Should These Marijuana Stocks Be on Your Watchlist?
The 2020 year has been a roller-coaster of a ride in the stock market. With marijuana stocks becoming a spotlight sector in the market. The extreme volatility in the beginning of 2020 seems to be behind us. With more stability investors are looking for the best marijuana stocks to buy to add to their portfolio. Pot stocks to watch like Trulieve Cannabis Corp. (OTCQX:TCNNF) have had good returns during market downtrends. With Trulieve stock peaking mid-August at $25, its recent price action puts it on our marijuana stock watchlist.
The recent pullback in the stock market has created some interesting buying opportunities. This price drop has affected some of the top marijuana stocks in the industry. Heading into the end of the year investors seem to be taking profits. This has created a significant price reduction in marijuana stocks. Some mid-cap front runners like Harvest Health & Recreation Inc. (OTC:HARV) have not yet regained their pre-pandemic stock prices yet are still looking stable at its current price. Many top-performing pot stocks are currently in the same spot. Below we will discuss 2 top-performing marijuana stocks to watch in the cannabis sector.
The GreenHouse Veteran of The Cannabis Industry
Village Farms International Inc. (NASDAQ:VFF) is not a traditional marijuana stock. But being a leader in the farming and greenhouse facility sector has given it cultivation experience. The transition into the cannabis industry proved to be a great move for the company. Currently ranking number 13 in the top-performing stocks of the year on the Toronto exchange. The companies experience in farming has translated into becoming a very successful marijuana producer. Village Farms International is one of the longest operating North American Greenhouse growers in the cannabis industry. In Addition to its own success, its partnership with Pure Sun Farms has giving it more growth potential. Village Farms is becoming one of the leading vertically integrated low-cost cannabis producers.
Village Farms Stock is currently trading in the lower $5 range. Coming off a high of $6.99 back in early June. Its recent price point is beginning to look good for investors. The company had a significant change in income showing a net loss of $119,000, compared to a net income of $3.7 million the year before. In the same quarter, the company has also reported a 15% increase in produce sales for Q2 of 2020. Its current price action and low-cost business model puts Village Farms Stock on the top-performing marijuana stocks to watch.
The Multi-State Operator with Top Performance
Curaleaf Holdings Inc (OTCQX:CURLF) is another vertically integrated marijuana stock leading the industry as a multi-state operator of cannabis. With operations in 23 states and its Select Brand giving it the title of the #1 Cannabis Oil Brand in the country. The future of its growth potential is looking promising. Currently, Curaleaf Holdings is reporting growth amid the pandemic shutdowns. Because of cannabis becoming essential in many states marijuana has helped lead the market recovery. In its recent second-quarter revenue report Curaleaf’s Stock is showing 142% year over year total revenue growth. These numbers are drawing attention to the stock and making it a top performer in the marijuana industry.
With Curaleaf‘s stock receding from its high of $9.43 in mid-August this year. The stock’s current price of $7.26 is presenting a good entry-level for investors. In conclusion, with the market still signaling a downtrend in price action. These top-performing marijuana stocks should be on your watchlist.
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