Could Dogecoin stage the greatest retaliation of all time? Well, things are unpredictable in this space. As much as the popular digital coin indicates an uptrend momentum, further gains could vanish within no time.
However, if you think investors will push DOGE’s price higher, you can invest in the meme coin. Alternatively, you can purchase stocks of firms in an emerging industry with enormous expansion growth. Where can you find such a lucrative industry? Well, you may have to turn to the U.S cannabis sector. In that context, here are the two marijuana stocks that better purchase than Dogecoin at the moment.
- Ayr Wellness
It’s undeniable that Ayr Wellness is among the fast-growing multistate marijuana operators in the United States. In its Q1 2021, the firm reported 74% growth in its year-on-year revenue. Unlike most operators (in Canada), Ayr generates positive returns before taxes, interests, amortization, and depreciation.
The aggressive acquisition approach is among the factors behind Ayr Wellness’s colossal expansion. In February, the firm acquired Liberty Health Sciences. The move magnified the company’s visibility in Florida’s medical marijuana market. At the Q1 ending, Ayr Wellness had completed Ohio and Arizona acquisition. It aims to execute the New Jersey deal this summer, enabling the firm to expand to its 7th state.
The company aims at $725 in revenue by next year.
- Cresco Labs
Cresco Labs is another multistate marijuana operator that has expanded extremely with the acquisition. Keep in mind that the firm sprung instantly after Origin House buyout last year, making it the best in California.
In April, Cresco Labs acquired Bluma Wellness. The buy gave the firm 8 medical marijuana dispensaries located in Florida: one for the state’s cannabis flower cultivation facility and 7 dispensaries in permitting or under construction.
At the moment, Cresco operates in ten states. The firm would have a strong growth forecast in New York, as the state legalized recreational cannabis.
By 2021 end, Cresco’s annual revenue could top 41 billion.
However, keep in mind that any investment that guarantees returns is not without jeopardies. The only risk in the hemp sector is increased competition if the federal reforms allow marijuana operators access to traditional financial services.
You can try these cannabis stocks as you wait to see what Dogecoin has in the coming days.