Best Marijuana Stocks To Buy In 2021? 2 Cannabis Stocks With Potential Upside

Are you watching top marijuana stocks looking for the best opportunity to invest? At the present time, many cannabis stocks are beginning to show some upward momentum in trading. Until June the best pot stocks to invest in saw significant declines in the market. But with a shift in momentum last month July has continued to add value to the cannabis sector. Currently, there is a…

major push for cannabis reform and legalization in Congress.

As more lawmakers begin to stand behind a need to change federal cannabis policy investors are finding the top marijuana stocks to invest in for 2021. At the present time, many cannabis stocks are still trading closer to their lower stock prices this year. For the most part, many of the top pot stocks reached their 2021 highs in February and have since been consolidating at lower levels.

This could be seen as a loading zone for marijuana stocks with potential federal cannabis reform on the horizon. In the US there are well-positioned cannabis companies that could see significant growth as new markets begin presenting themselves. As of now, medical marijuana is legal in 37 states this includes 18 that allow adult use. Many other states have passed cannabis decriminalization and reform laws and things are looking positive for the growing industry.

Possible Catalysts For Top Pot Stocks in 2021

All things considered; cannabis companies have been delivering strong earnings in the first quarter of 2021. Although the market has not reacted to this revenue growth it shows which companies could continue to perform at a higher level. As the cannabis market continues to grow these companies could produce long-term revenue for investors.

As of now, the cannabis industry is expected to more than double in revenue in the next five years. According to Statista US sales of legal recreational cannabis are expected to reach an estimated $42 billion by 2026. For investors, marijuana stocks represent a rapidly growing industry that could throw off significant returns in the coming years. But before investing in marijuana stocks there are a few important factors to consider.

First, the cannabis sector is known as one of the more volatile areas of the market. This makes it important for investors to do their due diligence on a company before investing. Studying how a stock moves in the market and researching a company’s financials can help you establish the best positions for your investments. With this in mind, let’s take a closer look at 2 top marijuana stocks for your watchlist this week.

Marijuana Stocks To Watch:

  1. Columbia Care Inc. (OTC:CCHWF)
  2. TerrAscend Corp. (OTC:TRSSF)

Columbia Care Inc.

In 2021 there are cannabis companies that are positioning themselves as New York legalizes cannabis. Essentially, Columbia Care Inc. could be one of the best-positioned cannabis companies to grow rapidly in the state. With a recent acquisition of a 34-acre Long Island cultivation site, the company has one of the largest cannabis footprints to service the East Coast market. As of now, the company operates in 18 US markets and operates 115 facilities including 87 dispensaries and 28 cultivation and manufacturing facilities. In July the company announced the launch of West Virginia market operations. Columbia Care expects to begin cultivation operations in the state at its Falling Waters facility.

In the First quarter of 2021, Columbia Care announced a record combined revenue of $92.5 million an increase of 220% year over year. As a result, the company produced a record combined adjusted gross profit of $37.7 million an increase of 316% from the prior year. Also important, the company reiterated its 2021 combined revenue guidance of $500-$530 million and adjusted EBITDA of $95-$105 million. In June Columbia Care completed the…

Continue reading at GREENENTREPRENEUR.com

 

You May Also Like

About the Author: admin

Leave a Reply

Your email address will not be published.