Posted on: January 13, 2021 Posted by: admin Comments: 0

Tech stocks might be all the rage on Wall Street, but it’s cannabis that could be this decade’s most promising growth story.

According to a recent report from New Frontier Data, legal weed sales in the U.S. could jump more than threefold between 2019 and 2025 to $41.5 billion. Meanwhile, in 2019, New Frontier Data also estimated that Canadian weed sales would more than double to $4.6 billion by 2024. 

North America is going green at a rapid pace, and marijuana stocks will need plenty of their own green (i.e., cash) to take advantage of this growing demand. The following five marijuana stocks entered 2021 with the most cash on their balance sheets, based on their most recent quarterly filing.

A handful of cannabis buds on top of a messy pile of cash.

Image source: Getty Images.

Canopy Growth: $1.37 billion

It probably comes as little surprise that the largest pot stock in the world, Canopy Growth (NASDAQ:CGC), is once again the cannabis cash king.

The bulk of Canopy’s cash came from multiple rounds of equity investments from spirits giant Constellation Brands (NYSE:STZ). Constellation initially invested about $190 million in October 2017 before really sinking its teeth in during the following year with a roughly $4 billion investment. At the moment, it owns a little over 38% of Canopy’s outstanding shares.

While $1.37 billion in cash might sound fantastic, this is actually down by more than $2 billion since