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US legalization is approaching: Here are the best cannabis stocks to buy

When this year started, I talked about when the United States was set up Pursuing the legalization of recreational cannabis.. Cannabis use increased in North America during the COVID-19 pandemic. Entrepreneurs and investors are struggling to enter the largest cannabis market on the planet. Today, as US legalization negotiations heat up, I would like to find the best cannabis stock to steal.

Will the legalization of cannabis be the next big impetus for the Biden administration?

A huge $ 1.9 trillion COVID bailout bill passed the House of Representatives last week. This resulted in the first major legislative victory for the Biden administration. It also opens the door to the next batch of legislative goals. Cannabis industry enthusiasts hope that federal legalization, or at least decriminalization, is imminent. This will continue to be a plus for cannabis stocks.

In early March, the House Commission approved a bill that would denounce possession of all currently illegal drugs and encourage investment in substance abuse abuse. This is a solid step forward for the cannabis sector, and generally for drug treatment throughout the United States. Unfortunately, the signs of federal legalization are to be read at this stage. Cannabis’s top CEO hopes to bring more specific news over the next two years.

These cannabis stocks are ready to benefit from US legalization

Afria (TSX: APHA)(NASDAQ: APHA) It is one of the largest cannabis producers in Canada. The stock surged 177% in 2021 as of the afternoon trading on March 16th. Stocks have increased by more than 750% from the previous year.I suggested investors should Target This cannabis is in stock in February.

Investors can expect Q3 2021 results in April. In the second quarter of 2021, Aphria announced revenue growth of $ 160 million, up 33%. He also reported that positively adjusted EBITDA increased for the seventh straight quarter, rising to $ 12.6 million in the most recent quarter. Aphria’s cash cost per gram fell to $ 0.79 for the fifth straight quarter. The company’s CEO said Aphria is looking to expand in the United States in early 2021.

Canopy growth (TSX: WEED)(NYSE: CGC) It remains the largest cannabis stock in TSX market capitalization. The share of the canopy has so far increased by 26% in 2021. Inventory has increased by more than 190% year-on-year.

This top cannabis stock is well-positioned to benefit from US legalization. Canopy Growth gained pole position with the acquisition of Acreage Holdings in 2019. Net sales of Canopy Growth in the third quarter of 2021 were $ 152 million, up 23% from the previous year. Adjusted EBITDA loss was $ 68.4 million, a 29% improvement over the same period last year. No Canadian cannabis stock is suitable for penetrating the US market in early 2021.

Another cannabis stock to rob today

OrganiGram Holdings Another cannabis strain worth noting prior to potential US legalization. Its share has so far surged 175% in 2021. British American Tobacco It recently announced that it has acquired a nearly 20% stake in Canadian cannabis growers. Organi is also partnering with BAT to research and manufacture products infused with CBD. The company aims to enter the profitable US market.

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This article represents the opinion of a writer who may disagree with the “official” recommendation position of the Motley Fool Premium Services or Advisors. We are Motley! Asking investment treatises, even our own treatises, can help you think critically about your investment and make decisions to be smarter, happier, and richer. As a result, we may publish articles that may not match recommendations, rankings, or other content. ..

Stupid contributor Ambrose O’Callahan There are no positions in any of the listed stocks. Motley Fool owns and recommends a stake in OrganiGram Holdings. Motley Fool recommends Organi Gram Holdings.

US legalization is approaching: Here are the best cannabis stocks to buy US legalization is approaching: Here are the best cannabis stocks to buy

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