3 Cannabis Stocks Wall Street Loves

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While 2020 was a momentous year for the cannabis industry in the United States, its growth trajectory remains strong this year also. The sales of both medical and recreational cannabis smashed records in the mature markets of Oregon and Colorado and hit new highs in emerging markets like Illinois and Ohio.

The industry’s growth has been bolstered by wider legalization of marijuana in more states and potential federal decriminalization of the plant and its derivatives. Although full-scale decriminalization is still some time off, Governors in various states have signaled that they will soon start reversing state bans on marijuana and push for federal decriminalization.

An increasing uptake of marijuana-based health treatments and dietary additives, along with strong consumer demand for recreational marijuana, have made Wall Street analysts bullish about leading cannabis stocks such as Curaleaf Holdings, Inc. (CURLF - Get Rating), Harvest Health & Recreation Inc. (HRVSF - Get Rating), and Green Thumb Industries Inc. (GTBIF).

Curaleaf Holdings, Inc. (CURLF - Get Rating)

Headquartered in Wakefield, Massachusetts, CURLF is an integrated medical and wellness cannabis operator in the United States. It operates through two segments—Cannabis Operations and Non-Cannabis Operations. The company provides hemp-based CBD products, vaporizing oils, cartridges, concentrates, capsules, mints, edibles, and flowerpots.

This month, CURLF agreed to acquire EMMAC Life Sciences Limited, the largest vertically integrated independent cannabis company in Europe. The acquisition will allow  CURLF to expand its presence into the nascent European cannabis market.

Last month, the company announced plans to expand certain products into Utah. Its Select Elite product will be available to patients at medical cannabis pharmacies across the state. CURLF also plans to launch more diverse product offerings under the brand in the coming months to meet increasing medicinal needs.

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