July 20, 2021, 10:31 p.m. EDT

Best Marijuana Stocks To Buy In 2021? 4 For Your Watchlist

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"We are excited to welcome Sozo as the newest addition to our premier tenant roster," said Paul Smithers, President and Chief Executive Officer of IIP. "Aaron and his team at Sozo have created a strong operational platform in Michigan, and we expect this strategic transaction to unlock key capital for the Sozo team to significantly enhance their retail presence in the state, along with additional capital for the facility to drive cannabis production capacity." For these reasons, will you consider adding IIPR stock to your portfolio?

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Canopy Growth Corporation

The Canopy Growth Corporation is a cannabis company that is based in Ontario, Canada. The company is a global diversified cannabis and cannabinoid-based consumer product company. The company leverages consumer insights and innovation and it offers a wide variety of products. Namely, this would include high-quality dried flowers, oil, softgel capsules, and infused beverages among others. Canopy also has a global medical brand known as Spectrum Therapeutics.

Last month, the company announced that it had completed the acquisition of The Supreme Cannabis Company. As Canopy continues to focus on the premium flower segment, the addition of Supreme's products and manufacturing capabilities will enhance Canopy's leading market share position and supplement its production capacity.

The company also reported impressive fourth quarter and fiscal year 2021 financial results. Notably, it achieved 37% revenue growth for the fiscal year with strong-double digit growth across both its cannabis and other consumer products businesses. With that in mind, would you watch CGC stock?

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GrowGeneration Corporation

Topping off our list of top marijuana stocks today is the GrowGeneration Corporation. In brief, the company is the largest hydroponics supplier in the U.S. now. How is this relevant to marijuana? Well, for the uninitiated, the company basically sells the equipment needed to cultivate and nurture marijuana plants. As such, this would make GRWG stock a literal and metaphorical pick-and-shovel play on the booming weed industry. For a sense of scale, GrowGeneration currently operates out of over 55 retail and distribution centers nationwide. Given the current scale of the company's operations, would GRWG stock be a wide investment?

If anything, investors appear to be keen on GrowGeneration's current long-term potential. Evidently, the company's shares are now sitting on gains of over 420% in the past year. Despite all of this, GrowGeneration does not seem to be slowing down anytime soon.

Earlier today, the company acquired Aqua Serene, one of Oregon's largest garden centers. Given that Oregon is the fourth-largest legal cannabis market in the U.S., this is a smart play by GrowGeneration. With GrowGeneration strategically expanding its portfolio in the emerging U.S. market, would GRWG stock be a top buy for you?

COMTEX_390153664/2688/2021-07-20T22:30:56

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

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