Finding The Right Investment In Marijuana Stocks In July
Are you looking for top marijuana stocks to buy after Schumer unveils a draft of a long-anticipated cannabis reform bill? In the next few months, cannabis investors are hoping federal prohibition ends and traders see upside from the positions they have in the top cannabis stocks in 2021. Although this is only a draft of the bill, things could begin to move quickly with lawmakers pushing reform aggressively.
One area of the market that could see significant growth with the change in federal policy is Canadian cannabis companies. In fact, many of these companies have already established entry into the US cannabis market once it’s legal. Some have established CBD and Hemp sales while others have acquired US companies and are preparing an entry strategy. In any case, most Canadian cannabis companies could gain access to one of the fastest-growing cannabis markets sometime this year.
Another area that could see some upside with cannabis reform is marijuana penny stocks. If your not familiar with penny stocks these are any stock trading under the $5 stock price. For the most part, penny stocks are known for being a high-risk area of the market. For investors doing your due diligence before starting a position can help you solidify the most returns for your investment.
Top Cannabis Stocks With Potential Right Now
Everything considered top pot stocks could have some potential gains for investors in 2021. Researching a company’s financials and studying how the stock performs in the market can help you achieve gains for the short- and long-term investor. In the next five years, the cannabis sector is predicted by analysts to more than double in revenue. Because of this, the best-positioned cannabis companies could continue to see growth as the cannabis industry expands.
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With this in mind, we can take a closer look at some top marijuana stocks to add to your watchlist in July. As the cannabis sector recovers some of the value it lost after mid-February these pot stocks could produce some returns with the rising market. As we enter the second half of July these could be some of the best marijuana stocks to add to your watchlist this week.
Top Marijuana Stocks To Watch In July
HEXO Corp.
HEXO Corp is a leading Canadian cannabis company with award-winning cannabis products for the global industry. As it stands, the company is serving the Canadian recreational market with an extensive brand portfolio. HEXO is also producing medical sales in Canada, Israel, and Malta. Recently, HEXO has been expanding into is the US cannabis market. In particular, HEXO serves the Colorado market with Truss CBD USA a joint venture with Molson Coors. In June the company also made the closing arrangements for acquiring Zenabis Global Inc. Zenabis is a Canadian licensed cultivator of recreational and medical-grade cannabis. Both of these acquisitions will help solidify the future expansion for HEXO in Canada, Europe, and the US market.
In June HEXO announced its 3rd quarter fiscal 2021 financial results with a positive outlook for future earnings. Specifically, the company saw total net sales increase by 2% from the prior year. As of now, HEXO maintains the number one position in the beverages category in Canada. But its total net sales declined by C$10.2 million from the previous quarter. Now with recent acquisitions and mergers, HEXO could become the 3rd largest Canadian cannabis company by market share in 2021. On July 14th HEXO announced the acquisition of the entities operating Redecan. In Canada, Redecan is the country’s largest privately-owned licensed cannabis producer.
HEXO Stock Performance
HEXO stock is trading at $4.7157 on July 14th up 34.78% year to date. The stock is down 23.24% in the last 30 days and reached a 52-week high in February of $11.04 per share. According to analysts at CNN Business HEXO stock has a 12-month median price target of $6.39 per share. This would represent an increase of 35.31% from its current trading levels. For this reason, HEXO stock is could be a top Canadian marijuana stock to buy in July.
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Lowell Farms Inc.
Lowell Farms Inc is a company establishing a large presence in the California cannabis market. The company has advanced production capabilities, grows artisan craft cannabis, and built a portfolio of award-winning licensed cannabis brands. Recently the company established a licensing agreement with Ascend Wellness Holdings. In detail, the two companies will bring the Lowell Smokes brand to dispensary locations in Massachusetts and Illinois.
Lowell Farms released its first-quarter 2021 revenue of $11 million up 17% year over year. In addition, operating expenses were $4.2 million for Q1 versus $5.4 million in Q1 of 2020. The company is operating at a loss of $5.7 million in this period. In June Lowell Farms announced it is commissioning a first of its kind cannabis processing facility in Salinas Valley, California. In fact, this facility will be capable of processing 250,000 lbs. of flower cannabis annually. Lowell is expected to release its second-quarter 2021 financial results on August 16th after the close.
LOWLF Stock Performance
LOWLF stock is trading at $1.2189 on July 14th up 3.05% year to date. In February LOWLF stock reached a high of $2.149 and has declined 7.50% in the past five days. According to analysts at Wallet Investor LOWLF stock has a 1-year price target of $2.072 per share. As the California cannabis market continues to grow in 2021, LOWLF stock could be a top marijuana penny stock for your watchlist this week.
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