Cannabis Stocks And 2021 Gains In The Market
As it stands in February most marijuana stocks have continued to produce gains for investors. Since reaching new highs in the market last week cannabis stocks have lost some share value. Actually, top pot stocks in the Canadian sector like Sundial Growers Inc. (NASDAQ: SNDL) loss 21.46% in trading on February 17th. Most Canadian cannabis stocks showed a similar market trend shedding some of the value accumulated before February 10th. As most cannabis stocks trade lower in the market, it could be time for investors looking for entry into the cannabis sector to find the best positions.
In 2021 many things are working for the cannabis industry in the U.S on the state level more legalization is occurring. Recently top legislators have said they would back cannabis reform and decriminalization. In reality, this would be a major step forward in the United States and could stimulate market growth even further. On a global scale, countries like Mexico could pass legalization bills that would allow recreational marijuana there. Currently, many analysts believe the next five years will see rapid growth for the cannabis industry. In fact, many analysts predict global cannabis sales of $47 billion by 2025.
In reality, this would mean substantial growth in a short period for the cannabis market. At the present time, there are many cannabis companies that are well-positioned to see revenue growth. In 2020 most cannabis companies expanded rapidly staking claim to their piece of the market share. While top pot stocks trade lower in recent sessions it could be time to add them to your February watchlist.
Picking The Marijuana Stocks With The Most Potential
Seeing that marijuana stocks could have substantial gains for investors picking the ones with the most value is important. Investors should research a company before starting a position, so they have a better understanding of the company. One way to do this is to look at the cannabis company’s financial results and expansion plans going forward. In essence, this could give you a better understanding of the growth potential the cannabis company has for the future.
At the present time, there are a few things that are affecting marijuana stocks in the market. For one with rapid gains in the market to start 2021 most top marijuana stocks have become more susceptible to market swings. After reaching new highs in the market most leading cannabis stocks saw a sharp pullback the next day. For the purpose of finding the best cannabis stocks to buy in February let’s take a look at 2 top marijuana stocks with growth potential for 2021.
- Which Of These 2 Cannabis Stocks Is A Better Investment?
- Are These Marijuana Stocks To Buy Worth Being In Your Portfolio?
Marijuana Stocks To Watch:
Jushi Holdings Inc.
Jushi Holdings Inc. is a vertically integrated cannabis company building a multi-state portfolio of cannabis products and dispensaries. Currently, Jushi operates 16 cannabis dispensaries across the states. In January the company announced it acquired 100% interest in Agape Total Health Care Inc a Pennsylvania dispensary. In detail, Agape has one operational retail location with plans to open another two stores in Philadelphia and Pottsville. Once complete, this will bring Jushi up to 10 dispensaries in Pennsylvania 8 carrying the BEYOND/HELLO brand. Also, this addition gives Jushi the right to open 16 new dispensaries throughout the state with 10 to 12 planned for 2021.
In 2020 Jushi showed strong financial results that have translated to gains in the market. In detail, in Jushi’s Q3 2020 financials the company is showing a revenue increase of 67% sequentially to $24.9 million. Additionally, the company also increased its revenue guidance for Q4 of 2020 to $28-$30 million. In Q1 of 2021, Jushi is expecting revenue of $37-$40 million and gave full 2021 revenue guidance of $205-$255 million.
JUSHF stock is up 31.2% year-to-date with a new high of $9.06 in February 2021. Currently, JUSHF stocks closed trading on February 17th at $7.86 losing 2.64%. As Jushi continues to expand its footprint in key markets it could have market potential. Recently, analysts at Stock Invest are predicting JUSHF stock to rise 143.15% in the next 3 months. This analysis is based on the stocks short term trends in the market. With this in mind, JUSHF stock is a top U.S. marijuana stock to add to your watchlist in February.
Columbia Care Inc.
Columbia Care Inc. is one of the largest vertically integrated cultivators, manufacturers, and providers of cannabis products in the U.S. At the present time, the company has licenses in 18 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.
In 2020 Columbia Care delivered record Q3 combined revenue of $54 million an increase of 64% sequentially and 145% up from Q3 2019. Additionally, in the announcement the CEO of Columbia Care said,” “Our growth strategy and operational discipline resulted in Columbia Care generating another quarter of record results.” Generally speaking, the company is one of the fastest-growing cannabis companies in the U.S. with one of the largest footprints.
CCHWF stock is up 13.72% since the start of 2021 with a new high of $7.89 in February. Since then, CCHWF stock has pulled back and is closed at $6.88 on February 17th. At the present time, analysts at TipRanks are giving CCHWF stock a 12-month average price target of $9.64. In essence, this would be a 40.12% gain from current levels. For this reason, CCHWF stock is a top cannabis stock to watch in February of 2021.
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