Which Cannabis Stocks Will See The Most Gains In 2021?
The end of 2020 is here, and marijuana stock investors are asking themselves which cannabis stocks to buy for gains in 2021? For the most part, investing in leading marijuana stocks in 2020 has made investors solid returns for the year. But with December ushering new highs for most top pot stocks is now the right time to start a position? Currently, some of the strongest U.S. cannabis companies like Green Thumb Industries Inc. (GTBIF Stock Report) are reporting record revenue and coming off a recent high of $25.37 at the top of this week. As market sentiment continues to be positive and legislation to reform cannabis in the U.S. still lives so does the upward momentum for cannabis stocks.
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It’s important to remember that traditionally marijuana stocks are known for being volatile in the market. Sometimes in the past, certain events have managed to bring down the entire sector like the vaping crisis in 2019. For fear that a conservative Senate could knock down the MORE Act using caution when picking your positions for next year is truly warranted. Especially if your speaking of a long-term position. But if you’re an investor looking for some short positions for quick gains may be looking for plays in the smaller pot stocks to watch could be your angle.
Pot Stocks To Watch For Market Volatility
While these types of cannabis stocks usually have more price fluctuation, they can also give shareholders quicker gains in the market. In general, many day traders and swing traders favor these pot stocks to watch for their investments. Because there is always the risk of losing money give yourself time to watch these pot stocks to better understand how it performs in the market. Once you feel comfortable with an entry point some investors like to initiate a position using a tiered entry and exit strategy, where you start and end investments with incremental buying and selling. In essence, this is a strategy some investors use and can be implemented into your trading style in the future.
As it stands finding the right pot stocks for your watchlist could be difficult with so many choices. With the intention of shining the spotlight on possible marijuana stocks to watch we can research potential candidates. Since 2020 produced a new start for the cannabis industry most companies could experience growth next year. With this in mind, let’s look at 2 marijuana stocks for potential short-term gains in 2021.
Marijuana Penny Stock To Watch Now #1: Liberty Health Sciences Inc.
Liberty Health Sciences Inc. (LHSIF Stock Report) is an integrated “seed-to-sale” company that provides medical marijuana products to patients throughout the State of Florida. Currently, the company has 26 dispensaries in the state and all its cultivation and processing is done on its 387-acre Gainesville facility. In its recent fiscal 2021 Q2 financials Liberty Health had net sales of $18.17 million up over 71% from the year prior. Recently Liberty Health announced acquisition by Ayr Strategies Inc. (AYRWF Stock Report) for the total consideration of about $372 million. Under the agreement, Liberty shareholders will receive 0.03683 of a subordinate voting share or restricted voting share for each share of LHSIF stock held. Generally speaking, the move will immediately benefit LHSIF stock shareholders by enhancing size scale and capital presence and accelerate growth and market share in Florida.
LHSIF Stock is up 71.05% year-to-date and is currently trading near its YTD high of $0.82 established in yesterday’s trading. As Liberty Health continues its expansion across Florida with the help of Ayr LHSIF stock could see more upward momentum. Since Florida is a rapidly growing market Liberty is well-positioned to benefit from the cannabis market in the state. For this reason, LHSIF stock is marijuana penny stock for your 2021 watchlist.
Marijuana Penny Stock To Watch Now #2: Sundial Growers Inc.
Sundial Growers Inc. (SNDL Stock Report) is a licensed producer crafting cannabis using state of the art indoor facilities. In general, the company has a craft at scale approach with award-winning cannabis genetics and staff of master growers. Recently Sundial acquired a special purpose vehicle from Zenabis Investment Ltd. For $46 million in cash. The loan will pay Sundial interest at a rate of 14% a year until maturity on March 31, 2025. In addition, Sundial will receive a royalty based on quarterly sales from Zenabis medical and recreational wholesale cannabis business. In its latest financials Sundial has an increase in branded net cannabis sales of 77%. Also, the company’s total cannabis sales are up 69% from the previous quarter. As the company switches focus from reliance on wholesale cannabis to branded retail sales things could continue improving for Sundial.
SNDL Stock is down 83.96% year-to-date coming off a high earlier in December of $0.8250. With a 52-week high of $3.88, the stock could see some upside in 2021. At the present time, analysts believe SNDL stock could see some more loss in the market before it moves higher. As Sundial continues growing high-quality cannabis and expands its branded cannabis business SNDL stock could have gained in the future. With this in mind, SNDL stock is a cannabis stock to add to your 2021 watchlist.
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