However, there is another top U.S. marijuana stock that could also be a big winner. Is now the time to think about buying Kush Bottles (NASDAQOTH:KSHB)?
Kush Bottles finds itself in a unique position. It definitely falls into the category of marijuana stock, since the company's core business is selling packaging and supplies to marijuana dispensaries and growers. But because Kush Bottles doesn't actually deal with marijuana itself, the company has access to capital that most industry players don't.
Established in 2010, Kush has been able to grow rapidly as more states have legalized marijuana. The company now has more than 5,000 customers, up from around 4,000 in 2017. And sales are soaring. During each of the last three quarters, Kush reported year-over-year revenue increases of at least 249%.
The great news for Kush is that expansion of the U.S. marijuana industry is still only in its early stages. Kush is moving into states that have new recreational markets such as Nevada and Massachusetts. Legal recreational marijuana in the company's home state of California should have a significant growth trajectory ahead.
Even more states are looking to legalize recreational marijuana. Michigan votes on a measure to allow the legal use of recreational marijuana later this year. New Jersey and New York could follow suit in the not-too-distant future.