Medical sales reached $2.6 billion in 2023
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Dear Fellow Investor,
Cannabis stocks could see a good deal of near-term upside as we near potential legalization in Florida. In fact, should Florida legalize its adult-use, the state could see a windfall of $4.5 billion from sales by 2028, says Business Insider. "The state's medical cannabis sector remains robust, with patient numbers surpassing 878,000 this month and sales reaching $2.6 billion in 2023, marking an 18% increase from the previous year," they added. As we get closer to that potential legalization, you may want to keep an eye on stocks that could do well with it.
Company: Curaleaf (SYM: CURLF)
"The Supreme Court's decision to allow the legalization of cannabis to appear on ballots this November holds the key to unlocking a potential tripling of the total cannabis market in Florida to $6 billion in sales," as noted by Benzinga.com.
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Company: Trulieve Cannabis (SYM: TCNNF)
Trulieve Cannabis (SYM: TCNNF) could see higher highs as we near potential legalization in Florida. Alliance Global Partners even noted TCNNF is best positioned for that. Analysts at Needham also raised their price target on TCNNF to $14.50 with a buy rating. Analysts at Canaccord also raised their price target to $38, with a buy rating.
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ETF: Advisor Shares Pure US Cannabis ETF (SYM: MSOS) If you want to diversify, there's the Advisor Shares Pure US Cannabis ETF (SYM: MSOS).
With an expense ratio of 0.60%, the Advisor Shares Pure US Cannabis ETF (SYM: MSOS) is the first actively managed U.S.-listed ETF with dedicated cannabis stocks to buy focusing exclusively on U.S. companies, including multi-state operators, as noted on the ETF's site.
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