2 Marijuana Stocks That Could Be Millionaire Makers

While the world still fights the coronavirus, the pandemic-induced marijuana boom is taking the industry to great heights. Cannabis was deemed an “essential item” in the U.S. during the lockdown, which spiked sales. The momentum continues even this year, which is helping U.S. cannabis companies generate more revenue and profits…

Among them, Massachusetts-based Curaleaf Holdings (OTC:CURLF) and Florida-based Trulieve Cannabis (OTC:TCNNF) have the potential to be top contenders in the cannabis space. These two are smart with their growth strategies and have established themselves well in the U.S. cannabis market. Their recent first-quarter 2021 results are proof of that. Trulieve also grabbed a lot of attention in May after it announced its acquisition of Arizona-based cannabis company Harvest Health & Recreation (OTC:HRVSF) for a deal valued at $2.1 billion.

Let’s take a look at how 2021 is looking for these two pot companies and why I believe they have the potential to be millionaire makers. 

Curaleaf’s smart growth strategies are paving its road to success

Smart and timely acquisitions have been a driving factor in Curaleaf’s outstanding revenue growth. In its first quarter of 2021 (ended March 31), revenue came in at $260 million, up 170% year over year. The company saw a surge in both retail and wholesale revenue. But a 231% boost in retail revenue to $188 million was particularly impressive, and can be attributed to organic growth across all its existing stores and contributions from six new stores across Florida, Maine, and Pennsylvania. The company had a total of 102 stores at the end of the first quarter, and even recorded some retail revenue in Arizona, where recreational marijuana became legal in January.

The company’s Select brand, a line of cannabis oil that it acquired from Cura Partners in February for $948.8 million, was mostly responsible for a 254% jump in wholesale revenue to $72 million from the year-ago period. Higher revenue brought in another quarter of positive earnings before interest, tax, depreciation, and amortization (EBITDA) of $63 million, a 213% year-over-year increase. Curaleaf is not profitable yet, but many of the acquisitions it completed in 2020 — including cannabis manufacturers and dispensaries across the nation, such as Curaleaf NJ, Arrow, MEOT, Remedy, Blue Kudu, and Alternative Therapies Group — are yet to show their full potential. These will help bolster revenue growth and bring in profits. 

Trulieve Cannabis is on its way to becoming a powerhouse

Trulieve Cannabis grabbed a lot of attention with its decision to acquire Harvest Health, (which will give the company a stronghold over a thriving marijuana market in the Northeast, Southeast, and Southwest regions. This deal, subject to shareholder approval in the third quarter, will add key markets like Arizona, Pennsylvania, and Maryland to Trulieve’s national footprint. The company expects to generate close to…

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