Top cannabis stocks in June include SNDL In🎐c., TerrAscend Corp., and Curaleaf Holdings I꧅nc., which together lead the industry in revenue growth.

Cannabis Stocks, represented by the ETFMG Alternative Harvest ETF (MJ), have declined by 53% over the past 12 months, compared with💙 a 6% rise in the Russell 1000 Index.

Here are the top cannabis stocks in three categories: best value, fastest growth, and best performanc🌳e. All🐎 data are as of June 8.

Best Value Cannabis Stocks

Here are the cannabis stocks with the lowest 12-month trailing 澳洲幸运5官方开奖结果体彩网:price-to-sales (P/S) ratio, a rough measure of companies in the early stages of development that could eventually produce more profit when they achieve (or return to) profit. Th💙e ratio shows how much you're paying for the stock for each 🌠dollar of sales generated.

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• SNDL Inc.: SNDL is one of Canada's largest private-sector liquor and cannabis retailers. It also cultivates and processes cannabis for sale under the Sundial, Top Leaf, Palmetto, and Grasslands brands, among others. SNDL's net revenue grew more than 1,000% year-over-year in the first quarter due to its acquisition of the Alcanna, Valens, and Zenabis brands in 2022. Net loss for the quarter shrank 5% compared with the previous year. On June 6, SNDL appointed Alberto Paredero-Quiros as CFO, effective July 1, following the retirement of the current CFO, Jim Keough.
• Cresco Labs Inc.: Cresco Labs grows, processes, and distributes cannabis products. It operates in 10 states and sells products under the brand names Cresco, Remedi, High Supply, Wonder Wellness Co., Mindy's, Good News, Sunnyside, and FloraCal Farms.
• Trulieve Cannabis Corp.: Trulieve is a vertically integrated cannabis company with operations in several parts of the U.S. Its brands include Cultivar Collection, Muse, Roll One, Sweet Talk, and Momenta.
• Canopy Growth Corp.: Canopy is a Canadian medical cannabis producer whose brands include Tweed, DOJA, Deep Space, and Ace Valley.
• Curaleaf Holdings Inc.: Curaleaf produces cannabis products for retail and wholesale distribution and provides similar professional services. Curaleaf reported first-quarter earnings in May. Revenue grew 14% year-over-year while the company's net loss expanded by 48% as a result of reduced gross margin rates. Curaleaf also recently launched an iOS mobile app and loyalty program with a reported 1.9 million members.

Fastest-Growing Cannabis Stocks

These are the cannabis stocks with the highest year-on-year (YOY) sales growth for the most recent quarter. Rising sales can help investors identify companies that are able to increase revenue organically or through other means and find growing companies that haven't yet reached profitability. In addition, accounting factors that may not reflect the overall strength of the business can significantly influence 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS). However, sales g๊rowth alone doesn't guarantee a s꧟trong business because a company must also control costs.

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• SNDL Inc.: See company description above.
• TerrAscend Corp.: TerrAscend is a vertically integrated cannabis company that operates in the U.S. and Canada, with brands including The Apothecarium, Ilera Healthcare, and Kind Tree. On May 23, TerrAscend announced the sale of a facility in Mississauga, Canada, for CA$19.7 million, with which the company plans to pay off debt. On June 7, the company agreed to acquire Peninsula Alternative Health, a medical dispensary located in Maryland, for approximately $22 million.
  
• Curaleaf Holdings Inc.: See company description above.
• Verano Holdings Corp.: Verano is a multistate retail distributor of cannabis-related products under the Encore, Avexia, and MUV brands.
• Green Thumb Industries Inc.: Green Thumb Industries manufactures, processes, and distributes cannabis products such as concentrates, vapes, pre-rolls, edibles, and topicals. The company also owns retail locations throughout the U.S. Its retail segment and adult-use legalization in added markets helped to drive slight revenue growth in the first quarter of 2023.

Cannabis Stocks With the Best Performance

These are the cannabis stocks that had the smallest declines in total re🐬turn over the past 12 months among the companies we ex𝓀amined.

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• Green Thumb Industries Inc.: See company description above.
• Cronos Group Inc.: Cronos is a Canadian cannabis company that sells brands including Spinach, Lord Jones, and PEACE+. Cronos reported first-quarter earnings on May 9. The company's net loss shrank by 41% compared to the previous year. Total revenue declined 7% due to lower cannabis flower sales, which was partially offset by increased cannabis extract sales.
• Curaleaf Holdings Inc.: See company description above.
• Cresco Labs Inc.: See company description above.
• TerrAscend Corp.: See company description above.

Trends to Watch in Cannabis Stocks

Marijuana stocks have given inve൲stors a wild ride over the past few years, staging both big rallies and substantial declines. Those who invest in them should monitor these key trends, as they will likely guide price direction in the months and years ahead.

Financing: Most U.S. 澳洲幸运5官方开奖结果体彩网:financial institutions avoid funding cannabis companies, as marijuana is still federally illegal, meaning lenders that provide loans could face possible prosecution. However, the 澳洲幸运5官方开奖结果体彩网:Secure and Fair Enforcement Banking Act (SA🍃F﷽E)—which passed in the U.S. House of Representatives in 2021—aimed to address this by preventing the federal government from penalizing banks that offer financial services to🔥 the cannab🙈is industry. Although the legislation failed to gain support in the Senate, investors should monitor any future legislation that may have a similar bent.

Merger & acquisition: 澳洲幸运5官方开奖结果体彩网:Merger & acquisition (M&A) transactions in the U.S. cannabis industry hit a record $10.3 billion in 2021 before dropping off to about $3 billion in 2022, reflecting the year's suboptimal market conditions. Increased dealmaking in 2023 could indicate that institutional investors have growing confidence in the cannabis industry's future.

Potential U.S. legalization: While several cannabis 澳洲幸运5官方开奖结果体彩网:legalization bills are floating around the halls of Congreꦫss, bipartisan support remains difficult to achieve, creating a large amount of uncertainty for industry participants.

Advantages of Cannabis Stocks

Despite the underwhelming performance of marijuana stocks over the past year, the sector offers risk-taking investors significant growth potential. According to industry analysis firm MJBizDaily, U.S. cannabis sales are projected to surpass $33 billion in 2023 before reaching almost $57 billion by the end of 2028. Moreover, the global cannabis market is expected to reach nearly $200 billion by 2028, up from $28 billion in 2021.

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As of the date this article was written, the author does not own any of the above stocks.