The three most important states for investors to watch are Arizona, Florida, and New Jersey, each of which could be on course to legalize recreational marijuana next year. Two marijuana stocks that appear to be in especially good shape to profit should these states legalize recreational pot are Cresco Labs (OTC:CRLBF) and Trulieve Cannabis (OTC:TCNNF).
Cresco ranks as one of the largest cannabis operators in the U.S. It already operates medical cannabis stores in Arizona and has a binding transaction pending in Florida. Cresco is close to completing its acquisition of Origin House, the largest cannabis distributor in California that also markets several of its own recreational cannabis brands. Should Arizona and Florida legalize recreational pot, Cresco would almost certainly expand its operations significantly in both states.
Trulieve Cannabis is currently the 800-pound gorilla in the Florida medical cannabis market. The company plans to increase its medical cannabis stores in the state to 44 by the end of this year. Medical cannabis alone presents a solid growth opportunity for Trulieve. Unsurprisingly, though, the company has contributed to efforts to put a constitutional amendment on Florida’s 2020 ballot to legalize recreational pot. If the state’s citizens have the opportunity to vote on the issue, Trulieve’s potential market could increase dramatically in the not-too-distant future.
Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction