3 Pot Stocks on Track to Double Their Sales in 2021

Few industries will offer the blazing growth potential of the cannabis industry over the next decade. This really shouldn’t come as a surprise given that Canada legalized recreational pot in October 2018 and 36 U.S. states have green-lighted weed in some capacity…

According to New Frontier Data, legal marijuana sales in the U.S. — the world’s top cannabis market — are expected to grow by an average of 21% annually between 2019 and 2025, eventually reaching $41.5 billion.

While plenty of industry maturation lies ahead, a number of marijuana stocks are beginning to separate themselves from the pack. The following three pot stocks are currently on track to be the only cannabis companies to double their year-over-year sales in 2021.

Curaleaf Holdings

Perhaps it’s no surprise that the largest U.S. multistate operator (MSO) by market cap happens to be one of the three fastest-growing marijuana stocks in 2021.

Admittedly, Curaleaf Holdings (OTC:CURLF) didn’t provide a full-year outlook for 2020 when it reported its third-quarter results in November. But with $396.4 million in revenue through nine months, it’s probably fair to say Curaleaf won’t have topped $600 million in full-year sales. For 2021, Wall Street is looking for a cool $1.26 billion in revenue, as well as a recurring push to profitability. This would make Curaleaf the first cannabis pure-play stock to reach the $1 billion annual sales plateau.

While there’s no question that organic growth is pushing sales higher, Curaleaf’s revenue growth is certainly being juiced by two sizable acquisitions last year. It first closed the buyout of Cura Partners. Cura owned the Select brand of pot products, which are especially popular on the West Coast. This was followed by the acquisition of privately held MSO Grassroots. With both deals complete, Curaleaf holds more than 130 retail licenses, has an industry-leading 98 operating dispensaries, and has a retail, processing, or cultivating presence in 23 of the 36 legalized states.

With its foot in the door in practically every state projected to hit $1 billion in annual weed sales by mid-decade, Curaleaf is in great shape to be a sales-growth leader for years to come.

Columbia Care

Another MSO that offers big-time growth potential this year is New York-headquartered Columbia Care (OTC:CCHWF). The company estimates that its sales came to between $155 million and $180 million in 2020, and Wall Street’s forecast calls for $484 million in revenue in 2021. It’s worth noting that the third quarter also saw Columbia Care generate its first quarter of positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).

Columbia Care was built to…

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