Marijuana Stocks In The Stock Market The Last Week Of 2020
The last week of trading is arriving for 2020 and marijuana stocks have made most cannabis investors a substantial return on investment. In fact, many U.S. cannabis stocks to buy have been performing well in the market in the last two months. Traditionally the market usually has a decent last week of the year and could continue to boost pot stocks to buy upward. Provided that no market-changing events happen this week we could see solid gains in the stock market. At the present time, 27 American cannabis companies are reporting revenue of more than $12.5 million a quarter. In general, this metric shows the increasing potential of marijuana companies to produce revenue growth even in tough economic climates. While 2020 had its share of market volatility and unstable economic conditions things could become more stable in 2021.
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As it stands the U.S. cannabis industry is one of the fastest-growing cannabis markets at the present time. While cannabis laws in America change to benefit market growth the industry has the potential to double in sales revenue in the next four to five years. So, this has investors looking for the best marijuana stocks to buy for 2021. Currently., with so many pot stocks making headway for investors and the top U.S. cannabis stocks reaching all-time highs starting a position in a cannabis stock at the moment commands some research. As pot stocks increase in market value the probability that they could display more volatility in the future increases.
How Will Marijuana Stocks Perform Better In 2021?
Historically marijuana stocks have been susceptible to rather extreme market fluctuations. Although recently that has not been the case seasoned investors keep this variable in mind as things progress in the market. But as 2021 looks to have growth potential for the cannabis industry current 2020 prices could be the start of a new base for top pot stocks to continue upward from. Finding companies with future momentum can be a good addition to your 2021 stock market watchlist. With this in mind let’s look at 3 marijuana stocks that could have a positive impact on your investment portfolio.
Marijuana Stock To Watch #1: Cresco Labs Inc.
Cresco Labs Inc. (CRLBF Stock Report) is one of the largest vertically integrated, multi-state cannabis operators in the United States. The company has 10 operating dispensaries in Illinois and another 10 across five other states. Currently, the company continues to perform well due to the strategic placement of its retail locations in vibrant retail spaces. Recently, Cresco was given three awards from the 2020 Clio Cannabis Awards a premier international competition. Additionally, Cresco is reporting record Q3 financials with record revenue of $153.3 million a 63% increase quarter over quarter. In fact, this marks the companies third consecutive quarter with over 40% revenue growth. In the future, Cresco plans to apply its same playbook to other states to increase further growth potential.
CRLBF stock has a 52-week high of $10.78 on December 4th and will open Monday’s trading around the $10 mark. Currently, the stock is up over 46% year-to-date and has the potential for more upward momentum. At the current time, Cresco is considered to be one of the top-performing U.S. cannabis companies. Because of this CRLBF stock is a marijuana stock to add to your watchlist for next week.
Marijuana Stock To Watch #2: TerrAscend Corp.
TerrAscend Corp. (TRSSF Stock Report) is a leading North American cannabis operator with operations in Pennsylvania, New Jersey, and California and operates as a licensed producer in Canada. The company operates the award-winning Apothecarium dispensaries as well as having the best-in-class cultivation and manufacturing practices. Recently TerrAscend announced it made a loan financing agreement with Canopy Growth Corp (CGC Stock Report). In detail Arise Bioscience a wholly-owned subsidiary of TerrAscend will get $20 million for over 2 million common share purchase warrants of TRSSF stock. Actually, this marks the 3rd time Canopy has invested in TerrAscend since 2017. Recently the company announced Q3 net sales of $51 million and an increase of 90% year over year. In addition, the TerrAscend increased its 2020 full-year guidance to $196 million. And the company has initiated its 2021 full-year guidance at $360-$380 million in net sales.
TRSSF Stock has a 52-week high of $10.91 and is currently up over 347% year-to-date. The stock has been showing upward momentum since mid-year and has substantial growth potential for 2021. As TerrAscend continues expanding its footprint in the U.S. its revenue growth could translate into gains in the market. With this in mind, TRSSF stock is one of the best marijuana stocks to watch going into the last week of 2020.
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