We are in a time of marijuana legalization. California, Colorado, Washington and many other states have legalized medical marijuana. Countries like Canada, the Netherlands, Czech Republic, Germany, Belgium, France, Luxembourg and even Australia are also making moves toward legalizing the use of cannabis.
While the cannabis industry has been booming since 2012, it wasn’t until recently that the market truly took off. With recreational legalization becoming a reality in some states and Canada, along with the passing of the Farm Bill in the U.S. earlier this year, the cannabis industry is showing no signs of slowing down. As the industry innovates and changes, investors are now looking to get in on the action, and there are some promising stocks that far outpace their peers.
This week, I’ll be talking about three marijuana stocks that I believe are worth buying into. For those of you who don’t know, marijuana stocks are stocks with a marijuana-related company. Here are three marijuana stocks to buy right now:. Read more about best marijuanas stocks 2021 and let us know what you think.
Best marijuana stocks to buy ? 3 hours from next week
Can the best cannabis stocks to invest in grow again in May?
Are major marijuana companies preparing for a market recovery? After three months of declines in market value, the best cannabis stocks to invest in began to show signs of some growth in May. Cannabis legalization and reform are the main catalysts for the cannabis industry today. Senate leaders could reintroduce a bill to legalize marijuana at the federal level as early as next week.
If that happens, this week could be a good opportunity to add the best cannabis stocks to buy to your watchlist. In the United States, large cannabis companies are rapidly expanding across the country, making their presence felt in a growing market. Overall, 2021 was a very active year in terms of legalizing medical and recreational marijuana at the state level.
Major cannabis companies in the US recently reported significant revenue growth for the first quarter of 2021. While this has not had a significant impact on the performance of marijuana stocks in the market, it is an indication of the growth potential of the cannabis industry.
The growing cannabis industry in the United States
By 2021, mergers and acquisitions have become the preferred means of expansion for cannabis companies. Large cannabis companies primarily use this method to enter new markets and expand rapidly in existing markets. Some of these companies are merging to become even more influential in the industry.
Many analysts are now predicting significant growth in the cannabis industry over the next five years. To find the best marijuana stocks to invest in, it is important to always do your own research on the company. By studying a company’s financial results and how its shares perform in the market, investors can get a better return on their transactions.
U.S. cannabis companies have posted their best earnings results since 2020 and could be a good place to look for clues. With that in mind, let’s take a look at the top three US cannabis stocks to keep an eye on for the fourth week of May.
Marijuana titles to be checked
- Trulieve Cannabis Corp. (OTC: TCNNF)
- Cresco Labs Inc. (OTC: CRLBF)
- Columbia Care Inc. (OTC: CCHWF)
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. is currently the largest cannabis company in Florida and has over 50% market share in the state. But after the acquisition of Harvest Health & Recreation Inc. (OTC: HRVSF) could become the largest cannabis company in the United States. Specifically, the consensus revenue forecast for these two companies for 2021 is $1.2 billion. In fact, after this acquisition, Trulieve will be the largest revenue-generating cannabis company in the world.
Specifically, upon closing of the transaction, Trulieve will transfer 0.1170 shares of TCNNF to Harvest shareholders. In addition, the company will pay a total of about $2.1 billion, based on the stock’s closing price on the seventh. May. So the new company will operate in 11 states, with a total of 126 dispensaries catering to medicinal and recreational cannabis consumers. With a combined adjusted EBITDA of $266 million and a consensus expectation of $461 million in adjusted EBITDA for 2021, they could be the most profitable MSO in the United States. On the 13th. In May, Trulieve announced record revenue of $193.8 million and net income of $30.1 million for the first quarter of 2021.
For the full year, TCNNF shares rose 23.24% to close at 21. May at $38.97. TCNNF stock reached a new high of $53.73 in February and is up 56.19% over the past six months. According to analysts at Tip Ranks, TCNNF has a 12-month average price of $70.32 per share. In essence, this would represent an 80.45% increase over current levels. With that in mind, TCNNF stock could be one of the best marijuana stocks to buy next week in May.
Cresco Labs Inc.
Cresco Labs Inc. is one of the largest MSOs in the United States and is the largest wholesaler of cannabis branded products. The company works primarily with consumer products and operates 32 pharmacies in 10 states and 18 manufacturing facilities nationwide. Cresco is expanding through strategic acquisitions and has begun selling adult-use cannabis in Arizona. In April, Cresco released the results of a survey showing that 25 percent of Americans now use cannabis, and that use has increased by 56 percent since 2018.
In 2020, Cresco experienced a significant increase in revenue. Notably, Cresco’s latest earnings report revealed record sales of $476.3 million for the full year 2020. This is an increase of 271% over the previous year. In addition, the company announced adjusted EBITDA for the full year of a record $116 million. Cresco is expected to be in town next week on the 27th. may, announcing financial results for the first quarter of 2021. It is also significant that the company has converted its accounting to US GAAP.Crespo Laboratories
CRLBF shares closed at $11.05 on May 21, up 12.01% from a year ago. CRLBF stock hit a high of $17.49 per share in February and is up 26% over the past six months. According to analysts at Tip Ranks, CRLBF has a 12-month average share price of $22.41 per share. In fact, this represents an increase of 102.81% over the current level. With that in mind, CRLBF stock could be one of the best cannabis stocks to invest in in 2021.
Columbia Care Inc.
With the legalization of cannabis in New York, investors should take a closer look at Columbia Care Inc. Overall, the company has one of the largest cannabis cultivation businesses on the East Coast, thanks to its recent purchase of a 34-acre cannabis cultivation site on Long Island. Columbia Care currently operates in 18 US markets and also has a presence in the EU. The company currently operates 115 facilities, including 87 dispensaries and 28 cultivation and manufacturing facilities.
The 17th. In May, Columbia Care reported record results for the first quarter of 2021. Specifically, the company posted total revenue of $92.5 million in the first quarter, up 220% from the previous year. In addition, the company’s adjusted gross profit for the first quarter was $37.7 million, up 316% from the same period last year. For 2021, Columbia Care reiterated its forecast for total revenue of $500 million to $530 million and adjusted EBITDA of $95 million to $105 million.
CCHWF shares closed May 21 at $5.73 per share, up 13.20% from a year earlier. CCHWF shares peaked at $7.89 in February and have risen 44.07% over the past six months. According to analysts at Market Beat, the consensus price target for CCHWF stock is $11.40 per share. This is essentially a 99% increase over the current rate. For this reason, CCHWF stock could be one of the best marijuana stocks to add to your watchlist next week.Cannabis stocks have been flying high this year, gaining nearly 300% since the start of the year. While the sector remains highly speculative and the marijuana business still faces significant hurdles, investors have been attracted to the sector’s potential.. Read more about best stocks to buy now and let us know what you think.
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