2. iAnthus
iAnthus Capital Holdings (OTC:ITHUF) has a market cap of just over $200 million. The U.S.-based stock is a much more modest buy as it has recorded sales of only $53 million over the trailing 12 months. It trades at four times revenue, so investors have also not valued it as highly as they have the big-name pot stocks in the industry.
iAnthus claims to operate more than 30 dispensaries. Its tetrahydrocannabinol (THC) products are in more than 190 stores, while its cannabidiol (CBD) products are in over 2,300 stores across the country. The multistate operator is continuing to grow its reach -- iAnthus announced in 2020 that New Jersey had given it a cultivation permit and that Massachussetts green-lighted it to begin operating activities in the state.
With a footprint in 10 states, including hot markets like California, Florida, and Massachusetts, the company could see a lot of growth in 2020. While it's still a modestly sized pot stock today, that could change this year as it continues to rake in more sales. It may be due for a rebound, as iAnthus' share price cratered nearly 80% in the past year.