2 Top Pot Stocks Watch In The Cannabis Industry
As we focus on the future many marijuana stocks are doing the same. The cannabis industry as a whole focuses on innovation from new products strains and services. With the global cannabis industry set to make between $50-$100 billion over the next decade, a lot is in the works. Especially with the possibility of legalizing cannabis nationwide. Currently, many marijuana stocks have seen an increase in momentum. Some analysts believe it’s a combination of reasons. For instance, the effect Covid19 has had on the industry created an increase in cannabis demand. Which has resonated well for U.S marijuana stocks like Curaleaf Holdings Inc. (CURLF Stock Report) and marijuana stocks like acreage Holdings (ACRHF Stock Report ).
Also, Canadian marijuana stocks traded well on November 30th. Aura cannabis (ACB Stock report) was one of them with an increase of 32% from last Friday’s close. It seems like Canada’s increase in cannabis demand may be catching up in the market. As the market continues to grow alongside the global cannabis industry there is much to be excited about. For example, some cannabis companies are working on expanding operations and growing their customer base. In addition to this other companies are working on acquisitions to purchase other cannabis-related businesses. As well other cannabis companies are searching for new places to expand its cultivation and processing facilities. It looks like as we get closer to 2021 many companies are preparing for what’s next to come. Below we will discuss 2 top cannabis stocks to watch for 2021 and beyond.
Marijuana Stocks To Watch In 2021
Harvest Health & Recreation Inc. (HRVSF Stock Report)
Green Lane Holding Inc. (GNLN Stock Report)
Is Harvest Health & Recreation Inc. (HRVSF) On Your Marijuana Watchlist?
Harvest Health & Recreation Inc. over the last few months has found its way on to investor’s watchlist. This marijuana stock runs its operation by cultivating, processing, and selling retail cannabis. Over the last month starting from the beginning of October to November 30th company has had a 96% increase in trading. That’s a substantial gain considering other industries due to Covid are have not performed well. The company’s latest Q3 report shows that the company is up 86% with a revenue of $61 million. This increase is in comparison to Q3 of 2019 when revenue was $33.2 million. Also, Harvest posted their 2020 revenue projections went up to over $225 million.
“Our third quarter results demonstrate further progress toward our primary goal of returning to profitability through revenue growth, cost controls, and investments in our core markets of Arizona, Florida, Maryland, and Pennsylvania” said Chief Executive Officer Steve White. “We are focused on preparing for recreational cannabis in Arizona in 2021 and continuing to build on this positive momentum as we execute on our plan.”
Furthermore, in the middle of the 3rd quarter, the company opened new dispensaries across the United States. One new location was added in Pennsylvania and Arizona. As Harvest Health continues to show progress and build momentum December may be a good month for this marijuana stock to watch.
Is Green Lane Holding Inc. (GNLN) On Your Marijuana Watchlist?
Green Lane Holding Inc. is marijuana stock some may not know about. However, that may change as the company has been building more steam in the market. The company is a global platform for the advancement and distribution of high-quality cannabis accessories and lifestyle products. As well part of their business is to be a third-party brand accelerator and omnichannel distribution platform. What some don’t know is that Green Lane is most times the preferred associate when working with top brands like cookies and PAX labs to name a few. YTD the company is up 21% and for the month of November, GNLN stock is up over 60%.
In recent news, the company announced the start of vapor.com Canada. This E-com platform will allow people in Canada to buy cannabis products and accessories from the comfort of their homes. This news is in addition to the company releasing the world’s first gravity-powered hooka.
“Although vapor.com has been shipping throughout Canada since 2013, we were eager to provide Canada-based customers with the same exceptional shopping experience offered to those ordering from the U.S.,” said Aaron LoCascio, Co-Founder and CEO of Greenlane Holdings, Inc. “We are thrilled to launch vapor.com Canada in time for the holiday season, providing our customers with more streamlined shipping of thousands of vaporization products during the busiest time of year.”
Heading into December Green Lane is displaying a lot of growth potential. With much in the works for the company, this month may increase market momentum. As more investors start to notice of this marijuana stock now may be the time to get in on the action. So as we close in on the new year Green Lane looks to be a marijuana stock to watch in 2021.
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