Cannabis investors have suffered some serious losses this year, and there's little hope of that changing anytime soon. That's why investing in stocks in other industries that also have exposure to the upside of the cannabis sector is the best option for marijuana investors today. Two stocks that fit these criteria are tobacco giant Altria Group (NYSE: MO) and gardening company Scotts Miracle-Gro (NYSE: SMG).
These two companies offer investors significant growth opportunities now that they've both become involved in cannabis in different ways. Let's take a look at which of these two stocks investors should consider buying today.
Altria hasn't generated much growth in recent years, with sales climbing from $18.9 billion in 2015 to $19.6 billion in 2018, increasing just 4% in three years. That's why the company needs its investments in e-cigarette maker JUUL Labs and cannabis company Cronos Group (NASDAQ: CRON) to inject more sales into its financials. Altria's profits totaled $1.8 billion over the past 12 months and the company has the capacity to absorb a short-term hit for the sake of future growth over the long-run.