2 Pot Stocks That Could Soar in August
The cannabis industry is doing well during the pandemic, with sales looking strong in multiple U.S. states. Oregon cracked $100 million in monthly marijuana revenue for the first time in May, a 60% improvement from the same period a year ago. Illinois also had a record-breaking month in June, with revenue of more than $47 million, even better than the previous record of $44 million set in May. Although recreational pot sales only began there in January, Illinois is already proving to be a hot market for cannabis.
These are only a couple of examples of how well the industry's doing thus far; other states are also showing impressive growth. And for cannabis investors, that means U.S.-based pot stocks could be about to turn in some impressive results. That makes these two industry giants potentially very hot buys in August when they go to report their earnings.
Green Thumb Industries (OTC: GTBIF) will release its quarterly results Aug. 12. The Illinois-based company is likely to benefit from not just the terrific growth in its home state, but also from strong cannabis sales across the country. With 48 retail locations spanning several states and licenses for 96 stores in total, Green Thumb is one of the larger marijuana companies in the country.
Source Fool.com
