The Best cannabis stocks of 2023

Since the early burst of sales during the pandemic, the cannabis industry in the U.S. has seen a slowdown. This has led to an oversupply, resulting in a reduction in prices. Official retailers have also had to deal with competition from unlicensed sellers while trying to navigate a complex network of laws governing cannabis use across the nation.

Let’s dive deeper into the top-performing cannabis stocks, considering three important factors: value, growth rate, and overall performance. The reference performance data is accurate up to May 9, while all subsequent data is up-to-date as of May 7, 2023.

 Cannabis Stock with the lowest price-to-sales ratio

Here, we’ve listed the cannabis stocks that have the lowest 12-month trailing price-to-sales (P/S) ratio. This ratio is a fundamental measure for companies in their infancy, hinting at potential profitability once they start making or return to profit. It essentially demonstrates the cost per dollar of sales the company generates.

Top Cannabis Stocks by Value

Price ($) Market Capitalization ($M) 12-Month Trailing P/S Ratio

Cresco Labs Inc. (CRLBF) 1.68 506.1 0.6

SNDL Inc. (SNDL) 1.73 450.0 0.7

Trulieve Cannabis Corp. (TCNNF) 5.78 1,064.6 0.9

Curaleaf Holdings Inc. (CURLF) 2.80 2,012.3 1.5

Canopy Growth Corp. (CGC) 1.34 698.1 1.7

Source: YCharts

Cresco Labs Inc.: Operating in ten states, Cresco Labs cultivates, manufactures, and distributes a variety of cannabis products. Its portfolio comprises brands like Cresco, Remedi, High Supply, Wonder Wellness Co., Mindy’s, Good News, Sunnyside, and FloraCal Farms. Mirroring the larger trend within the cannabis industry, Cresco’s shares have dropped more than 58% over the past year.

SNDL Inc.: Besides growing, processing, and retailing cannabis, SNDL also sells alcoholic beverages. Their brand lineup includes Sundial, Top Leaf, Palmetto, and Grasslands. SNDL’s revenue enjoyed a boost in the recent quarter as the company incorporated liquor retail revenue from its acquisition of Alcanna in March 2022.

Trulieve Cannabis Corp.: Trulieve, a vertically integrated cannabis business, operates across several U.S. regions. Its brands include Cultivar Collection, Muse, Roll One, Sweet Talk, and Momenta. Trulieve’s stock value has plunged more than 60% in the past year.

Curaleaf Holdings: This company develops cannabis products for retail and wholesale distribution and offers professional services in the same field. Curaleaf reported a 14% increase in revenue for the final quarter of 2022, credited to the opening of eight new retail dispensaries.

Canopy Growth Corp.: Canopy, a Canadian medical cannabis producer, is home to brands like Tweed, DOJA, Deep Space, and Ace Valley. Reflecting the broader industry downturn, Canopy’s value has tumbled by more than 75% over the last year.

Source: https://www.investopedia.com/top-cannabis-stocks-7495551