CRON - 3 Explosive Pot Stocks to Buy in 2022 and Beyond
Given the pullback in shares for cannabis companies this year, it's not easy to find stocks in the sector with apparent explosive growth ahead, but NewLake Capital Partners (OTC: NLCP) , Cronos Group (NASDAQ: CRON) and Trulieve Cannabis (OTC: TCNNF) continue to show annual double-digit revenue growth.
The stocks are all in different levels of cannabis involvement. NewLake Capital is an emerging real estate investment trust ( REIT ) that specializes in leasebacks with cannabis companies short on capital; Trulieve is the biggest player right now in vertical integrated cannabis sellers; and Cronos is a smaller cannabis seller that is rapidly developing its cannabis brands.
NewLake is still small but has big plans. The company just spent $50 million on three properties, using the money raised from its initial public offering (IPO). It bought a 38,000 square-foot cultivation facility in Pennsylvania for $14.5 million and a 56,000 square-foot cultivation facility in Nevada for $13.6 million. It also agreed to spend $21 million to expand an existing cultivation facility it owns. That leaves NewLake with 31 properties, up from only five leased properties at this time in 2020.
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3 Explosive Pot Stocks to Buy in 2022 and Beyond