Some stock prices are too high for many investors. That’s unfortunate because there are quite a few great stocks with lofty share prices. There’s good news, though, if you’re interested in profiting from the fast-growing cannabis industry…
The share prices of most cannabis companies are affordable for nearly any investor’s budget. Some of these inexpensive pot stocks also offer tremendous growth prospects and strong track records. Here are three winning cannabis stocks you can buy for less than $50.
Green Thumb Industries
You can buy a share of Green Thumb Industries (OTC:GTBIF) right now for around $30. The stock is up more than 20% year to date and has nearly tripled over the last 12 months.
Green Thumb’s solid stock performance reflects the underlying strength of its business. The company sells cannabis products in 12 states with retail stores in 11 of those markets. In the first quarter of 2020, Green Thumb’s revenue soared 89.5% year over year to $194.4 million. It posted a third consecutive quarter of positive net income and a fifth consecutive quarter of positive cash flow.
The company already operates in several of the top recreational cannabis markets in the U.S., including California, Illinois, Nevada, and New Jersey. New York’s legalization of recreational marijuana opens up a new growth opportunity. In addition, Green Thumb has operations in key medical cannabis markets, such as Florida, Ohio, and Pennsylvania.
We’ll soon be able to add Virginia to the list. Green Thumb expects to close its acquisition of Dharma Pharmaceuticals in the second half of 2021. The deal will give it one of five vertical licenses in the state’s medical cannabis market. Buying Dharma could also put Green Thumb in a good position to succeed in Virginia’s recreational market, which opens in 2024.
Fifty dollars will go a long way if you want to invest in Jushi Holdings (OTC:JUSHF). The stock currently trades below $6. So far this year, Jushi hasn’t delivered a sizzling return with shares barely in positive territory. Over the last 12 months, though, the marijuana stock has almost quintupled. Jushi could also be a stock that could make you rich over the long term.
The company reported revenue of $41.7 million in the first quarter of 2021, up 29% from the previous quarter. Jushi isn’t profitable yet. However, it generated positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 of $3 million.
Jushi’s acquisitions should continue to fuel growth. In recent months, the company has…
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