While most sectors struggled amid the pandemic, the cannabis sector sparkled. While the crisis forced many people to stay at home, it also heightened anxieties — which cannabis products have been shown to help treat. The U.S. cannabis industry, in particular, outshone its Canadian counterparts in terms of revenue growth during the year…
Illinois-based Green Thumb Industries‘ (OTC:GTBIF) and Massachusetts-based Curaleaf Holdings‘ (OTC:CURLF) stock prices soared 151% and 90% in 2020. And I am not surprised at those dramatic movements in the slightest. Both companies saw revenue triple last year and achieved consistent positive earnings before income, taxes, depreciation, and amortization (EBITDA). What’s more noticeable is the rate at which both of them expanded amid a global pandemic. Let’s explore in detail why these are my two favorite marijuana stocks for 2021.
Green Thumb has never-ending growth prospects in the cannabis space
Green Thumb has taught us the value of staying true to your roots. Despite holding 96 retail licenses nationwide, Green Thumb Industries has spent a lot of time and money strengthening its footing in its home state of Illinois. It sells its medical and recreational marijuana products to consumers through its Rise and Essence store chains. Its brands include Dogwalkers, Dr. Solomon’s, and Rhythm. Green Thumb operates 48 stores across 10 states in total.
And out of these 48 stores, eight are in Illinois, where it has licenses to open two more stores. After Illinois legalized recreational cannabis on Jan. 1, 2020, the ensuing sales numbers were astonishing. Total cannabis revenue exceeded $1 billion in 2020, according to Marijuana Moment. Recreational cannabis sales alone were $669 million for the year — a remarkable number for a new cannabis market amid a pandemic.
Establishing business in key markets has boosted Green Thumb’s revenue. Its third-quarter revenue showed a…
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