Regaining Market Value In The Cannabis Sector
Top marijuana stocks came back strong on February 19th after a week of downward momentum in the market. With most U.S. cannabis companies expecting to report financial results in the coming weeks it could be a catalyst for the sector. At the present time, cannabis stocks have been accumulating gains since the November election. In 2021 most pot stocks have seen substantial upward momentum in the market. As it stands in February most leading marijuana stocks hit new highs on February 10th before dipping lower. In next weeks trading, these pot stocks could continue going higher in the market.
Although many investors have been focusing on Canadian cannabis companies to invest in, U.S. marijuana companies are the best positioned to see gains in the states. In fact, as far as financial performance most U.S. cannabis companies are doing much better than the Canadian marijuana companies. One problem U.S. marijuana companies have is the fact they are not listed on major U.S. stock exchanges. In reality, this has limited their exposure to many new investors using trading apps like Robinhood or Webull.
While the cannabis industry continues to expand across America some U.S. cannabis companies will continue to see revenue growth in the near future. In essence, this could continue giving them gains in the market for this year. For the purpose of finding the best options to invest in for 2021, we can begin to research some top-performing cannabis companies. With this in mind let’s take a look at 3 marijuana stocks that could see gains in the future.
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Marijuana Stocks To Watch:
- Green Thumb Industries Inc. (OTC: GTBIF)
- TerrAscend Corp. (OTC: TRSSF)
- Curaleaf Holdings, Inc. (OTC: CURLF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. is a national cannabis consumer packaged goods company that manufactures and distributes a large portfolio of branded cannabis products. The company is the owner of Rise dispensaries which announced on February 1st that it has opened its 52nd location in Pennsylvania. At the present time, Green Thumb has 13 manufacturing facilities across 12 U.S. markets.
Additionally, Green Thumb holds licenses for 97 retail locations across America. Green Thumb is one of the best-positioned cannabis companies with substantial potential for revenue growth for the next few years. While the company has performed very well in 2020 reporting record revenue 2021 could continue to be a year of rapid growth. On March 17th Green Thumb will deliver its Q4 2020 full-year results after the market close.
GTBIF stock is up 50.08% year-to-date with a high of $39.11 on February 10th. Currently GTBIF stock closed trading on February 19th at $36.77. Recently analysts at TipRanks are giving GTBIF stock a 12-month average price target of $37.59. This average is based on a high forecast of $62.00 and a low forecast of $26.82. GTBIF stock has been one of the top marijuana stocks blue-chip investors are investing in. For this reason, GTBIF stock is an option of a top U.S. marijuana stock to invest in for 2021.
TerrAscend Corp.
TerrAscend Corp. is a North American cannabis operator with operations in Pennsylvania, New Jersey, California and operates as a licensed producer in Canada. At the present time, TerrAscend operates an award-winning chain of Apothecarium dispensaries. In 2020 TerrAscend ‘s 3rd quarter financials show record revenue of $51 million up 90% year over year. Additionally, TerrAscend has given 2021 full-year guidance of $360-$380 million in net sales. In essence, the company continues to show growth potential for 2021 and could continue to see gains in the market.
TRSSF stock is up 51.47% since the start of 2020 with a high of $16.20 on February 10th. Closing the week at $15.22 on February 19th gaining 13.18% for the day. Recently analysts at Stock Invest are expecting TRSSF stock to rise 72.7% during the next 3 months. This analysis is based on TRSSF stock short-term market performance. With this in mind, TRSSF stock could be one of the best U.S. cannabis stocks to invest in for 2021.
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Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. is a U.S. provider of consumer cannabis products and has established a large footprint in the U.S. At the present time, Curaleaf has opened its 97th retail location nationwide. On January 29th Curaleaf opened its first retail location in Pennsylvania. In reality, the company’s entrance into Pennsylvania shows the strategic expansion into key U.S. markets.
With the acquisition of GR Companies Inc. on July 23, 2020 Curaleaf now has nine retail locations to establish in Pennsylvania in 2021. In addition, Curaleaf has also started serving adult-use cannabis consumers in its eight dispensaries in Arizona. Another important expansion to consider is that Curaleaf will open another nine new retail locations in the coming months.
CURLF stock is up 40.75% year-to-date with a high of $18.38 on February 10th. Currently CURLF stock closed trading on February 19th at $16.85% up 3.88% for the day. According to analysts at MarketBeat CURLF stock has a consensus price target of $21.00. In essence, this would be a 29.5% gain from current levels. For this reason, CURL stock is a top pot stock to possibly invest in for 2021.
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