These Marijuana Stocks are Growing at an Incredible Rate
Marijuana stocks have seen a massive amount of growth in the past few years. While this growth has been much greater in the last few months, the overall momentum of pot stocks has remained positive. But as always, some marijuana stocks to watch are growing at a faster rate than others. The cannabis industry is a fast-paced market and one that can push some companies up quicker than it does for other cannabis businesses. With that, there are several ways to identify a winning marijuana stock.
For one, we can use the numbers that a company puts out. As we all know, marijuana stocks are required to report their financial numbers every quarter. Because of this, we can take a closer look at how a pot stock is doing in the present day. Although this alone does not tell the whole story, it is a great place to start. In addition to this, we have to have a decent idea of what a cannabis company is doing to stay competitive in the future. Because the cannabis industry is such a fast-paced place, competition is always key. With that in mind, here are two pot stocks to watch that are growing very quickly.
A Little Known U.S. MSO Marijuana Stock
Harvest Health and Recreation Inc. (OTC:HRVSF) is one of the leading and relatively unknown MSOs in the U.S. cannabis industry. HRVSF stock has benefitted greatly from the increase in demand for marijuana felt all around North America. In a recent report, Wall Street analysts stated that they expect HRVSF stock to show a sales increase of around 300% in the next year or two. This would represent a jump from around $120 million right now to over $650 million by that time.
Although this may seem like a lot, HRVSF stock has been showing a great deal of momentum in the past few months. The company reportedly has almost as many licenses as some of the largest MSOs in the U.S. cannabis industry. It has stated that it holds around 210 licenses for both dispensaries and cultivation areas. With this, the company could become one of the largest MSOs in the world in the near future. With target markets like Arizona, the company hopes to bring that dream to fruition in the next year or so.
A Marijuana Stock To Watch In A Niche Sector
Flowr Corp. (OTC:FLWPF) is another one of the leading growers of cannabis working out of Canada. In the past FLWPF stock has gained momentum due to its unique place in the North American cannabis industry. For those who don’t know, Flowr Corp. produces what is known as ultra-premium cannabis. Because this area of the market doesn’t have a lot of competition, the company has been able to grow substantially. FLWPF stock has also benefited from the company’s completion of its new Kelowna grow campus.
With this, it should be able to grow a much greater quantity of high-quality cannabis in the near future. Analysts have stated that FLWPF stock should be able to grow its sales by as much as 80% in the next few years to as much as $80 million per year. This is not a major increase considering how much momentum the company has shown already. But moving forward, Flowr Corp. remains one of the leading marijuana stocks to watch.