Best US-Based Cannabis Stocks to Watch in 2023

The cannabis industry has seen remarkable growth over the past decade, and it's no surprise that investors are eager to get a piece of the action. With the US cannabis market expected to reach $100 billion by 2028, according to Grand View Research, it's crucial to identify the best US-based cannabis stocks to invest in. This article will highlight some of the top cannabis stocks you should consider adding to your portfolio in 2023.

1. Canopy Growth Corporation (TSX: WEED, NYSE: CGC)

Canopy Growth, one of the largest cannabis companies in the world, has a strong reputation for its high-quality products and innovative approach to the industry. The company's partnership with Constellation Brands, a leading beverage company, has further solidified its position in the market. With a diversified product portfolio and a commitment to sustainability, Canopy Growth is a top pick for investors.

2. Tilray, Inc. (NASDAQ: TLRY)

Tilray is another prominent player in the cannabis industry, known for its global reach and commitment to research and development. The company has partnerships with several international brands and operates in 18 countries. Tilray's focus on medical cannabis and its expansion into new markets make it an attractive investment opportunity.

3. Curaleaf Holdings, Inc. (OTCQX: CURLF)

Curaleaf is the largest cannabis company in the US by market cap, offering a wide range of products and services. The company has a strong presence in 23 states and is known for its focus on consumer experience and product innovation. Curaleaf's recent acquisition of Grassroots Cannabis has further expanded its footprint in the market, making it a compelling investment choice.

4. Acreage Holdings, Inc. (OTCQX: ACGRF)

Acreage Holdings is a vertically integrated cannabis company with a focus on acquiring and operating high-quality cannabis businesses. The company has a robust pipeline of growth opportunities and a strong balance sheet, which makes it an attractive investment for those looking for long-term growth potential.

5. Green Thumb Industries, Inc. (NASDAQ: GTBIF)

Green Thumb Industries is a leading cannabis company with a focus on the medical and recreational markets. The company has a strong presence in 11 states and is known for its commitment to brand building and customer satisfaction. With a diverse product portfolio and a focus on innovation, Green Thumb Industries is a top pick for investors looking for a well-rounded cannabis stock.

Case Study: Curaleaf and the Acquisition of Grassroots Cannabis

Curaleaf's acquisition of Grassroots Cannabis in 2022 is a prime example of a strategic move in the cannabis industry. The acquisition allowed Curaleaf to enter new markets and expand its product offerings, solidifying its position as a market leader. This move also demonstrates the importance of diversification and strategic partnerships in the cannabis industry.

In conclusion, investing in the cannabis industry requires careful research and analysis. By considering the top US-based cannabis stocks, investors can gain exposure to a rapidly growing market with significant potential for long-term growth. As the industry continues to evolve, it's crucial to stay informed and stay ahead of the curve.

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