Investing In Cannabis Stocks
Are you looking to invest in the best marijuana stocks to buy in 2021? At the present time, many leading cannabis stocks have seen a drop in market value in March and April. In general, this could be an opportunity for investors that are looking to gain exposure to the cannabis market to find top pot stocks at lower price points. After reaching new highs on February 10th most of the cannabis sector has seen a substantial reduction in stock price that has persisted for over a month.
At the present time, top marijuana stocks to invest are representing an industry that could grow substantially over the next five years. As cannabis legalization continues to expand across the U.S. on a state level, the prospects of reaching federal cannabis reform are becoming greater. Recently Chuck Schumer announced he will continue to actively pursue introducing cannabis reform legislation on the Senate floor in the near future. At the current time, this could have a big impact on the cannabis sector and leading cannabis stocks in the market.
Currently, more investors are looking at other areas of the market contributing to the drop in pot stocks. At the moment it could be a good time to find the best marijuana stocks to buy as they have lower stock prices. In the U.S. there are some new companies that have been established by way of Special Purpose Acquisition Companies that could have a strong presence in the cannabis market in the future.
How Federal Reform Could Be A Catalyst
In addition, many analysts and investors feel once federal reform is in place in the U.S. leading Canadian cannabis companies will be able to grow significantly as the market expands. Before investing in marijuana stocks there are a few to know about top cannabis stocks. For one pot stocks are known for being extremely volatile in the market. Because of this more investors prefer to day trade or swing trade marijuana stocks for short-term gains.
With the marijuana sector continuing to see downward pressure in the market investors can possibly find short-term value in cannabis stocks right now. With this in mind, we can take a deeper look into some options to add to your watchlist for next week in April. Both of these pot stocks have seen much higher market value in 2021. In the event, top marijuana stocks begin to rebound these cannabis stocks could see some upside in the market.
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Marijuana Stocks To Watch:
- TPCO Holding Corp. (OTC: GRAMF)
- Aleafia Health Inc. (OTC: ALEAF)
TPCO Holding Corp.
TPCO Holding Corp. is a leading vertically integrated cannabis company with one of the largest operations in California. Named The Parent Company or TPCO the new company is made up of direct-to-consumer platform Caliva, and hemp manufacturer Left Coast Ventures. In addition, TPCO also brings on global icon Shawn Jay-Z Carter and leading entertainment powerhouse Roc Nation. In detail, Shawn Carter will be TPCO’s Chief Visionary Officer and brand strategist along with Roc Nation. Additionally, Jay-Z is responsible for helping fund and invest in minority-owned and black-owned cannabis businesses as the industry grows.
At the present time, the company expects pro forma revenue of $334 million in 2021. One important aspect of TPCO’s growth is its reach of over 50% of cannabis consumers in California through the e-commerce platform Caliva.com. In March TPCO reported its Q4 and full-year 2020 results. And also filing its acquisition report for qualifying transactions. In detail unaudited consolidated pro forma revenue for Q4 2020 is $40 million. Additionally, full-year 2020 unaudited consolidated pro forma full-year revenue is $189 million. Currently, the company expects pro forma revenue of $334 million in 2021.
GRAMF stock saw a significant decline in March and closed on April 15th at $7.37 down 2.99%. In February GRAMF stock saw a high of $13.96 and looks to k=now be consolidating at current market levels. According to analysts at Market Beat GRAMF stock has a consensus price target of $15.00 per share. In essence, this would be a 103.5% gain from current levels. For this reason, GRAMF stock is a top marijuana stock to add to your watchlist for next week in April.
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Aleafia Health Inc.
Aleafia Health Inc. is a licensed Canadian cannabis company providing cannabis services and products in the country and international markets. Currently, the company operates medical dispensaries, education centers, and production facilities for the cannabis market. With four licensed cannabis production facilities, the company produces a diverse portfolio of high-margin derivative products.
In March Aleafia health reported its 2020 end of the year results and fourth-quarter financials. Impressively, the company saw a 233% increase in quarter-over-quarter cannabis net revenue. In addition, Aleafia was up 501% in the quarter-over-quarter adult-use net revenue. Recently, Aleafia expanded its product portfolio with 30 new SKUs which launched in October. Although the company is showing growth potential its net loss for Q4 and full-year 2020 is $217.3 million and $247.2 million respectively. This is a substantial increase compared to losses of $9.8 million and $39.6 million in the same periods in 2019.
ALEAF stock is up 23.30% year to date with a high of $1.07 in February. Currently, ALEAF stock closed on April 15th at $0.459 and has been declining for the month. According to analysts at Tip Ranks ALEAF stock has a 12-month average price target of $0.64 per share. This is a 42.22% gain from current levels. With this in mind, ALEAF stock could be a marijuana penny stock to add to your watchlist in April.
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