Cannabis Market Grows In 2021
Marijuana stocks and the cannabis industry are starting 2021 making substantial gains in the market. In fact, the top pot stocks to watch have continued to give investors a profitable entry into cannabis investing. In reality, this year could become a historical one in the sense of rapid growth and advances for the global cannabis industry. Currently, the U.S. continues to legalize cannabis on a state level and major cannabis reform will get a vote in the Senate. Globally, countries like Mexico are also considering legalizing marijuana for recreational use. In turn, this would give U.S. and Canadian cannabis companies another market to grow in.
At the present time, investors have been looking for cannabis stocks that could give them exposure to the growing marijuana industry. One example of a U.S. company that is showing growth potential is Curaleaf Holdings, Inc. (OTC: CURLF). Already to start 2021 CURLF stock has gained 26.55% and could continue providing gains for shareholders. During January Canadian marijuana stocks have also shown substantial gains in the market. Actually, companies like Aphria Inc. (NASDAQ: APHA) have gained 83.24% so far to start 2021.
In reality, the cannabis industry is one of the fastest-growing markets of modern times. By 2025 analysts are predicting a $47 billion global cannabis market. In essence, this could mean substantial revenue growth from the best-positioned cannabis companies. Currently, this is giving cannabis stocks to invest in a much more long-term appeal for investors. So, could an investment in the best cannabis stocks to buy be beneficial to your portfolio?
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What The Future Holds For Top Marijuana Stocks
While 2020 began a turnaround for leading cannabis stocks, in 2021 a strong performance could establish a new era for the industry. In fact, recent gains have shown the potential most of the best cannabis stocks to invest in have for the next five years. Provided that current market trends persist into next month some of the top pot stocks to buy could see double-digit percentage gains. But with so many different options finding the right marijuana stock requires ample research into a company’s financials and plans for future growth.
With this in mind finding a cannabis company that has growth potential in key markets is a place to start. Generally speaking, if these pot stocks can show increasing revenue growth in 2021, they could soar in the market. For the purpose of finding the best cannabis stocks for 2021 gains let’s take a look at 2 of the best cannabis stocks to invest in right now.
Marijuana Stocks To Watch:
- Harvest Health & Recreation Inc. (OTC: HRVSF)
- Acreage Holdings, Inc. (OTC: ACRHF)
Harvest Health & Recreation Inc
Harvest Health & Recreation Inc is a vertically integrated cannabis company and multi-state operator based in Arizona. The company has 37 retail locations across 7 states, including 15 dispensaries in Arizona. Generally, Harvest is in a good position to benefit from recent changes to the cannabis market in Arizona. In 2020 the company was already showing revenue growth in its latest financials. In fact, in Q3 2020 Harvest reported $61.6 million up 86% from the same period in 2019.
Additionally, the company increased its revenue target to $225 million from $215-$220 million. And with changes in Arizona, sales from the recreational market could boost sales much more for 2021. Given that Harvest has also established its presence in other key states we could see strong revenue growth from the company in its next financial results.
HRVSF stock is up 44.91% since the start of 2021 closing trading on January 21st at $3.13 per share. Currently HRVSF stock continues pushing to new highs in January showing upward momentum. Recently, analysts at Tip Ranks is giving HRVSF stock a 12-month price target of $3.20 which is only 2.24% from current levels. Although this analysis does not give HRVSF stock much more gains in the market in reality this could be a modest prediction. With this in mind, HRVSF stock is a top marijuana stock to watch for gains in 2021.
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Acreage Holdings, Inc.
Acreage Holdings, Inc. is a multi-state operator of cannabis cultivation and retailing facilities in the U.S. The company has 28 operational dispensaries across 15 states in the U.S. In reality the companies award-winning retail store brand The Botanist has a range of national and regional cannabis products. During 2020 Acreage reported revenue growth in its Q3 2020 financials of $31.7 million. In fact, this is an increase of 42% from the same period in 2019.
In addition, the company is reporting an increase in same-store sales of 36% for the quarter. Currently, Acreage is also one of the many ways Canopy Growth Corporation (NASDAQ: CGC) is establishing entry into the U.S. cannabis market. In fact, the two companies already have plans to release Canopy’s THC infused beverages in the summer of 2021.
ACRHF stock is up 125.76% since the beginning of 2021 ending January 21st trading at $7.00 per share. As Acreage continues to expand into other markets the company could have substantial revenue growth this year. Currently Gov Capital is giving ACRHF stock a 1-year price forecast of $12.20. In general, this would be a 93.171% gain from current trading prices. For this reason, HRVSF stock is one of the best marijuana stocks to watch for 2021.
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