With the difficult conditions of the cannabis market showing some signs of easing in the U.S. and Canada, the odds of a summertime rally of cannabis stocks are higher than ever. What’s more, the industry is now on the verge of experiencing a few regulatory catalysts in several different regions, paving the way for growing markets and larger top lines, too.
So, without further ado, let’s dive in and examine three of the top cannabis stocks that have a good shot at climbing during the next few warm months.
1. SNDL
SNDL (NASDAQ: SNDL) stock is already soaring, and with long-awaited profitability inching nearer and nearer with every quarter, it might not have any problem continuing to climb throughout the fall as well.
During the past three years, its trailing-12-month (TTM) gross profit climbed by 351%, arriving at $154.3 million. To accomplish that, it reduced costs while opening new stores, two processes that are set to continue. In particular, this year, it is making inroads in British Columbia with its Spiritleaf brand stores and also via its recent acquisition of Dutch Love, which will enable it to open Value Buds brand stores in the region throughout this year.
Beyond the immediate gains that expanding its retail footprint is likely to provide, its SunStream Bancorp cannabis investment bank is now officially cruising for opportunities to invest in U.S. marijuana businesses.
Florida is an area of special interest thanks to its large market and shifting regulations. While the income offered by lending to businesses there probably won’t be enormous right away, it will have the benefit of requiring no actual operational expenditures to generate, which will help shore up the bottom line, perhaps significantly.
2. Green Thumb Industries
Green Thumb Industries (OTC: GTBIF) is planning to expand its retail footprint from the 93 stores it currently has spread across 14 states in the U.S., and that will sustain its top-line growth, driving its shares upward in the process.
During the past 12 months, its quarterly revenue rose by 9.2%, reaching $275.8 million in Q1. While that…
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