Investing In Cannabis Stocks In This Downturn In Trading
In March most of the best marijuana stocks to invest in have shed significant market value. Although leading up to this month many cannabis companies have reported strong financial results for 2020 the cannabis sector has seen a downturn in value. Hit hard by recent investor concerns about the pandemic resurgence in Germany, top pot stocks could hold future growth potential.
For investors looking to start a position in the cannabis market, this could be a good time to find leading cannabis stocks for your watchlist. At the present time, many analysts are predicting the cannabis sector could see substantial gains for 2021. In reality, due to this current market trend, many leading marijuana stocks are trading much lower in the market. Even though cannabis companies are reporting strong financials, selling pressure is bringing pot stocks lower.
In the event that recent highs in February are levels, the cannabis sector could reach this year with federal reform this area could deliver significant gains in the future. Before investing in any cannabis stock, it is always recommended you do your own due diligence into a company. Also watching how a pot stock performs in the market can give you a better chance of finding the best entry point. As market sentiment improves so do the chances the cannabis sector will resume its climb in the market.
Are Pot Stocks Worth The Risk?
Marijuana stocks are known for being a high-risk, high-reward area of the market. If there are one thing pot stocks are known for their market volatility. Many investors that day trade or swing trade thrive in this type of environment. This is because the price fluctuations give them the ability to see short-term gains in the market in both directions. Some top cannabis stocks have recently seen substantial gains in 2020 and heading into this year.
A good example of this is Harvest Health & Recreation Inc. (OTC: HRVSF). Specifically, HRVSF stock was up triple-digit percentage gains at its February high. Although the stock has since pulled back it’s possible it could see a spark from its earnings announcement on March 30th. Other cannabis companies have also established their presence in key growth markets for the cannabis industry. For the purpose of finding some of the best marijuana stocks to watch heading into April, we research 2 top cannabis stocks right now.
Read More
- 2 Marijuana Stocks To Watch As April Approaches
- Are These The Top Marijuana Stocks To Watch And Invest In? 2 With Strong Financials
Marijuana Stocks To Watch:
- Jushi Holdings Inc. (OTC: JUSHF)
- Columbia Care Inc. (OTC: CCHWF)
Jushi Holdings Inc.
One cannabis company that has grown rapidly in the U.S. is Jushi Holdings Inc. The company is a cannabis company that’s building a multi-state portfolio of cannabis products and dispensaries. Operating 16 cannabis dispensaries across the U.S the company continues making acquisitions for its expansion. In January the company announced it acquired 100% interest in Agape Total Health Care Inc a Pennsylvania dispensary. Specifically, Agape has one open retail location with plans to open another two stores in Philadelphia and Pottsville.
Upon completion, Jushi will have 10 dispensaries in Pennsylvania 8 carrying the BEYOND/HELLO brand. Another important factor is Jushi now has the right to open 16 new dispensaries throughout the state with 10 to 12 planned for 2021. Last year in 2020 Jushi showed strong financial results that that showed a Q3 revenue increase of 67% sequentially to $24.9 million. Also, the company increased its revenue guidance for Q4 of 2020 to $28-$30 million. Jushi announces it expects full 2021 revenue guidance of $205-$255 million.
JUSHF stock is up 11% year to date with a high of $9.06 in February. At the present time, JUSHF stock is trading at $6.66 per share on March 24th down 2.63% for the day. According to analysts at Stock Invest JUSHF stock is expected to rise 22.14% during the next 3 months. With this in mind, JUSHF stock is a U.S. cannabis stock to watch going into April.
[Read More] Will These Marijuana Stocks Make Investors Money?
Columbia Care Inc
Another prospective U.S. cannabis company is Columbia Care Inc. As one of the largest vertically integrated cultivators, manufacturers, and providers of cannabis products the company has a large presence in the U.S. market. Currently holding licenses in 17 US states and the EU. Columbia Care operates 107 facilities including 80 dispensaries and 27 cultivation and manufacturing facilities. In fact, the company is one of the original providers of medical cannabis in the U.S.
On March 16th Columbia Care reported record Q4 and full-year 2020 results. In-depth the company saw a record Q4 combined revenue of $81.8 million up 51% quarter over quarter. In addition, full-year 2020 combined revenue was up 151% to $197.9 million. In many instances, Columbia Care has outperformed its 2020 full-year outlook and continues to grow. Also, the company has reaffirmed its 2021 combined revenue and profitability guidance.
CCHWF stock is up 4.96% year to date with a high of $7.89 in February. Currently heading into the close on March 24th at $6.25 the stock is down 1.34% for the day. According to analysts at Tip Ranks CCHWF stock has a 12-month average price target of $10.35. In essence, this would be a 69.67% gain from current levels. For this reason, CCHWF stock is a top marijuana stock to watch as March closes.
[Read More] Top Marijuana Stocks To Watch Before April
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