Cannabis Stocks to Buy in 2022

Stephen Andrews
30 Jan 2022

Sales of cannabis goods worldwide are anticipated to double by 2026 to $62.1 billion, and the U.S. will contribute the most to this growth! Industry experts analyze which are the multi-state operators and ancillary players that will help investors double their money in the next twelve months.

According to Motley Fool writer and contributor Sean Williams, the following five cannabis stocks are some of the best investors picks at the moment. This is a short overview of the top 5 favorites.

Truelieve Cannabis

Trulieve's early success stems from its successful establishment at the heart of Florida's medical market. By the end of 2021, the company had 160 operating dispensaries nationwide, and more than half of those are within the Sunshine State. 

Trulieve has dominated Florida's market and has managed to sustain a succession of three super-profitable years. The Florida company successfully expanded operations in Arizona last year after acquiring Harvest Health & Recreation. 

Truelieve sales growth is expected to top 50% in 2022, and calculations suggest a bargain with this company looks a lot like roughly 26 times the estimated earning per share.

Grow Generation

Ancillary companies are some of the safest choices when it comes to choosing stocks in the cannabis domain. These companies will not necessarily directly deal with cannabis, however, without their part, there can't be business, there can't be production. One of the most valuable ancillary companies expert opinion advises investors to give their bets in 2022 is Grow Generation!

GrowGen has secured success thanks to its aggressive acquisition strategy. This is one of the most profitable hydroponic and organic gardening retail operators, present in 13 states around the U.S. The company's hydroponic, soil, nutrient, and lighting solutions are helpful for consumers and enterprises of all industries and have proven particularly useful and essential for cannabis entities. 

Shares of GrowGen can be scooped up for well under two times the estimated sales for 2022. 

Planet13 Holdings

The simple idea to give people an experience they will remember has brought fortunes to Planet13, which runs the biggest dispensaries out there! The company's Las Vegas SuperStore location has 112,000 square feet with a cafe, consumer-facing processing center, events center... It has the most diversity of cannabis products a dispensary has ever had!

Planet13 Holdings also operates a dispensary in Santa Ana, California, half the size of its Vegas location, however, nothing short of attraction. Planet 13 Holdings will continue expanding in the next period, adding locations in Chicago and Florida. Its recurring profitability and controlling a significant share of Nevada's pot sales with just a single location are persuasive reasons enough why this is one of the hot buy stocks for 2022!

Jushi Holdings

This company has deployed a similar strategy to Trulieve's regarding how it expands business. Jushi has just 28 operating dispensaries nationwide, nevertheless, it has played so well to shape up its brand and create a base of loyal customers. It has sourced out stability from states which practice limited-license policy.

Currently, Jushi is present in Pennsylvania, Illinois, Massachusetts, Virginia, and California. And it has serious growth potential in 2022!

Cresco Labs

Analysts pick Cresco Labs as the fifth and final best cannabis stock to buy in 2022. Cresco Lab has 45 operating dispensaries, however, experts are more prone to praise the company's exemplary wholesale operations. 

Cresco Labs holds one of only a few cannabis distribution licenses in California, which allows the company to supply over 575 dispensaries throughout the Golden State. The company will quickly achieve recurring profitability in 2022, and it looks like an excellent green bargain.  

Stephen Andrews