11 Best Cannabis Stocks To Invest In

4. SNDL Inc. (NASDAQ:SNDL)

Number of Hedge Fund Holders: 10

SNDL Inc. (NASDAQ:SNDL) is the largest private-sector liquor and cannabis retailer in Canada. The company also operates as a licensed cannabis producer and stands as one of the country’s premier vertically integrated cannabis enterprises. SNDL has shown massive growth over the last few years, with its revenue skyrocketing from $60.9 million in 2020 to just over $909 million last year. That said, the Calgary-based firm still hasn’t made a profit in its last four financial years. To help improve its profitability, the liquor and cannabis retailer announced a restructuring plan in July to help slash its annual expenses by $20 million.

SNDL Inc. (NASDAQ:SNDL) is finally transitioning from a meme stock into a real business. The company represents deep value with an imminent catalyst for growth as it offers robust downside protection through its various assets. These include its core Canadian liquor and cannabis business which is nearing cash flow breakeven after recent efficiency improvements. Other US assets, including loans and properties in Michigan, Massachusetts, Nevada, and Texas, provide a safety net against potential downturns.

SNDL Inc. (NASDAQ:SNDL) remains focused on strategic expansion and announced the acquisition of all outstanding shares of Nova Cannabis Inc. recently, marking a major milestone. Moreover, it has also won a bid to acquire Indiva Limited, a leading producer of cannabis edibles in Canada. To return value to its shareholders, SNDL Inc. (NASDAQ:SNDL) announced a share repurchase program of around $70.3 million in November. In Q3 of 2024, the company also increased its cash balances from $183 million to $263 million and continues to have no outstanding debt.