The Current Market Trend For Cannabis Stocks
This week in the market top marijuana stocks reminded investors why they are known to be some of the most volatile equities investors can trade. While most cannabis stocks began climbing to regain some of the upward momenta from January, they are still down from last week’s highs. In reality, this could be a good opportunity for investors to pick up shares of top pot stocks at some lower price points.
Currently, cannabis stocks like Harvest Health & Recreation Inc. (OTC: HRVSF) could quickly recover some of the gains from earlier in January and then push higher in February trade action. HRVSF stock closed trading on January 27th at $3.03 and has a high of $3.68 earlier in the month. As January comes to an end 2021 has already given way to gains for most top marijuana stocks.
Regardless of the pullback this week some of the best cannabis stocks to invest in are trading higher than they were in 2020. In the U.S. the growing cannabis market has enabled leading marijuana companies to see revenue growth heading into this year. Because the emerging markets in the U.S. are still showing signs of growth more revenue gains are expected for 2021. With this in mind, cannabis investors are looking for the best pot stocks to watch heading into February.
Growth Estimates In the Global Cannabis Market
Currently, marijuana stocks represent one of the fastest-growing industries of modern times. As it stands many analysts believe the global cannabis market could see $47 billion by 2025. To compare global cannabis sales are estimated at $19.7 billion in 2020. In essence, this means the industry will more than double in the next five years.
With the bulk of this growth expected in the U.S., the best-positioned cannabis companies could benefit substantially. Finding the right cannabis stocks to invest in could be difficult with so many pot stocks to choose from. Because of this growth, investors should spend time researching these cannabis companies and analyzing their financials and plans for the future.
For the purpose of finding the best marijuana stocks to put on your watchlist, we can begin to do research into different companies. Actually, these companies have shown upward momentum and have continued to position themselves for growth in the industry. With the intention of discovering the best marijuana stocks to buy in 2021 let’s take a look at 2 cannabis stocks to watch in February.
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Marijuana Stocks To Watch:
- Village Farms International, Inc. (NASDAQ: VFF)
- Jushi Holdings Inc. (OTC: JUSHF)
Village Farms International, Inc.
Village Farms International, Inc. is one of the largest operating greenhouse growers in North America. The company has taken its experience in large scale agriculture and produce and put it into cannabis cultivation. Actually, Village Farms has done this through its wholly-owned subsidiary Pure Sunfarms. In general, Pure Sunfarms has become one of the largest cannabis operations in the world. The company is a low-cost producer of some of the best-selling brands and has generated seven consecutive quarters of profitability.
Currently based in Canada Pure Sunfarms is also pursuing a strategy to become a leading supplier of white-labeled CBD products in the U.S. The company is targeting legal cannabis and CBD opportunities with long-term potential. In 2020 Pure Sunfarms reported Q3 financials with net sales of $17.65 million an increase of 75%. Additionally, the company saw gross profit increase 81% to $6.09 million and adjusted EBITDA increase 125% to $4.37 million. On January 20th Village Farms announce it has closed on a registered direct offering of $135 million. The news of the offering seems to have been taken well by investors as the stock has continued performing well in the market.
VFF stock is up 21.89% year-to-date and closed trading on January 28th at $12.36 per share. Currently VFF stock has a 52-week high of $15.05 At the present time analysts at CNN Business have a median price target of $21.94. In essence, this would be an increase of 77.48% from current levels. For this reason, VFF stock is the top marijuana stock to add to your watchlist for February 2021.
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Jushi Holdings Inc.
Jushi Holdings Inc. is a vertically integrated cannabis company focused on building a multistate portfolio of branded cannabis-derived assets. Currently, the company has been doing this with strategic acquisitions across the U.S. Recently Jushi announced it has opened its 16th dispensary nationally its 4th in Illinois. In detail the company’s flagship dispensary BEYOND/HELLO opened in Bloomington on January 26th.
Also, in recent news, Jushi became the sole owner of all its retail and grower processing subsidiaries in Pennsylvania, Illinois, and Virginia. At the present time, Jushi holds the right to open an additional 16 stores nationally and expects to open 10 to 12 stores in 2021.
JUSHF stock is up 10.89% since the start of 2021 with a 52-week high of $7.26 on January 26th. Currently, analysts at Stock Invest are predicting JUSHF stock to rise 160.57% during the next 3 months. As Jushi continues opening new dispensaries across the U.S. its revenue could see a substantial boost this year. With this in mind, JUSHF stock is a marijuana stock to watch heading into February.
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