Those who have considered investing the oil industry lately will likely find a fascinating story. Many companies are still trading at valuations we saw a couple years ago when oil prices were below $50 a barrel, but the looming threat of alternative energy has some people wondering how much longer oil’s investment window will last.
Fortunately for those looking at these attractive valuations, oil’s end-of-days scenario is likely a ways down the road. So we asked three Fool.com contributors to highlight a stock they see in the oil industry right now that looks attractive. Here’s why they picked these stocks.
Top Dividend Stocks To Buy Right Now: iAnthus Capital Holdings, Inc. (ITHUF)
iAnthus Capital Holdings owns and operates eight cannabis cultivation facilities and 46 dispensaries in four U.S. states: Florida, New York, Massachusetts, and Vermont. The company also strategic partnerships with cannabis businesses operating in Colorado and New Mexico.
Shares of iAnthus have jumped more than 150% so far this year. The stock surged in mid-January following the company’s acquisition of the medical marijuana business owned by GrowHealthy Holdings. This deal allowed iAnthus to expand in a significant way into the Florida market. Over the next couple of months, though, the stock gave up most of those gains. However, iAnthus has been on a roll since early April, helped in part by the close of its full acquisition of Massachusetts-based Pilgrim Rock and a $50 million investment by Gotham Green Partners.
Like MariMed, iAnthus stands to benefit from growth in the cannabis market in Massachusetts. But Florida and New York could be even more important to the company’s future. iAnthus currently claims one of only 13 cannabis licenses in Florida and one of 10 licenses in New York.