The Cannabis industry has a lot of investment opportunities, but which ones are the best? Investors can find out the answer to that question by reading our Top 3 Stocks to Play the Illinois Cannabis Market.
Since Illinois legalized medical cannabis, stock traders have been on the lookout for early movers in the Illinois cannabis market. There are three such stocks that are gaining support from investors, and may be worth paying attention to: GW Pharmaceuticals (NASDAQ: GWPH), Green Thumb Industries (CSE: GTII), and Cresco Labs (CSE: CSL).
The burgeoning cannabis industry in Illinois continues to exceed even the most optimistic predictions. The latest sales figures for the month of March have again exceeded expectations and reached a new historic high. Here are some details of the marijuana moment. In March, monthly marijuana sales in Illinois reached the $100 million mark for the first time, breaking the previous record. Adults spent $109,149,355 on recreational cannabis products in March, according to the state Department of Financial and Occupational Regulation. This is nearly $30 million more than the previous month and $20 million more than the last record, set in January. If this trend continues, adult-use marijuana sales in Illinois could exceed $1 billion by 2021. This will result in a significant increase in tax revenue for the State. Last year, Illinois sold about $670 million worth of cannabis and collected $205.4 million in tax revenue. In the long term, the growth rate is expected to accelerate. Illinois is in the process of issuing 75 new cannabis licenses. This influx will allow us to bring more products to market in underserved areas over the next six months. Here are some details from the Chicago Tribune. Illinois lawmakers plan to introduce 75 new licenses for cannabis shops to give low-income and minority people another chance to enter the multi-billion-dollar industry after being shut out by the current system. The proposed legislation would double the number of new retail licenses established last year but not yet issued to recreational businesses, and would attempt to eliminate problems associated with reviewing license applications. These problems have led to a number of court cases challenging the findings and delaying the issuance of the permits, which should have taken place last July. These results show that Illinois has become one of the largest and fastest growing cannabis markets in the United States – an opportunity that cannabis investors should keep a close eye on.
3 stocks that will benefit from growth in Illinois
#1 – Cresco Labs (CSE: CL, OTC: CRLBF) Cresco is headquartered in Chicago, Illinois, and has a market value of $2.7 billion. It is one of the key players in the rapidly growing US cannabis industry. Cresco has 10 dispensaries in Illinois and is the largest cannabis wholesaler in the state. Cresco stocks have risen sharply over the past year and are currently consolidating just below their all-time high. 
#2 – Green Thumb Industries (CSE: GTII, OTC: GTBIF) Green Thumb is also headquartered in Chicago, Illinois, and has a market value of $6 billion. Green Thumb is also an early leader in Illinois, where it operates seven dispensaries and leases one of the largest grow facilities in the state. Green Thumb shares have also risen sharply in the past year, but are now down about 25% from their 52-week high. 
#3 – Verano Holdings (CSE: VRNO, OTC: VRNOF) Verano has a market capitalization of $2.3 billion and is also headquartered in Chicago, Illinois. Verano currently owns and operates seven dispensaries in the Chicago area and plans to expand the number of locations this year and in the coming years. Verano just went public and its shares have been listed on the Canadian Stock Exchange since early February. The stock has had a slow start, but in the long run, this company and stock are well positioned to benefit from the cannabis industry in the United States and the state of Illinois. 
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The legal cannabis market in Illinois is booming. March sales just set a new monthly record and nationwide sales will exceed $1 billion by 2021. Investors looking to take advantage of this strong trend should look to Cresco, Green Thumb and Verano. All of these companies are early market leaders, based in Chicago, Illinois. Discover what else we have in our model portfolio and receive our trade alerts! Best,Michael Water Editor, Cannabis Effects Trading
author Michael Vodicka owns shares in Cresco Labs (CRLBF), Green Thumb Industries (GTBIF) and Verano Holdings (VRNO).
About the author and cannabis stock trading
Michael Wodicka is an equity analyst with over 20 years of trading and investment experience. His research has received attention in some of the industry’s most respected publications. He has been investing and managing investors in the cannabis sector since 2013. 
Mr. Vodicka offers his experience and advice to Cannabis Stock Trades members. Sign up for Cannabis Stock Trades and receive exclusive analysis from Mr. Water, trade alerts and a sample portfolio.
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