Best Pot Stocks To Invest In For 2021
Are you looking for the best marijuana stocks to buy in July? In 2021 the cannabis sector represents a rapidly growing industry in the US and in the global markets. For instance, as the year began the best cannabis stocks to invest in rallied in the market in the first quarter giving investors that made investments in 2020 significant returns on their cannabis investments.
But since mid-February, most of the cannabis sector has experienced declines in market value for most of the second quarter. After showing a modest turnaround in June the cannabis sector has been trending up also to start July. Currently, for investors, this could be a good time to look for the best marijuana stocks right now to gain exposure to the growing cannabis industry.
But before investing there are some important factors to consider about top pot stocks. For one, cannabis stocks are known for being some of the more volatile stocks in the market. This means before investing it’s important to do your due diligence on a company and study how the stock performs in the market. In 2021 the cannabis sector has had one major catalyst and that’s federal cannabis reform and legalization.
US Cannabis Industry And Top Marijuana Stocks To Watch
After the pandemic, an influx of new investors have entered the market and heavily invested in the fastest growing areas for returns. With many traders entering the market through the popular trading app Robinhood some have used online platforms like Reddit to gain investment ideas. As a result, this gave way to the phenomenon of meme stocks and their effects on the market.
Some cannabis stocks benefitted from this trading frenzy but are now trading much lower in value. Another reason marijuana stocks declined in value is the amount of time it’s taken for cannabis reform in congress. In May more lawmakers have begun to push cannabis reform on Capitol Hill.
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This is giving investors the perception that we could be getting closer to a change in federal cannabis policies. In the market, there are many different ways to take advantage of the future growth in the cannabis market. As it stands the cannabis industry is expected to grow substantially in the next five years. With this in mind, let’s take a look at 3 ways to invest in top marijuana stocks for 2021.
Marijuana Stocks To Watch In 2021
- GrowGeneration Corp. (NASDAQ:GRWG)
- Green Thumb Industries Inc. (OTC:GTBIF)
- Curaleaf Holdings, Inc. (OTC:CURLF)
GrowGeneration Corp.
GrowGeneration Corp. owns and operates retail hydroponic and organic gardening stores in key markets across the US. At the present time, the company has 55 organic garden centers across 12 states and continues expanding rapidly in key cannabis markets. Specifically, GrowGen markets and distributes organics, lighting, and hydroponic equipment to assist in the growing process mainly used by cannabis cultivators. In its first quarter of 2021 financials, GrowGen increased revenue by 173% to $90 million. As a result, the company saw same-store sales grow by 51% year over year. As of now, GrowGen raised its revenue guidance to $450-$470 million and an adjusted EBITDA guidance of $54-$58 million.
Recently, the company launched GrowGeneration.com a newly redesigned e-commerce platform to service cannabis cultivators. The site is considered a one-stop-e-commerce destination with over 10,000 products ranging from nutrients to lighting technology. For the future, GrowGen is expecting to have 60 gardening centers across 15 states by the end of 2021. By 2023 the company is expecting to have over 100 locations operating in the US. GrowGen seems to be outperforming other basic material stocks this year and could be one of the top marijuana stocks on the NASDAQ.
GRWG stock closed on July 9th at $45.82 up 13.92% year to date. In February GRWG stock reached a high of $67.75 and has gained 582.86% in its 1-year performance. According to analysts at CNN Business GRWG stock has a 12-month median price target of $57.50 per share. This forecast would represent an increase of 25.22% from its last trading price. For this reason, GRWG stock could be one of the top marijuana stocks to buy In July.
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Green Thumb Industries Inc.
Another leading vertically integrated US MSO is Green Thumb Industries Inc. The company is one of the top cannabis consumer packaged companies that is establishing a large footprint in the US. Currently, GTI has 58 retail locations across 11 states. Recently the company acquired a Massachusetts cannabis operator Liberty Compassion Inc. After this acquisition GTI has licenses for 103 retail locations for future expansions. Green Thumb delivered first quarter 2021 financials with total revenue of $194.4 million up 89.5% from Q1 of 2020. Also, in Q1 of 2021, the company is reported gross profits of $110.9 million or 57% of revenue. With this GTI is reporting its third consecutive quarter of positive GAAP net income of $10.4 million or $0.05 per basic diluted share.
In Nevada Green Thumb recently opened a Cookies on the Las Vegas Strip through an exclusive partnership with the privately-owned Cookies Brand. GTI announced it would hold its Q2 2021 earnings release on August 11th after the close. So far in the third quarter, Green Thumb has closed the acquisition of Dharma Pharmaceuticals and is entering the Virginia cannabis market. The company continues expanding into key markets and is aligning itself with companies that are popular with younger cannabis users.
GTBIF stock closed at $33.65 up 37.35% year to date. In February GTBIF stock reached a high of $39.11 and has gained 226.86% in its 1-year performance. According to analysts at Tip Ranks GTBIF stock has a 12-month average price target of $49.70 per share. In essence, this would represent an increase of 47.70% from its last trading price of $33.65. With this in mind, GTBIF stock could be one of the best cannabis stocks to add to your list next week.
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Curaleaf Holdings, Inc.
At the present time, one of the leading cannabis companies that have established a footprint in key markets across the US is Curaleaf Holdings, Inc. The company provides packaged cannabis products and has opened its 107th retail location recently in New Jersey. In addition, Curaleaf reported its first-quarter 2021 revenue of $260 million up 170% from the prior year. Specifically, for the second quarter of 2021, Curaleaf announced revenue guidance of $305-$315 million.
Curaleaf announced a recent strategic partnership between Curaleaf’s Select Brand and music and culture authority Rolling Stone. In a new product launch, the two companies are expected to introduce a new line of co-branded Rolling Stone by Select products. In addition, the company continues to expand its footprint in the US and overseas. As it stands, the company is delivering strong Q1 results without the addition of sales from New York and New Jersey. Above all, Curaleaf has affirmed its 2021 full-year guidance for revenue of $1.2 -$1.3 billion.
CURLF stock closed on July 9th at $14.06 up 17.44% year to date. In February CURLF stock reached a high of $18.38 and has gained 139.93% in its 1-year performance. According to analysts at Market Beat CURLF stock has a consensus price target of $23.69 per share. This forecast represents an increase of 68.5% from its last trading price. As it stands, the cannabis sector continues showing an upward trend CURLF stock could be a top marijuana stock to buy in the summer of 2021.
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