Gains In The Cannabis Market
As market sentiment improves so does the value in the marijuana sector. In March investors are looking for the best marijuana stocks to invest in for profits. Already in 2021, we have seen top pot stocks make substantial gains in the market. But will they continue to climb in value? Some analysts believe many of the top cannabis stocks to buy are currently overvalued.
But growth in the U.S. cannabis market has continued to expand at a rapid pace since the advent of the pandemic. In addition, many U.S. cannabis companies have been reporting strong earnings and in March many companies are expected to release Q4 and full-year 2020 results. While leading marijuana stocks regain some of the market value they shed after reaching new highs in February.
It could be a good time to research some pot stocks that could see substantial gains in 2021. Currently, many cannabis companies have grown by way of acquisitions and mergers that are bringing quick access to new key markets. In many cases, this could increase revenue growth for the coming years for these companies. In 2020 most companies saw substantial revenue growth, and this could boost the sector this month.
Investing In The Cannabis Industry
Before investing in any cannabis stock, it is always recommended you do your own due diligence into a company. It’s important to research a company thoroughly and look into its financials and balance sheets to see how it is performing. Currently, the cannabis sector has been delivering gains in the short term and long term.
If you look back at marijuana stocks in March of 2020, as whole cannabis stocks have gained massive value. In general, this could be a time of heightened market volatility for marijuana stocks. In particular, many short-term investors thrive during this type of market action. Looking back to highs in February there are a few events that could propel the cannabis sector.
For one the passing of another stimulus package could have a big impact on the market. In addition, further federal reform for cannabis in 2021 could be an enormous catalyst for top marijuana stocks. For the purpose of looking into the marijuana stocks to add to your watchlist, we can research some leading companies. Let’s take a closer look at 2 of the top cannabis stocks to watch this week in March.
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- Best Marijuana Stocks To Buy Right Now? 2 Pot Stocks With Potential Gains
Marijuana Stocks To Watch:
- Ayr Wellness Inc. (OTC: AYRWF)
- Jushi Holdings Inc. (OTC: JUSHF)
Ayr Wellness Inc.
Ayr Wellness Inc. is a U.S. multi-state cannabis operator, focusing on delivering the highest quality cannabis products and customer experience. Currently, the company is focusing on superior cultivation to grow superior branded cannabis products. Ayr has been growing rapidly in 2020 and to start the 1st quarter in 2021. On March 1st the company announced the opening of its third Las Vegas location under The Dispensary NV banner. This marks Ayr’s fourth location under the NV banner and 6th location in Nevada. The company also recently closed on the acquisition of Florida cannabis company Liberty Health Sciences Inc. (OTC: LHSIF). In detail this agreement includes 28 retail locations, 7 completed and ready to open, and 7 other locations under construction in Florida.
At the present time, Ayr has 44 open dispensaries and has much more openings planned for 2021. This month Ayr will release its Q4 and full-year 2020 results on March 11th. This could be a catalyst for the stock pending a strong report. Ayr has been one of the fastest-growing cannabis companies with recent acquisitions.
AYRWF stock is up 39.33% year-to-date with a high of $37.50 on February 11th. Currently AYRWF stock is trading at $34.65 on March 3rd almost an hour after the open. Currently, analysts at TipRanks are giving AYRWF stock a 12-month average price target of $40.48. in essence, this would be an 18.43% gain from current levels. For this reason, AYRWF stock is a possible marijuana stock to invest in for March.
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Jushi Holdings Inc.
Jushi Holdings Inc. is a cannabis company building a multi-state portfolio of cannabis products and dispensaries. Presently, Jushi operates 16 retail locations across the U.S. and has expansion plans for 2021. On January 26th the company announced the complete acquisition of Agape Total Health Care Inc a Pennsylvania dispensary. To elaborate, Agape has one operational dispensary with plans to open another two stores in Philadelphia. Once complete, this will leave Jushi with 10 dispensaries in Pennsylvania 8 carrying the BEYOND/HELLO brand. Additionally, this also gives Jushi the right to open 16 new dispensaries throughout Pennsylvania with 10 to 12 planned for 2021.
Last year Jushi showed strong financial results showing a revenue increase of 67% sequentially to $24.9 million. Also, the company also increased its revenue guidance for Q4 of 2020 to $28-$30 million. Currently in Q1 of 2021 Jushi is expecting revenue of $37-$40 million and gave full 2021 revenue guidance of $205-$255 million.
JUSHF stock is up 30.7% year to date with a high of $9.06 on February 5th. Currently JUSHF stock is trading at $7.84 on March 3rd down 3.44% an hour after the open. According to analysts at MarketBeat JUSHF stock has a consensus price target of $8.25. But JUSHF stock has already surpassed this level a few times in trading. With this in mind, JUSHF stock is a marijuana stock to watch this week in March.
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