Top Stocks Poised to Benefit from Cannabis Rescheduling
The Drug Enforcement Administration is considering moving marijuana from a Schedule I substance to Schedule III, acknowledging its potential medicinal benefits. This change could have significant implications for U.S.-based cannabis companies, particularly in terms of tax deductions. Three companies that stand to gain the most from cannabis rescheduling are Curaleaf Holdings, Green Thumb Industries, and Trulieve Cannabis.
Curaleaf Holdings
Curaleaf is a leading multi-state operator with a substantial presence in the U.S. market and international expansion efforts. Despite incurring losses, Curaleaf consistently posts adjusted EBITDA profits and stands to benefit from lower tax liabilities. Rescheduling cannabis could improve its financial performance and stock valuation.
Green Thumb Industries
Green Thumb Industries has a profitable track record and a focus on branded cannabis products. The company’s strong financials and positive stock performance make it an attractive investment option. Rescheduling cannabis would further enhance its profitability and market position.
Trulieve Cannabis
Trulieve is set to open its 200th dispensary, solidifying its position as a major player in the cannabis retail sector. The company stands to gain significantly from tax relief and improved profitability. Despite past losses, Trulieve’s prospects could improve with cannabis rescheduling and a more favorable industry outlook.
Investors considering Curaleaf, Green Thumb Industries, or Trulieve should weigh the potential benefits of cannabis rescheduling and the companies’ growth prospects in the evolving cannabis market landscape.
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