Author Bio
Zhiyuan Sun is a statistician with a knack for analyzing clinical trials and company financials. Investing in healthcare and cannabis is his passion, as well as looking out for new, actionable stock investment ideas in these sectors. Fool since April 2020. Lives in Québec City, Canada. Follow @Bio Chameleon
The best growth stocks often appear expensive, no matter the market environment. That s why, when shares dip, investors get excited about a new buying opportunity.
Indeed,
Curaleaf Holdings (OTC:CURLF)(CNSX:CURA) are two companies that appear overvalued to some, trading at 36 and 11 price-to-sales (P/S) ratios, respectively. However, both the crowdsourced video game developer and the nation s largest marijuana company are more than doubling their revenue year after year. Let s look at why they are the ideal choice for investors who are passionate about growth.
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Now is as good a time as any to look at new and exciting options to freshen up one’s portfolio. In this article, I’m going to discuss three growth stocks with the potential to provide excellent long-term returns. These stocks are of the higher-risk, higher-reward type. But for investors bullish on growth, that’s the place to be.
Let’s dive into these options.
Lightspeed
Lightspeed POS(TSX:LSPD)(NYSE:LSPD) is near the top of the list.
This provided of point-of-sale (POS) hardware and software products has seen excellent organic growth. However, the company has diversified its portfolio and accelerated its growth through a string of acquisitions of late.
Harvest Health & Recreation Inc. (OTC: HRVSF)Ayr Wellness Inc.
In particular, Ayr Wellness Inc. has been expanding rapidly making significant acquisitions in key markets across the US cannabis industry. Last month Ayr opened 3 new retail locations in Florida where it now has the fourth-largest footprint. With the new locations, Ayr has 34 dispensaries in the state and a total of 50 stores nationwide. In its most recent financials, the companyâs full-year 2020 revenue was up 48% year over year to $47.8 million. Ayr also provided guidance for 2022 which includes a target revenue of $725 million and adjusted EBITDA of $325 million. Ayr celebrated this 4/20 with record sales of $1.24 million for the day and over 14,200 transactions.
(Unaudited data) In thousands of euros 2021 2020 Variation at current
exchange rates Variation at constant exchange rates France 51,518 72,820 -29.3% -29.3% Europe
GrowGeneration Corp. (NASDAQ: GRWG)Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. is a real estate company specifically focusing on leasing properties to licensed companies in the regulated U.S. cannabis industry. With its most recent expansion, IIP owns 68 properties across 18 states in the U.S. In April the company announced it entered into an agreement with a Jushi Holdings Inc. (OTC: JUSHF) subsidiary in Pennsylvania for a cannabis growing and processing facility. In detail, IIP is adding an additional $30 million in funding for the completion and buildout of the facility and has a total investment of approximately $45.8 million.
In February IIP released full-year 2020 financials that showed strong revenue growth. The company generated total revenues last year of approximately $116.9 million up 162% from 2019 but missed estimates by analysts. Another important part about IIP declared is its dividend to shareholders totaling $4.47 per share a 58% i