Looking to round out your portfolio with cool stock options? Consider these currently undervalued cannabis stocks. Cannabis stocks give investors the chance to invest in something disruptive and revolutionary. And though it’s now fully legal in 24 U.
S. states, cannabis is still restricted at the federal level. The Justice Department moved to reclassify cannabis as a less dangerous drug this year.
That might sound like a small decision, but it is, in fact, historic, given the pushback efforts to legalize cannabis have encountered over the decades. Though significant, that step still doesn’t come close to having marijuana federally approved. But it moves the needle big-time for cannabis lovers and businesses.
Also, it injects fresh energy into the conversation on decriminalizing marijuana, which bodes well for companies and investors in the niche. Here are the three most undervalued cannabis stocks to buy this July. Green Thumb Industries (GTBIF) Green Thumb Industries (OTCMKTS: GTBIF ) shares have been trading sideways the whole of 2024, but that shouldn’t so nearly dampen investor sentiment.
From glowing analyst ratings (14 Buy against one Overweight recommendation) to strong financials for the last quarter, Green Thumb Industries’ short-term and long-term prospects look ultra promising, and it’s one the most undervalued cannabis stocks at the moment. The Chicago-headquartered firm posted revenues of $276 million for its last quarter, an 11.0% increase from the prev.
