Will These Cannabis Companies be Top Marijuana Stocks In 2021
When it comes to the cannabis industry and marijuana stocks there is plenty of new opportunities to get involved. With more states going legal it allows more chances for cannabis companies to partake in new markets. When things like this happen it’s usually a good sign to start looking for marijuana stocks to buy. Sometimes when looking to add cannabis stocks to your portfolio finding up-and-coming plays may be a good option. This offers investors good entry pints before a potential breakout. With 2021 already starting on a high note things are looking up for the cannabis industry.
Over the last 6 months of the top, most marijuana stocks have been trending up in the market. This momentum from 2020 has rolled over into the new year. So far in 2021 marijuana stocks like Green Thumb Industries Inc. (OTC:GTBIF) and Truelieve Cannabis Corp. (OTC:TCNNF) both hit new all-time highs. This is just a small glimpse of how other marijuana stocks may perform in near future. Especially with the possibility of federal cannabis reform which some analysts believe may cause more marijuana stocks to rally. In addition to federal cannabis reform marijuana stocks have continued to see more upward momentum due to the recent runoff elections. So with this, it seems that the near and distant future is looking promising for marijuana stocks and the cannabis industry. Below we will discuss 2 marijuana stocks looking to see more gains during the new year.
Marijuana Stocks To Watch
Sundial Growers Inc.
For those who are not familiar with this marijuana stock, Sundial Growers Inc. runs its business by cultivating craft cannabis with a state of the art cost-effective setup. The company prefers to grow its cannabis indoors which some feel is how the best cannabis is grown. Over the last few months, SNLD stock has caught some nice upward momentum. For the month of November, SNDL stock shot up by 290%. This a good indicator that the company has the ability to be a profitable marijuana stock as more investors take notice.
Back in December SNLD stock dropped 34% for the month before rising back up. So far in January SNDL stock is up over 30%. These gains show that the company is still a marijuana stock to watch and maybe one that gets added to more portfolios if things continue to progress. In recent news, the company announced the launch of its high-quality cannabis derivative products under the Top Leaf brand. This is due to the increase in demand for more cannabis derivatives like oils tinctures and edibles to name a few.
“We made a strategic decision to produce these premium products based on demand for solventless, flavorful, pure, and potent cannabis concentrates from a growing group of consumers,” said Andrew Stordeur, President and Chief Operating Officer of Sundial.
For those who are looking for marijuana penny stocks, this may be the cannabis company for you. So as the company pushes forward 2021 may be a promising year for Sundial Growers Inc.
Curaleaf Holdings Inc.
Curaleaf Holdings for most of 2020 has been another marijuana stock trading up in the market. As a recap for those who don’t know Curaleaf Holdings is a vertically integrated cannabis company. Currently, the company does business in 23 states with 96 cannabis stores in the U.S. As well the company has 23 growing facilities along with a big employment team to help run the business. Looking back from earlier in 2020 CURLF stock has been trading up since march lows. From March 17th to March 29th CURLF stock shot up by 33%.
Beyond battling small dips later in the year overall CULRF stock is up 110% over the last year. For the month of December Curaleaf fought its way through volatility and was able to remain profitable. During that time CURLF stock rose 8% and for the month of January, CURLF is up 10%. This uptick to start the new year was enough for the company to reach new all-time highs. There is a lot of positive sentiment surrounding marijuana stocks and this increase is a sign of what potential market growth may look like. In recent news, the company announced they have successfully completed a new $50 million, three-year secured revolving credit facility. The net profit made from this arrangement will be used to fund all future expansions of the company.
Joseph Bayern, Curaleaf Chief Executive Officer, commented, “As Curaleaf continues to successfully execute on its growth strategy focused on leveraging the rapidly expanding market for U.S. medical and adult-use cannabis, particularly in light of the recent election results and their expected impact on the sector, the new revolving credit facility we announced today provides additional financial flexibility to our capital structure as well as the opportunity to create future value at a more favorable cost of capital.”
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