Today’s Best Buy-and-Hold Cannabis Stocks

Public perception of marijuana has never been higher, with nearly two-thirds of Americans saying that marijuana should be legal for medical as well as recreational use. 

Now that more states are legalizing marijuana, the cannabis industry could experience rapid changes in the foreseeable future. For those considering an investment in cannabis stock, this could be a good time to jump on board. 

But which companies will offer the best long-term investment? In this article, we’ll highlight the three best cannabis stocks to buy and hold.

1. Green Thumb Industries

Green Thumb Industries (GTBIF) is poised to thrive with the increased legalization of recreational marijuana. 

Currently, the company boasts of a vast distribution network spread across the United States. When more states offer licensure for recreational marijuana distributors, companies like Green Thumb are slated to soar. 

Ben Klover, the company’s founder and CEO, says that this is “a long game,” and that the company is committed to future development. 

One of these developments may be the advent of cannabis home delivery services, which would only add to the company’s already-considerable revenue stream. 

The company’s current share price is over $30 and climbing, and while competition may increase, Green Thumb’s current infrastructure will give them a considerable edge.

2. Scotts Miracle Gro

Scotts Miracle Gro (SMG) stands out not for being a marijuana producer, per se, but for providing the fertilizer, grow lights, and other indispensable products needed for growing marijuana. 

Miracle Gro is already a household name among gardeners and horticulturalists, but the rising tide of marijuana producers is sure to increase demand for these types of supplies.

Current share prices top $150, but as more regional markets open for marijuana, Miracle Gro could expect to see themselves as an indispensable—albeit indirect—part of the industry. 

Cannabis investors should strongly consider this stock for their portfolios, especially if they rely on a long-term strategy.

3. 22nd Century Group

22nd Century Group (XXII) specializes in hemp genetics. This means that marijuana producers can use genetics to increase the yield of particular chemicals from their cannabis crops. 

In other words, with more of the active psychoactive ingredient found in each plant, cannabis growers can increase their efficiency. These developments are the tip of a larger iceberg, as increasing development is expected to only increase efficiency over time.

While 22nd Century Group currently languishes in relative obscurity (they’re currently trading at just over $3 per share), the future of cannabis production will be one of competition, which will incentivize growers to look for these sorts of innovative solutions.

This could be an opportunity for cannabis investors to get in on the ground floor, as these share prices are likely to increase as nationwide demand trends upward.