Cannabis Stocks And 2021 Market Performance
As leading marijuana stocks appear to bounce back in the market which pot stocks are you investing in? In 2021 top cannabis stocks to buy have taken investors on a ride of market volatility that has left some investors down in the sector. After reaching new highs in February most pot stocks have seen a sharp decline in value for the past few months.
Although this is unfortunate for traders that bought shares during the rally in Q1 it does present an opportunity for new investors at the moment. In the last week of May, most top marijuana stocks have started seeing some upside in trading. During May most leading cannabis companies are delivering strong Q1 earnings that have not resonated in the market. In 2021 it seems the only catalyst that has created momentum in the marijuana sector is US cannabis legalization and reform.
As more states establish legal cannabis programs the industry is growing at a rapid pace. In general, this has increased demand and also increased revenue for top cannabis companies. Additionally, many leading companies are expanding their operations in the US increasing their presence in new markets. As it stands the next five years could bring significant growth to the cannabis industry. In the US 2021 is bringing increased cannabis sales to new markets and long-established markets as well.
Making The Best Investments Into Marijuana Stocks
In general, investing in marijuana stocks has its inherent risk. To explain further the best cannabis stocks to buy are also known for displaying extreme volatility in the market. Because of this volatility, more investors prefer short-term positions in the cannabis sector.
With the recent drop in stock prices in marijuana stocks, there could be some short-term returns in the near future for traders. Picking up some top pot stocks at these levels could prove to be profitable once the sector begins moving higher. Before investing in cannabis stocks, it’s important for traders to always do their own research into an investment.
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Initially studying how a stock performs in the market and looking into a company’s earnings results can help you establish the best investments. Especially with more volatile stocks, it’s important to establish a good entry point to achieve profitable results. With this in mind, we can look into some investment options in the cannabis sector. Currently, these cannabis stocks have not recovered as much value as some of the other market leaders. With the cannabis sector showing some momentum let’s take a look at 2 top marijuana stocks to watch before June 2021.
Marijuana Stocks To Watch
- TPCO Holding Corp. (OTC: GRAMF)
- Jushi Holdings Inc. (OTC: JUSHF)
TPCO Holding Corp.
Presently in the cannabis spotlight, TPCO Holding Corp. is a vertically integrated cannabis company with one of the largest operational footprints in California. Formally known as The Parent Company the newly formed public company consists of Caliva and hemp manufacturer Left Coast Ventures. Additionally, TPCO also brought on Shawn Jay-Z Carter as Chief Visionary Officer and brand strategist along with the entertainment giant Roc Nation.
Essentially JAY Z will also play a role in helping minority-owned cannabis businesses receive funding. Roc Nation will provide assistance in branding and marketing with its long roster of celebrities, influencers, and athletes. On May 17th TPCO released its first-quarter 2021 results with net sales of $39.9 million. In addition, gross profit for Q1 2021 was $7.2 million, or 18% of net sales. The Parent Company sustained an adjusted EBITDA loss of $11.4 million in Q1. Also, the company has a strong cash position which totals $281 million for future growth in the market.
GRAMF stock is trading at $6.30 on May 26th in the last hour of the trading day. In February GRAMF stock saw a high of $13.96 and is down 40.42% year to date. According to analysts at Market Beat GRAMF stock has a consensus price target of $12.50 per share. Essentially this would represent an increase of 98.412% from current levels. For this reason, GRAMF stock is a top marijuana stock to add to your watchlist for June.
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Jushi Holdings Inc.
Jushi Holdings Inc. is a cannabis and hemp company that is making its presence known in the medical and recreational cannabis markets. The company has been focusing on building a portfolio of branded cannabis and hemp-derived assets in a variety of US markets. Currently, Jushi operates 11 retail locations under the BEYOND/HELLO brand. Recently the company completed the acquisition of two California dispensaries. Additionally, the company closed another acquisition of Dalitso LLC Facility establishing its footprint in Virginia.
Currently, Jushi has 30 retail licenses in the US, and its national brand of dispensaries Beyond/Hello continues to grow online and in-store. On May 24th Jushi announced it expects to complete its 2020 annual financial statement audit and filing of the documents by May 28th. Currently, Jushi is expanding into new markets and could see significant revenue increases in 2021. As things progress in the cannabis industry Jushi could become one of the top cannabis companies in the US.
JUSHF stock is trading at $5.83 on May 26th heading into the close. In February JUSHF stock saw a new high of $9.06 and is up 2.39% year to date. According to an analyst at Tip Ranks JUSHF stock has a 12-month average price target of $9.98 per share. In essence, this would represent an increase of 72.51% from current levels. With this in mind, JUSHF stock is a top cannabis stock to watch before June 2021.
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