Cannabis Sector And 2021 Market Performance
Marijuana stocks could be one of the better-performing sectors in the markets for 2021. Since mid-2020 the cannabis sector has managed to see substantial gains in the market. In addition, through the pandemic, the cannabis industry showed extreme resilience to the economic downturn and began expanding rapidly throughout the U.S. and Canada. Now in 2021 American cannabis stocks have continued to see gains in the market. Most cannabis companies are also reporting strong earnings and substantial revenue growth for 2020.
A recent downturn in the market brought most cannabis stocks to a potentially better buying level. With the cannabis sector recovering slower than the rest of the market at the current moment, it could be time to add some cannabis stocks to your watchlist. One area that has delivered significant gains is the lower-priced marijuana stocks. In 2021 some have gained triple-digit percentage gains in the market.
With the cannabis sector attempting to regain some of the previous market value it saw in February this could be an area with future gains in the market. Currently, lower price points for leading marijuana stocks make it an opportune time to focus on the sector. Actually, some of these cannabis stocks are in a trading area where they might deliver short-term gains for investors. It’s important for investors to do research on any cannabis company before investing. Doing your due diligence on a company can help you feel more comfortable with the companies you’re investing in.
Understanding The Top Marijuana Stocks
When it comes to investing in the cannabis sector there are a few important factors to keep in mind. For one the marijuana sector is known for extreme market volatility. In essence, this means large price fluctuations that make it difficult for long-term investors. Currently, many investors prefer to day trade and swing trade marijuana stocks. But whatever your trading style there is an opportunity for gains in the cannabis sector.
For the purpose of finding 2 possible marijuana penny stocks to watch we can begin to research. At the present moment, the cannabis sector seems to be showing some upward momentum. While marijuana companies in the U.S. report full-year 2020 results, here are 2 cannabis stocks to add to your March watchlist.
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Marijuana Stocks To Watch:
Acreage Holdings, Inc.
Acreage Holdings, Inc. is a multi-state operator of cannabis with cultivation and retail locations across the U.S. The companies national store brand The Botanist carries a large range of regional and national cannabis products. Acreage also owns Universal Hemp LLC a hemp subsidiary dedicated to sales of CBD products in the U.S. Additionally Acreage also has an agreement with Canopy Growth Corporation (NASDAQ: CGC) of a possible acquisition once U.S. federal policy is changed.
On March 9th the company reported Q4 and full-year 2020 results. In detail in Q4 revenue was $31.5 million up 50% compared to the same period the year prior. Additionally, full-year 2020 revenue was $114.5 million rising by 55% from the previous year. Also, the company saw same-store sales growth up 71% during Q4. But one eye soar the cannabis company has is a net loss of $36.9 million in Q4.
ACRHF stock is up 112.90% year-to-date with a high of $9.00 in February. Currently closing at $6.50 on March 11th the stock has gained some value in March. According to analysts at Stock Invest ACRHF stock could rise 82.83% during the next 3 months. With this in mind, ACRHF stock is a top marijuana stock to add to your 2021 watchlist.
Vireo Health International, Inc.
Vireo Health International, Inc. is a physician-led science-focused cannabis company that brings the best technology and science to the market. At the present time, the company has a network of retail locations and 3rd party dispensaries to distribute its products. Currently, Vireo operates 16 dispensaries nationwide and holds additional licenses for future expansion. Additionally, the company has its presence in 5 states and additional licenses for future expansion into four new markets.
In February the company completed expansion projects in Maryland and opened its first dispensary in the state. Also, the company completed an expansion of its Arizona cannabis cultivation facility. This will help Vireo increase cannabis production in Arizona as the adult recreational market launches in the state. With demand rising this should position the company for growth in key markets.
VREOF stock is up 88.30% year to date with a high of $3.84 in February. Currently, the VREOF stocks closed trading on March 11th at $2.91. The stock is down 13.43% in the last 2 weeks and could be primed for a comeback. According to analysts at Stock Invest VREOF stock could rise by 164.17% during the next 3 months. For this reason, VREF stock is a top marijuana stock to watch for gains in March.
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