CGC - The Best Cannabis Stock to Invest $1000 in Right Now
2024-04-17 07:45:00 ET
Do you want to invest in the cannabis industry? One thing you should know off the bat is that marijuana legalization isn't inevitable in the U.S., despite any news you may have heard about drug rescheduling or new bills in Congress. It's important to get that out of the way, as many investors load up on shares of Tilray Brands (NASDAQ: TLRY) and Canopy Growth (NASDAQ: CGC) in the hope that these stocks will benefit from legalization and be surefire ways to invest in the industry's long-term growth.
But in reality, that leaves you exposed to significant risk -- because while you're waiting for a day that may never come (legalization), or at least, not anytime soon, those businesses are struggling to generate any growth that doesn't come from acquisitions. They're also burning through tons of cash.
If you're serious about investing in the cannabis industry and have $1,000 that you can leave in a pot stock for the long haul, then I've got a better option for you: Investing in a cheap multi-state operator that's already generating revenue and profit in the U.S. That company is Cresco Labs (OTC: CRLBF) .
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The Best Cannabis Stock to Invest $1,000 in Right Now