Marijuana Stocks In February 2021
Heading into February 2021 most marijuana stocks took some losses in the market. In general, the entire stock market saw downward momentum in trading the last week of January in 2021. Actually, this could be an opportunity for investors wanting to invest in cannabis stocks to gain entry at lower price points.
In fact, the current market value for top cannabis stocks like Harvest Health & Recreation Inc. (OTC: HRVSF) peaked on January 25th at $3.68 per share before closing the week at $2.99. At the present time, Harvest Health is well-positioned to take advantage of the cannabis industry growth in Arizona. As February trading begins market sentiment seems to be better than it was last week. At the present time, the futures market is showing signs of life for the major indexes.
In reality, this could translate into higher market value for some of the best cannabis stocks to invest in. With recent predictions, analysts believe the cannabis industry will grow substantially in the next couple of years. This is partly due to U.S. expansion on the state level and the possibility of federal reform in 2021. As legislation passed in the House and is now waiting on a Democratic-led Senate to vote things could change rather quickly for the U.S. cannabis market.
Cannabis Industry Growth In New Markets
Although in 2020 the cannabis market began to show massive growth in key markets. In 2021 most marijuana companies are expected to continue the expansion of their footprints in new areas of the cannabis industry. As top cannabis companies execute new mergers and acquisitions this consolidation will give rise to the largest marijuana companies in the U.S. At the present time, these cannabis companies have already been performing well in 2020. In essence, they have been reporting record revenue in their latest financials and expanding their presence in the U.S. market.
Actually, in January these marijuana stocks were trading much higher until market sentiment turned to soar in the last week of trading in January 2021. But if investor confidence returns in February, we may see these cannabis stocks regain some of the value lost in January. For the purpose of finding the best pot stocks to watch in February 2021 let’s take a look at 2 cannabis stocks with potential gains this month.
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- Top Marijuana Stocks To Watch For Long-Term Investing in 2021
- 2 Cannabis Stocks To Watch That May Offer Investors More Value
Marijuana Stocks To Watch:
- Cresco Labs Inc. (OTC: CRLBF)
- Curaleaf Holdings, Inc. (OTC: CURLF)
Cresco Labs Inc.
Cresco Labs Inc. is one of the largest vertically integrated cannabis companies in the U.S. In detail, the company has a consumer packaged approach and is one of the largest sellers of branded cannabis products. At the present time, Cresco has 20 operational dispensaries across 9 states with 15 production facilities. In 2021 Cresco has made some changes to leadership announcing on January 19th it hired PepsiCo veteran Ty Gent. Gent will become the companies new Chief Operating Officer and be responsible for operational consistency and efficiency. Also, on January 28th Cresco expanded its brand portfolio to include 1.0 g and 0.5 mg live cartridges available in California and Illinois.
Another expansion Cresco has made recently was its entry into the Florida market. On January 14th Cresco announced the acquisition of Bluma Wellness Inc. a vertically integrated operator in Florida. With its entry into Florida Cresco now has a meaningful presence in 7 of the 10 most populated states with a cannabis market. In essence, this gives Cresco a larger presence in the U.S. cannabis industry.
CRLBF stock is up 19.51% year-to-date and has a 52-week high of $14.38 established in January of 2021. Currently, CRLBF stock closed trading on January 29th at $11.79 and could see gains this week. At the present time, analysts at Tip Ranks are giving CRLBF stock a 12-month price target of $16 per share. In reality, this would be a 35.71% gain from current levels in the market. With this in mind, CLRBF stock is a top marijuana stock to watch for gains in February 2021.
[Read More] Are These The Best Marijuana Stocks To Buy Under $2? 2 Pot Stocks To Watch For February 2021
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. is a leading U.S. provider of consumer cannabis products and has one of the largest footprints in America. Currently, Curaleaf opened its 97th retail location nationwide. In detail, Curaleaf opened its first retail location in the Pennsylvania market on January 29th. The company’s entrance into Pennsylvania shows the companies strategic expansion into key cannabis markets. Actually, Curaleaf closed the acquisition of GR Companies Inc. on July 23, 2020, and has nine retail locations to establish in 2021.
Additionally, Curaleaf has also begun serving adult-use consumers across its eight dispensaries in Arizona. In the states, Curaleaf will create 120 new jobs for the surrounding communities for the new recreational market in the state. Another important factor to consider is the fact that Curaleaf will open another nine new retail locations in the coming months.
CURLF stock is up 11.10% since the start of 2021 with a 52-week high of $16.69 in mid-January 2021. Currently CURLF stock closed trading on January 29th at $13.30 just above its 2021 starting price. At the present time, analysts at MarketBeat are giving CURLF stock a consensus price target of $21.00 per share. Actually, this would be a 57.9% gain from current market levels. For this reason, CURLF stock is one of the best marijuana stocks to watch in February 2021.
[Read More] 2 Marijuana Stocks With Potential For February 2021
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