Best Ways to Invest In Marijuana Stocks
At the present time, there are many investors looking for the best way to invest in marijuana stocks in 2021. In reality, the growing cannabis industry represents one of the fastest-growing markets for the next few years. In the US many states like New York continue to legalize cannabis on the state level. Essentially this keeps expanding the market adding more states for the cannabis market to see sales growth.
On a larger scale, cannabis reform continues to be a topic of interest for leading lawmakers on Capitol Hill. As this continues to be a possibility more investors are looking towards the cannabis sector for market gains. Since the beginning of 2021, most of the marijuana stocks have climbed significantly in the market. This can be seen across a variety of sectors and different areas of the cannabis market.
For instance, many vertically integrated cannabis companies in the US have experienced gains in 2021. Most have also taken part in substantial expansions across the US to gain their part of the market share. Now that March has taken a significant toll on the market value of most top marijuana stocks to buy, they could be ready to rebound.
Significant Gains For Pot Stocks In 2021
Another area that has gained significantly to start 2021 is marijuana penny stocks to invest in. Some of these pot stocks have seen triple-digit percentage gains this year. Although they have recently fallen in stock price, they could see another rally with any announcement of U.S. Federal cannabis reform.
Currently, it seems cannabis legalization is a driving force for the cannabis sector at the moment. Although many cannabis companies are reporting better than expected earnings in March this did not have a positive impact on marijuana stocks in the market.
For the purpose of finding options in the cannabis sector on top marijuana stocks to buy in April, we can begin doing research. Many top analysts believe the cannabis market will continue to grow for the next few years. This growth could continue to create upward momentum for top cannabis stocks in 2021. With this in mind let’s take a look at 2 marijuana stocks to add to your watchlist in April.
- The Biden Administration Is Not Making Federal Cannabis Reform A Priority
- Best Marijuana Stocks To Buy Right Now? 2 Cannabis Stocks To Watch This Month
Marijuana Stocks To Watch:
Harvest Health & Recreation Inc.
Harvest Health & Recreation Inc. Is a leading vertically integrated cannabis company headquartered in Arizona with a large presence in its home state. Currently, the company operates 15 retail locations in Arizona with a total of 37 stores nationwide. As the adult recreational cannabis market begins to see sales this year in Arizona Harvest could see substantial revenue growth. By current analysts estimates cannabis sales in Arizona could double in 2021 with recreational sales.
In March Harvest released its Q4 and full-year 2020 financial results. Specifically, total revenue was up 98% the $231.5 million versus $116.8 million in 2019. Also, in Q4 revenue was $69.9 million up 85% from the same period in 2019. Harvest also gave a 2021 revenue target of $380 million and a first-quarter 2021 revenue target of $87 million. Currently, the company is focusing on reaching profitability and expects gross margins to continue to trend upward.
HRVSF stock is up 40.38% year to date with a high of $4.50 in February. On April 6th HRVSF stock is heading into the close at $2.9873 down 1.41% for the day. According to analysts at Tip Ranks HRVSF stock has a 12-month average price target of $5.76 per share. This would be a 93.52% gain from current levels. For this reason, HRVSF stock is a top U.S. marijuana stock to add to your watchlist in April.
MediPharm Labs Corp.
MediPharm Labs Corp. is a producer of purified, pharmaceutical quality cannabis oil, concentrates, and advanced derivative products. At the present time, the company has a wholesale and white label distribution platform that distributes cannabinoid-based products both domestically and internationally. On March 31st MediPharms announced its fourth quarter and 2020 full-year results. In detail, the company saw Q4 revenue of $6.1 million up 22% compared to $4.9 million in Q3 2020. Additionally, revenue from the companies formulated finished products increased 64% sequentially in which MediPharm Labs finished products increased about 8%.
Also, a factor MediPharms has established 30 plus agreements with customers in eight countries. The company has established a large European pharmaceutical platform and portfolio and anticipates heightened customer demand in 2021. Today on April 6th the company announced it has achieved an export milestone and ships cannabis oil from Australia to Germany. This will strengthen MediPharm’s global position as a leader in medical cannabis production.
MEDIF stock is down 8.41% year to date with a high of $0.785 in February. Closing on April 6th at $0.3823 the stock is up 2.082% for the day. According to analysts at Market Beat MEDIF stock has a consensus price target of $1.38 per share. This would be a 267.2% upside from current levels. With this in mind, MEDIF stock could be one of the best cannabis stocks to buy in April 2021.
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