American pot stocks such as Jushi Holdings (OTC:JUSHF) and Trulieve Cannabis (OTC:TCNNF) have been wildly popular since the 2020 elections. Earlier this November, five states voted to legalize recreational or medical cannabis, showing that the green wave is still strong across the U.S. At this rate, the American marijuana market is expected to win almost $23 billion in sales per year by 2023, while growing at a compound annual growth rate (CAGR) of 21%, according to New Frontier Data.
When it comes to profiting from a vastly underdeveloped and unrealized pot market, investing in fast-growing companies with strong footholds in certain states has become an increasingly popular strategy. Today, let’s look at which stock is the closest thing to a sure bet.
The case for Jushi Holdings
Jushi Holdings is one of the nation’s fastest-growing chains of recreational and medical dispensaries. Based on preliminary Q3 2020 data for the period ending Sept. 30, Jushi Holdings now operates 11 stores across six states with plans to open 19 more in the near future. The company holds one of the largest market shares in Pennsylvania, where almost half its revenue comes from.
For the entirety of 2020, the company expects to generate $75 million in revenue. Next year, however, Jushi Holdings projects it will bring in up to $255 million in sales and achieve positive cash