AAWH - 2 Marijuana Stocks That Could Be the Best Bargains of 2023
The marijuana industry is getting bigger again. In November, Missouri and Maryland became the latest states to permit adult-use cannabis. And while those markets may not open up next year, they still represent the expansion of an industry that continues to defy the federal ban on pot in the U.S. Investing in 2023, ahead of the coming growth trajectory could lead to some great returns for patient investors.
If you want to invest and take advantage of the industry's growth , investing in multi-state operators (MSOs) can be an excellent way to do so. And if you're wary about the risk, given that the AdvisorShares Pure US Cannabis ETF has declined by 54% this year, there are some potential bargains out there right now that can help minimize your risk. Two stocks trading at low price-to-sales (P/S) multiples that could be bargain buys are Cresco Labs (OTC: CRLBF) and Ascend Wellness Holdings (OTC: AAWH) .
Cresco Labs is a bit of an underrated buy in the cannabis industry, despite the business generating more than $860 million in revenue over the trailing 12 months and being a big player in it. That's likely because Cresco isn't as aggressive with respect to growth as Curaleaf Holdings , which is in 22 states. The company also hasn't made a name for itself by dominating a top market in the way Trulieve Cannabis tries to saturate Florida.
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2 Marijuana Stocks That Could Be the Best Bargains of 2023