The Best Cannabis Stocks In The U.S. In 2020
As Christmas week approaches investors are asking themselves will they see a Santa Claus rally in the market next week? At the present time, the best marijuana stocks in 2020 have shown revenue growth and strong financial performances in their most recent reporting. Since market optimism could continue next week, so does the possibility of more gains in marijuana stocks to watch. But with pot stocks currently trading around YTD highs in the market is now the right time to invest?
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As it stands marijuana stocks might have already priced in most of the legalization gains in these last couple of months. In detail leading, marijuana companies like Green Thumbs Industries Inc. (GTBIF Stock Report) will start the trading week coming off a new high of $23.48 on Friday, December 18th. In essence, the company continues expanding its footprint in the U.S. market and attaching itself to popular private brands in the industry.
At the present time, U.S. marijuana stocks to watch are giving investors an opportunity to invest in one of the fastest emerging growth markets in U.S. history. In fact, in the U.S. cannabis sales in five western states grew over 30% in October adding to the record growth most marijuana companies were reporting for their 3rd quarter results. In addition, analysts are predicting the American cannabis market will more than double in sales in the next five years. Although federal legalization would be extremely beneficial for growth in the future. Currently the cannabis industry presently the market continues to prosper without it.
U.S. Pot Stocks To Watch Gain In 2020
Although some of these marijuana companies have developed different strategies in growing their business many are currently yielding similar results. Some of the best performing cannabis companies like Curaleaf Holdings Inc. (CURLF Stock Report) have continued with upward momentum for most of the month of December. In addition, the company is reporting record revenue growth and expansion of its brand into emerging markets. CURLF stock is up over 102% year-to-date and could continue this trend into next week.
In the event recent U.S. federal legislation regarding cannabis decriminalization and legal reform passes in 2021 marijuana companies could have more growth in revenue. For the purpose of exploring the best investment options in the U.S. cannabis industry let’s take a look at some U.S. cannabis companies that have the ability to bring value to your investment portfolio in the near future.
Best U.S. Marijuana Stocks To Watch In 2020: Trulieve Cannabis Corp.
Trulieve Cannabis Corp. (TCNNF Stock report) is a leading and top-performing cannabis company based in the United States, that is currently focusing its expansion through the state of Florida. Currently, Trulieve has over 51% of the market in the state. Also, the company has begun to expand its company into other states. Recently the company opened its 74th dispensary nationwide in Davenport, Florida. In fact, this is the 68th dispensary in the state and Trulieve is a better performing marijuana company in the industry. To elaborate the company has achieved record 3rd quarter revenue of $136.3 million. In addition, it has adjusted EBITDA of $67.5 million or 50% of revenue in the 11th quarter of consecutive growth and profitability. As Trulieve increases its presence into six states the company is establishing a model for success by duplicating its achievements in Florida.
TCNNF Stock is currently up 177% year to date and has increasing potential with its recent expansion into other states. Recently analysts are predicting a price target of about $41.09 over 25% up from current levels. In reality, if Trulieve can continue to deliver in other states similar to its foothold in Florida it has growth potential for next year. For this reason, TCNNF stock is a marijuana stock for your 2021 watchlist.
Best U.S. Marijuana Stocks To Watch In 2020: TerrAscend Corp.
TerrAscend Corp. (TRSSF Stock Report) is a leading North American cannabis operator with vertically integrated operations in Pennsylvania, New Jersey, and California in addition to operating as a licensed producer in Canada. Recently the company announced it entered into a debt financing agreement to receive $20 million from Canadian giant Canopy Growth Corp (CGC Stock Report). In essence, this could be a manner in which Canopy invests in the U.S. cannabis market for the future.
TerrAscend has been growing and performing well in 2020 announcing a record 3rd quarter revenue of $51 million. Which is a 90% increase year over year. In addition, the company increased its 2020 full-year guidance to $196 million. Currently, the company has opened its 8th dispensary in Capitola, California its 5th in the state. In detail, the company’s dispensary The Apothecarium is recognized as one of the nation’s premier cannabis dispensaries. Currently, the company continues to expand with a new dispensary in New Jersey.
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TRSSF Stock is up over 362% year-to-date and has potential for more growth going into 2021. Currently, the company has a year to date high of $10.91 earlier in December. Going into next week TRSSF stock has some potential for gains if market sentiment remains unchanged. As TerrAscend progresses into 2021 the company is showing substantial potential for revenue growth for the future. With this in mind, TRSSF stock is a U.S. marijuana stock for Christmas week into 2021.