Marijuana Stocks See Significant Gains In January
As we head into the last trading week of January top marijuana stocks could have another breakout week in the market. In reality, most cannabis stocks have delivered substantial gains since the start of 2021. Currently, investors are looking for the best pot stocks to invest in right now. But with the market reaching new highs and marijuana stocks trading near their highest valuations, is now the time to start a position? Although there could be an opportunity to invest in the cannabis industry at lower entry points, many analysts predict top pot stocks could continue gaining momentum.
At the present time, analysts are predicting the U.S cannabis market could see sales of $24 billion in 2021. Considering last year’s estimates are between $15-$16 billion in 2020 substantial growth in the U.S. is expected for this year. In essence, this could stimulate revenue growth for the best marijuana companies in the U.S. Most have already shown strong revenue growth in 2020 if this continues into 2021 top marijuana stocks could potentially continue building momentum. As new markets emerge like the recreational market in Arizona and New Jersey the best-positioned cannabis companies will wreak the benefits.
Currently, these cannabis stocks could continue to perform in the market adding to the substantial gains the cannabis sector has experienced since the presidential election. With this in mind, finding the right pot stocks to add to your portfolio could potentially add value for the future. For the purpose of shedding light on some of the better performing cannabis stocks let’s look at 2 cannabis stocks to watch next week.
Marijuana Stocks To Watch:
Jushi Holdings Inc.
Jushi Holdings Inc. is a vertically integrated, multi-state cannabis operator in the U.S. The company is focusing on building a multi-state portfolio of branded cannabis assets. Currently, Jushi operates 16 retail locations in the U.S recently opening its 4th location in Illinois. The company performed well in 2020 with Q3 revenue of $24.9 million up 67% sequentially. Already in January Jushi has expanded its retail footprint into California. Actually, making its presence in these high growth key markets could increase the company’s revenue growth this year.
Actually, Jushi’s national brand of cannabis dispensaries named Beyond/ Hello is focused on building the best customer and patient experience both online and in the stores. In addition, Jushi’s branded products have award-winning genetics and cultivation with unparalleled quality and value. Some of Jushi’s more popular brands are The Bank, The Lab, Tasteology, and Nira. In reality, Jushi is growing rapidly and could become one of the future leaders in the U.S. cannabis industry.
JUSHF stock is up 13% so far in January 2021 and closed last week’s trading at its 52-week high of $6.85 per share. Since the presidential election JUSHF stock has been gaining positive momentum that has carried over into January. As Jushi continues to expand its footprint look for JUSHF stock benefit from revenue growth from these new locations. At the present time, analysts at Stock Invest are giving JUSHF stock an upside of 140.51% in the next 90 days. Because Jushi is entering new markets and establishing its presence rather quickly the possibility of future growth increases. With this in mind, JUSHF stock is a top pot stock to watch heading into next week’s trading session.
TerrAscend Corp. provides quality products, brands, and services to the global cannabinoid market. As the first North American Operator with operations in both Canada and the US, the company is well established. Also having a presence in Europe, the company operates The Apothecarium dispensaries which has 8 locations across the U.S. Recently TerrAscend received a permit to dispense medical cannabis at its first New Jersey location. Earlier in January, the company completed the second phase of construction at its cultivation and manufacturing facility in New Jersey.
In 2020 TerrAcend was one of the top-performing cannabis companies that produced record revenue in Q3 2020 of $51 million. In fact, this would be an increase of 90% from the year prior. Additionally, TerrAscend has also given 2021 full-year guidance with net sales of $360-$380 million. This would mean the company is on pace to almost double its net sales of $196 million in 2020. As TerrAscend establishes its footprint in new key markets like New Jersey and continues growth in California it could have a strong financial result to start 2021.
TRSSF stock is up 36.12% to begin 2021 with a 52-week high of $14.90 in January of this year. The stock has almost doubled since November providing investors a substantial return on investment since that time. According to analysts at Stock Invest TRSSF stock could rise 91.64% in the next 3 months of trading. With this in mind, TRSSF stock is one of the best cannabis stocks to watch in next week’s trading.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | email@example.com