Cannabis Stocks that Have huge potential

Cannabis stocks soared on Wednesday amid new hope for near-term legalization in the US.

President Biden and Democrats have indicated they aim to decriminalize the drug at the federal level.

The Weed Stocks sector offers a unique proposition and the prospect of further growth, as there is still a major catalyst on the horizon that will completely alter the industry. As expected, a Democrat-led senate has been good news for those banking on marijuana reform at the federal level; And it looks like the anticipated changes could happen faster than initially expected.

Pot Stocks of the companies such as Tilray Inc and Aphria Inc, have already skyrocketed in the last few days, however there are still other great pot companies that have strong growth potential:

Village Farms International / Ticker: VFF

Village Farms International has long been involved in the niche agricultural business. The company started out as a farmer, producing high-quality greenhouse and transitioned to the cannabis industry. Village Farms has experience in greenhouse production and industrial-scale growing.

Village Farms’ shares skyrocketed during last year, up 327% in the past 12 months – with a strong spike in recent days.

Village Farms has increased its investment in the Asian cannabinoid company Altum by 50%, to hold a 10% stake in the company. The move increases the international reach of Village Farms, and its ability to increase Altum holdings in the future.

In addition to its strong capital and expansion positions, Village Farms has been reporting solid financial results. The company saw US$43 million in revenue for 3rd quarter of 2020.

TerrAscend Corporation / Ticker: TRSSF

TerrAscend, is another major cannabis producer in both the US, Canada, and Europe. The company is involved in both the medical and recreational sides of the market, and both grows and produces cannabis and markets a range of products through numerous brand names. TerrAscend’s US operations are located in California, Pennsylvania, New Jersey, and Utah, and the company looks to expand as more states legalize cannabis.

TRSSF shares are up a sky-high 624% over the past 12 months. Growth has been fueled by expansion of the cultivation operations in California and Pennsylvania, and by the move into the adult-use recreational market in New Jersey.

TerrAscend’s rapid growth and strong future prospects have attracted attention from top-rated analysts, including 5-star analyst Eric Des Lauriers of Craig-Hallum.

“TerrAscend is a leading multi-state operator (MSO) in the US cannabis market with top-tier management, assets, and access to deal flow. We have been bullish on the company since initiating coverage last year and are happy to say the TRSSF team has exceeded our expectations, generating rapid increases in margins and operating leverage that have earned them a place solidly in the Top Tier of MSOs,” Des Lauriers noted.

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