Marijuana stocks had a difficult year in 2022, with the broader market taking a hit and cannabis stocks taking an even bigger hit due to a lack of investment and regulatory uncertainty. But with the new year, comes new optimism as investors are beginning to look at marijuana stocks with fresh eyes and looking for the best opportunities to take advantage of the industry’s potential.
In this article, we will discuss the 14 Best Marijuana Stocks To Buy Now. You can skip our detailed industry analysis and go directly to the 5 Best Cannabis Stocks To Buy Now at the bottom of this article.
The marijuana industry had a challenging year in 2022, with the broader market falling and cannabis stocks taking a bigger hit due to the lack of investor confidence and regulatory uncertainty. But now, investors are beginning to look at marijuana stocks with fresh eyes and searching for the best opportunities to take advantage of the industry’s potential.
Tilray Brands is one of the leading cannabis companies. They are more than just a cannabis play, however, as they are also growing their beer and spirits business. With the company’s diverse portfolio, now is an attractive opportunity to buy Tilray stock, as they are well-positioned to benefit from the growth of the cannabis industry in the coming years.
The latest update from an industry darling could signal big financial challenges for marijuana companies. The stock market hasn't performed as well as expected in 2022 and investors have been weary of investing in the cannabis industry due to the lack of regulatory clarity. However, there are still some marijuana stocks that are worth considering for the new year.
Innovative Industrial Properties (NYSE: IIPR) is one of the top marijuana stocks to watch in 2023. The company has made a name for itself in the industry by investing in cannabis-related real estate projects. With regulatory clarity on the horizon, IIPR has seen their stock price rise significantly in the last few months and could be a great investment opportunity for those looking to get into the cannabis industry.
OTC Markets Group Inc. (OTC: GTBIF) is another cannabis stock to consider for 2023. The company has seen its stock price rise significantly over the past year and could be a great investment opportunity for those looking to capitalize on the growth of the cannabis industry. With their diverse portfolio of cannabis-related businesses, GTBIF could be a great long-term investment for those looking to benefit from the industry’s growth.
Pablo Zuanic, an analyst at Cantor Fitzgerald, recently released his January 2023 outlook piece on the weed industry. In it, he outlined his bullish outlook for the cannabis industry, noting that he expects the industry to grow significantly over the next few years. He expects the industry to reach $30 billion in sales by 2023 and believes that marijuana stocks will have investors seeing green in the new year.
The headwinds facing these three cannabis stocks are likely to make them buzzkills in the new year. Cannabis stocks fell by some 70% in 2022, compared with the S&P 500’s roughly 15% decline. With the industry facing significant regulatory challenges and competition from well-established companies, marijuana stocks could take a hit in the new year.
However, the outlook for marijuana stocks in 2023 is still bright. With the industry expected to grow significantly over the next few years, now is an attractive time for investors to get into the cannabis industry. With the right investments, investors could see their portfolios grow significantly in the coming years.
In conclusion, marijuana stocks had a difficult year in 2022 due to the lack of investor confidence and regulatory uncertainty. But with the new year comes new optimism as investors are beginning to look at marijuana stocks with fresh eyes and searching for the best opportunities to take advantage of the industry’s potential. Investors should consider investing in companies like Tilray Brands, Innovative Industrial Properties, and OTC Markets Group Inc. to benefit from the growth of the cannabis industry in the new year.
