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.
For further details see:
3 Explosive Pot Stocks to Buy in 2022 and Beyond