number of Dispensaries: 24
- 7-Day Total Return: +6.9%
- 30-Day Total Return: +9.0%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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