In these recent few years, the legalization and decriminalization of cannabis has paved the way for cannabis stocks to become truly lucrative choices for people who are looking to invest in the stock market to potentially make significant profits. There was a time when buying cannabis stocks would have been considered an incredibly risky and borderline irresponsible decision as there was a stigma associated with cannabis that painted it in a somewhat negative light. However, this isn’t the case any longer because, as mentioned earlier, the legalization and decriminalization of cannabis has led to the rise of many worthwhile cannabis stocks that are absolutely worth looking into if you’re looking to make a solid investment.

It’s worth highlighting the fact that, while there weren’t as many cannabis stock options before, there are actually multitudes of potentially profitable cannabis stocks on the market today so it’s certainly become a bit of a challenge to sift through the several available options in order to find those that truly stand out and will give you a reward that’ll be well worth your risk. We, however, have done the research an have picked out the seven best cannabis stocks that you can buy right now.

The following cannabis stocks are certainly among the best ones to buy right now:

1: Truelieve Cannabis (OTC: TCNNF)

Truelieve has to be one of the most lucrative and attractive cannabis stock choices on the market currently and this is due to an array of different reasons. First and foremost, is the fact that this particular stock has primarily consistent growth over the course of this year and there really isn’t any indication of this shifting any time soon. The numbers of Truelieve Cannabis speak for themselves as Truelieve generated over $200 million in sales over the first six months of 2020 with a profit that’s upwards of $150 million so all the signs point to this stock showing nothing but growth over time.

Another key highlight of Truelieve Cannabis is the fact that this company has put a great deal of emphasis on capturing the market in Florida and it has certainly succeeded in doing so. With over 60 different retail stores across the entirety of the state, Truelieve has excelled at dominating the medical marijuana market in Florida and this is likely to continue moving forward as the company capitalizes on its strong position to further strengthen its stronghold within the state.

2: Cresco Labs (OTC: CRLBF)

Cresco Labs is a company that manufactures and sells both medical and recreational cannabis under an array of different brand names and, while the Coronavirus issue certainly hindered quite a few companies this year, it wasn’t particularly brutal for Cresco Labs as the company’s vertical integration enabled it to maintain its supply chain during the Coronavirus whereas quite a few companies that didn’t have vertical integration ended up struggling a fair bit.

Due to the aforementioned factors, the quarterly revenue for Cresco Labs is up quite a bit and yet another thing that’s helped Cresco succeed is the fact that it’s been quite adept at spotting and focusing on key markets within the US. Cresco has a strong presence in Illinois which has certainly aided their growth since marijuana was officially legalized in Illinois on the first of January and sales have been rising rapidly ever since. Overall, this stock is definitely one to watch for.

3: GrowGeneration (NASDAQ: GRWG)

Although GrowGeneration might not be as big of a player as the aforementioned Truelieve Cannabis, it’s still absolutely a stock that’s worth looking into. One of the biggest indicators of this stock’s quality is the fact that GrowGeneration this year has reported insanely high revenues with their Q2 revenues being up over 100% from last year with their overall earnings demonstrating similar numbers as well.

As mentioned earlier, though, GrowGeneration isn’t a big player as it currently operates just slightly under 30 stores but there are plans to expand to over 15 different states over the course of next year so there’s certainly massive room for growth. Keeping all this in mind, GrowGeneraiton is a stock that you should have on your radar if you’re on the hunt for a cannabis stock that has huge potential to be profitable in the long run.

4: Curaleaf (CNSX: CURA)

Curaleaf is a company that operates across a variety of states and has spread its presence across over 20 different states as of recently with plans to expand even further with time. What makes Curaleaf such a worthwhile stock option is the fact that it’s incredible growth is backed up by solid numbers and, alongside this, the company’s goals of expanding further likely aren’t going to stop any time soon as more and more states will be legalizing cannabis with time and this will give Curaleaf the opportunity to grow even more.

Even if you set the rapid expansion aside, though, Curaleaf’s numbers speak for themselves. The company reported over a hundred million dollars in sales in the second quarter of this year and this is a staggering jump over last year’s sales numbers. Curaleaf has acquired Grassroots as well which is only going to propel the growth of the company even further so, all things considered, this is absolutely a stock that you need to look out for.

5: Planet 13 Holdings (CNSX: PLTH)

Planet 13 Holdings is a vertically integrated company that manufactures and sells cannabis products through its subsidiaries and, as of right now, it’s certainly looking like a worthwhile investment. 2020 has been a stellar year for this company as a whole as they’ve reported massive revenue increases in both the second and third quarters of this year.

Planet 13 Holdings has reported an astonishing $22.8 million as its Q3 2020 revenue which is a huge 110% jump over the company’s Q2 2020 revenue. This particular milestone has also marked the highest ever revenue earned per quarter throughout the entirety of the company’s history and has demonstrated just why this particular stock is worth looking out for. 2020 hasn’t been a pleasant year for quite a few companies but, thanks to its vertical integration, Planet 13 Holdings has managed to hold strong over the course of the year and all signs indicate that this will be the case moving forward as well thereby making this a stock that you simply must consider.

6: Scotts Miracle-Gro (NYSE: SMG)

Scotts Miracle-Gro is hands down one of the safest cannabis-based investment opportunities available today and the thing that sets it apart is the fact that this company isn’t actually a pot producer itself but, instead, focuses on producing and selling gardening and hydroponics equipment which is widely being utilized for the growth and cultivation of cannabis. Due to this, even though the company might not be manufacturing its own cannabis products, it still benefits tremendously from the increase in cannabis demand and the side-benefit of all this is the fact that the legal risks that are usually associated with producing and selling cannabis products aren’t a factor here thereby making this a relatively safer investment.

Scotts Miracle-Gro has certainly had an incredible year so far as their Q3 2020 performance was so stellar that the company’s board of directors approved a special 5$ per share dividend while simultaneously increasing its usual quarterly dividend by 7%. Company wide sales for this period have been up 28% touching $1.49 billion which is an absolutely enormous number and, all things considered, there’s no doubting the fact that there’s room for growth yet thereby making this a solid stock option to investment.

7: Aphria (NASDAQ: APHA)

Aphria is renowned as one of Canada’s biggest cannabis companies and it has historically been a solid choice for those looking to invest in cannabis stock and, up until now, this is something that hasn’t changed. What makes Aphria such a worthwhile investment is the fact that it has consistently reported an upward trend in its EBITDA and this has been the case for the entirety of the past five quarters.

As per Aphria’s Q4 2020 numbers, revenue has risen 18% to reach just over $152 million CAD and this demonstrates the company’s consistency as well as the potential of this stock. With all this in mind, it’s safe to say that Aphria is absolutely an option that needs to be on your radar if you’re on the lookout for a cannabis-based stock investment that’s almost certain to give results.

Overall, the aforementioned options are certainly among the best cannabis stocks that you can currently buy. Each of these stocks demonstrates a great deal of potential and serious investors should definitely have them on their radar.

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