Top Marijuana Stocks in 2020 Each of these fast-growing pot stocks delivered a triple-digit return for shareholders.
Despite an exceptionally challenging year in 2020, one industry that found itself ablaze was cannabis. With the industry maturing and offering sustainable double-digit sales growth, investors' appetites for fast-growing marijuana stocks returned in a big way.
After perusing the field of publicly traded pot stocks with at least a $200 million market cap, I've identified eight marijuana stocks that shared one common theme: they all ended the year higher by a triple-digit percentage. Ladies and gentlemen, I give you the top eight marijuana stocks in 2020.
Green Thumb Industries: Up 151%
If you haven't caught onto the theme yet, it was a big year for U.S. MSOs. Green Thumb Industries (OTC:GTBIF) kept that trend alive with a 151% return in 2020. Though Green Thumb's sales growth is turning heads, it's the company's rapidly rising adjusted EBITDA that's really raising eyebrows. Around two-thirds of the company's sales are derived from higher-margin derivatives (edibles, vapes, concentrates, topicals, and infused beverages), which is playing a big role in its push toward recurring profitability.
The states Green Thumb has chosen to pile into are also responsible for its rapid ascent. Green Thumb has acquired its way into the limited-license state of Illinois, tourist-heavy Nevada, and New Jersey. All of these markets offer billion-dollar annual sales potential by 2024.