With marijuana decriminalization or federal legalization looking slightly more likely under the Biden administration, investors have been piling into pot stocks to take advantage of the green Wild West. Such strong demand has bid up the prices of many reputable companies, however, making them prohibitively expensive. It’s becoming harder and harder to find sector players that are growing without having to pay too much of a premium for them.
Some of the best choices right now are Harvest Health & Recreation (OTC: HRVSF), Ayr Wellness (OTC: AYRWF), and 22nd Century Group (NYSEMKT: XXII). These three stocks have all returned between 192% and 367% over the past 12 months. Let’s look at why they could become winners for your portfolio in the future.