Cannabis stocks are being held back by the U.S.’s struggle to decriminalize weed, but the impending weed stock boom is coming. With key government officials actively pushing for legalization more than ever, it’s a matter of when, not if.
Back in September of last year, we told subscribers to our exclusive research advisory, The Daily 10X Stock Report, about a small hydroponics retailer called GrowGeneration (NASDAQ:GRWG). We said it would turn into the “Home Depot” of pot.
And we were right.
Since making that recommendation, GRWG stock has soared more than 300%.
Basically, we saw this boom coming before everybody else. Before GRWG’s giant success, we shared this pick — along with several other 200%-plus gainers — with our subscribers. In fact, among the stock picks we’ve shared this last year, nearly 100 have been triple digit winners and six have been 10X winners.
To read more about the newsletter, click here, but for now let’s get back to talking cannabis stocks.
GRWG Stock: One of the Best Cannabis Stocks
If you think you missed out on GRWG stock, rest assured, because you haven’t. Now is actually a great time to buy.
Well, as the U.S. continues to fail to pass legislation to federally decriminalize weed, pot stocks continue to tumble, GRWG stock included.
But this is great news for investors looking to invest in cannabis stocks. In the future, the weed industry will be massive, and all these companies experiencing minor setbacks at the moment will be insanely profitable someday.
On top of that, GrowGeneration doesn’t even need weed to be decriminalized at a federal level in order to succeed. The reality is that weed is already legal in most places where it needs to be legal — where the demand for weed is the most concentrated.
This means U.S. markets like California and Colorado. In those markets, GrowGeneration is finding tons of success in acquiring established hydroponics shops, integrating them into their ecosystem and developing a robust omni-channel brand that growers see as the “Home Depot” of pot.
And to that extent, recent weakness in GRWG stock, and cannabis stocks in general, is unnecessarily short-sighted and presents investors with a great buying opportunity.
This stock will continue to rebound this earnings season on great numbers. This will prove to the market that GrowGeneration does not require federal decriminalization in order to be insanely successful, and GRWG stock will resume its journey upwards.
Many of the stocks I cover in my premium newsletter advisory service, Innovation Investor, are as exciting or more exciting than GRWG stock.
In fact, my model portfolio contains 50 hypergrowth stocks, each of which corresponds to a specific emerging megatrend that could score investors Amazon-like returns over the next months and years.
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
By uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends. It’s the theme of his premiere technology-focused service, Innovation Investor. To see Luke’s entire lineup of innovative cutting-edge stocks, become a subscriber of Innovation Investor today.