Top Marijuana Stocks To Watch This Week
In general, this is a very important week for the best marijuana stocks to invest in. As some of the top US cannabis companies like Curaleaf Holdings, Inc. (OTC: CURLF) report its first-quarter 2021 financials today, investors are watching closely. In the past few months, many leading cannabis stocks have suffered a steep decline in market value that has brought most trading closer to 2020 stock prices.
Last week it began to seem like top pot stocks started showing some upward momentum. For new investors looking to start a position in the top marijuana stocks to buy in May, it could be a good time to find cannabis stocks for your watchlist. At the present time, there are many leading cannabis companies showing strong revenue gains in 2020. In addition, these companies have also given 2021 guidance that predicts significant revenue growth for this year.
In many aspects, this could be a good time to find the best opportunities in top pot stocks right now. As it stands investing in the top 5 US cannabis stocks could deliver significant gains but most like Cresco Labs Inc. (OTC: CRLBF) is already trading above the $10 share price. But in 2021 more marijuana stocks trading at lower market values have delivered strong returns so far this year.
Finding Value In Top Pot Stocks In 2021
Generally speaking, marijuana stocks trading under the $5.00 mark have shown the most upward momentum this year. As the cannabis industry continues to grow across the US these smaller companies can grow rapidly, and some can become industry leaders in the future. Many changes continue to happen in the cannabis sector one method the top companies are using to expand is M&As. Through these mergers and acquisitions, cannabis companies have been establishing a larger footprint and are quickly expanding into new markets.
For the purpose of researching some of these cannabis stocks for your watchlist the second week in May, we can take a deeper look. At the moment these cannabis stocks could produce some gains for traders from current levels. As cannabis companies deliver financials this could become a catalyst for the marijuana sector this week. With this in mind, let’s take a look at 2 marijuana stocks to watch for May 2021.
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Marijuana Stocks To Watch:
Jushi Holdings Inc.
One company that’s working hard to become a top US MSO is Jushi Holdings Inc. In May the company has completed the acquisition of two California dispensaries and closed another acquisition of Dalitso LLC Facility establishing a strong footprint in Virginia. At the present time, Jushi has 30 retail licenses nationwide. In April Jushi announced certain unaudited 2020 Q4 and full results. In detail in Q4 2020 revenue increased 30% sequentially to $32.3 million. Additionally, gross profits increased 44% sequentially to $17.6 million.
Now with three dispensaries in California Jushi is targeting areas with limited license opportunities to strategically build their footprint. Last month the company also acquired Ohio Green Grow LLC one of the 34 licensed cultivators in Ohio. This transaction is expected to be completed in Q3 of 2021. In Massachusetts Jushi also acquired two retail dispensaries and a cultivation and product manufacturing facility.
JUSHF stock is up 13.03% year to date closing on May 7th at $.6.62 per share. With a high of $9.06 in February, JUSHF stocks have increased 644.31% in their 1-year performance. According to analysts at Tip Ranks JUSHF stock has a 12-month average price target of $10.07 per share. This represents a 52.06% increase from current levels. For this reason, JUSHF stock is a top US marijuana stock to add to your watchlist in May.
Lowell Farms Inc.
Previously named Indus Holdings, Lowell Farms Inc, completed the corporate name change in March after the acquisition of Lowell Farms. In general Lowell, Farms is a California-based cannabis company with advanced production capabilities that grows artisan craft cannabis and has a portfolio of award-winning licensed brands. In April Lowell announced a strategic licensing agreement with Ascend Wellness Holdings. Particularly, the two companies will bring the Lowell Smokes brand to dispensary locations in Massachusetts and Illinois. Essentially bringing these California brands out of the west coast for the first time.
On May 4th Lowell Farms released its first-quarter 2021 financials with Q1 revenue of $11 million an increase of 17% from Q1 2020. Subsequently, the company operated at a loss of $5.7 million in this period compared to a loss of $7.1 million in Q1 of 2020. The company is focusing on driving sustainable profitable growth with a priority on its cultivation and operating efficiency.
LOWLF stock is up 19.87% year to date with a high of $2.149 in February. Trading on May 10th at $1.40 during the first 30 minutes of the session the stock is up 5.12% in the last month. According to analysts at Wallet Investor LOWLF stock has a 1-year price forecast of $2.371 per share. In essence, this would represent a 69.357% increase from current levels. Currently, Lowell Farms is a California brand that is establishing itself to the entire US cannabis market. With this in mind, LOWLF stock is a cannabis stock to add to your watchlist trading under $2.00.
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