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By 2025, the cannabis market is expected to soar by 380% to $66.3 billion, according to Grandview Research.
Beyond that, Money Morning Director of Cannabis Investing Research Greg Miller says full-on cannabis legalization is the closest it has ever been. Thanks to the Marijuana Opportunity Reinvestment and Expungement Act's (MORE) approval by the U.S. House Committee on the Judiciary in Nov. 2019, cannabis could be removed as a Schedule I drug from the Controlled Substances Act.
It's really no surprise we're seeing this unfold, either. There are THC and CBD oils, lotions, edibles, medicines, and more skyrocketing in popularity across North America. And if the U.S. House of Representatives pass the bill, marijuana stocks will explode in 2020.
So, right now is the perfect time to start buying cannabis stocks.
But not every marijuana stock will benefit from the booming cannabis sector. And finding cannabis stocks worth your investment can be challenging. This is especially true once you realize there are hundreds of publicly traded marijuana firms around the globe.
Fortunately, investing in cannabis stocks doesn't need to be a headache. In fact, some of the best cannabis stocks are trading at value prices and have incredible upside potential.
We're talking below $10 per share. And with prices this low, it doesn't take much good news to send these stocks to money-doubling heights.
Let's say a stock is trading for $2 and grew by $1 in a week. That would be a 50% gain in just a few days.
And investing in a few stocks like this could help you see great returns. That's why Money Morning is here to help you find some of the best marijuana stocks.
We've uncovered two cannabis stocks poised to profit from the next wave of North America's green gold rush.
One could even skyrocket as much as 178%...
Best Cannabis Stocks to Buy, No. 2: Medicine Man Technologies
One top cannabis stock to buy is the Denver-based marijuana firm, Medicine Man Technologies Inc. (OTCMKTS: MDCL). MDCL is a full-service consulting and business planning firm that offers a variety of cannabis cultivation solutions to up-and-coming marijuana businesses.
It essentially provides the knowledge, tools, and solutions to help those with the capital to start their own marijuana companies get off the ground. And because of how competitive recreational and medical marijuana markets have become, it helps firms get a leg up on the competition.
Plus, MDCL is making moves to secure its foothold in the marijuana market. Back in September 2019, it announced its acquisition of Colorado dispensary Roots RX. This benefits MDCL by providing it with top-tier cannabis to provide to its clients.
In the same period, MDCL also bought cannabis edibles producer Canyon LLC and Colorado-based cannabis operator Strawberry Fields.
Now, the company has operations in 20 states across the U.S. and in seven countries, total. Because of this, it's on its way to becoming one of the biggest seed-to-sale operators in the world.
In fact, it has a market cap of $117 million. And MDCL stock currently trades at $2.94 per share.
But our top cannabis stock to invest in could soar as much as 178% over the next year...
Best Cannabis Stocks to Buy, No. 1
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One of the best marijuana stocks is Cresco Labs Inc. (OTCMKTS: CRLBF). This is a Chicago-based marijuana firm, and it's one of the largest marijuana operations in the United States, with over 835 full-time employees.
What makes this cannabis company unique are the moves it's making to profit from the growing legalization of recreational marijuana in 2020.
In Illinois alone, Cresco already operates five dispensaries. MJBizConNext reports that Cresco has five more Illinois dispensaries underway, too.
But the company isn't limited to its home state.
Over the last few years, Cresco has bought several marijuana distributors and dispensaries across states like California, Nevada, Ohio, Massachusetts, Michigan, Arizona, and Pennsylvania.
Two of these include a dispensary in Nevada called Tryke and a distributor known as Origin House in California (the state's biggest distributor) that Cresco bought in 2019.
This has helped make Cresco one of the biggest U.S. marijuana companies, with its 2018 revenue surpassing $43 million. This has netted the company a valuation of over $818 million.
And we think it'll go higher.
Cresco's expanding footprint in the growing U.S. recreational marijuana market will lead to even greater potential cash flow. If the MORE act passes and removes cannabis as a Schedule I drug, Cresco's profits could explode. But even if it doesn't, states will continue to legalize marijuana on the state level.
In 2020, Missouri, Arkansas, North Dakota, South Dakota, Mississippi, Idaho, Nebraska, Arizona, New Jersey, and Florida are anticipated to legalize marijuana.
Once this happens, Cresco stock could rocket from $6.55 per share to as high as $18.22 per share. That's a potential growth of 178%...
Illinois Becomes the 11th State to Legalize Cannabis (Making More People Rich)
Cannabis laws are being reformed en masse: Illinois has not only become the 11th - and second-largest - state to legalize marijuana, but the first to do so by way of state legislation.
That means the medical, personal, and economic benefits of "America's Green Gold Rush" are appealing to Republicans and Democrats alike.
One cannabis research executive is hailing Illinois the "Marijuana Mecca of the Midwest," a hallmark of the rising uncapped profit potential ahead.
Once the feds end cannabis prohibition nationwide, all bets will be off - demand will boost share prices through the roof. But you can still get in on the ground floor, just in time for what could be the windfall of the century.
Illinois is already housing some of our top picks in the industry, so a few of our favorite stocks could get yet another boost.
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About the Author
Daniel Smoot is a Baltimore-based editor who helps everyday investors with stock recommendations and analysis. He regularly writes about initial public offerings, technology, and more. He earned a Bachelor's degree from Towson University.