The cannabis industry has attracted significant investor interest lately due to a series of legislative catalysts. Tilray (NASDAQ:TLRY) and Organigram (OGI) have been the industry’s best performing stocks in the first half of the year. And given the industry’s solid growth prospects and these two names’ strong fundamentals, we think it’s worth adding them to one’s watchlist.Cannabis companies’ prospects have improved significantly this year, owing to the optimism surrounding the likelihood of large-scale cannabis legalization at the federal level and widespread support for it in several states across the nation. Indeed, the global cannabis market is expected to hit $118.9 billion in 2027, growing at a 28.5% CAGR from 2021.
As state-level cannabis legalization has gained significant traction, several multi-state operators have been able to capture these new markets and grow their sales significantly. With many cannabis operators now investing substantially to develop tech-enabled delivery solutions for adult-use cannabis, their markets are expected to continue growing.
Tilray, Inc. (TLRY) and Organigram Holdings Inc. (OGI) have been the best performing cannabis stocks in the first half of the year, capitalizing on industry tailwinds. So, we think it could be worth adding these stocks to one’s watchlist.