A New Era For The Cannabis Sector
Many analysts and cannabis investors are beginning to feel like a new day for top marijuana stocks are here. As leading cannabis stocks to buy continue showing upward momentum in the market investors are seeing returns in 2021. At the present time, top pot stocks have been climbing in the market since the presidential election in November 2020. But with three consecutive months of gains will the top cannabis stocks begin to pullback this week in February? In reality, some of the best marijuana stocks to buy in 2021 look like they have more upside coming this week in February. Actually, top marijuana stocks like Trulieve Cannabis Corp. (OTC: TCNNF) have gained over 46% in trading in 2021.
Currently, many leading cannabis stocks to watch are showing similar market trends in February. This is partly due to investors getting confirmation from Senate leaders that cannabis reform on the federal level is on the table this year. In the U.S. cannabis legalization has become one of the largest catalysts for market growth. In 2020 cannabis companies in the U.S. began showing strong fundamentals that could help drive the cannabis market for the next five years. Another cannabis market that could see growth because of the U.S. market are Canadian marijuana stocks.
The Growing U.S. Cannabis Industry Right Now
In essence, many Canadian cannabis companies have already established entry into the U.S. market. This means as soon as it’s legal for these Canadian companies to do business in the U.S. most already have an entry strategy in place. But for now, U.S. cannabis companies are expanding rapidly throughout the states. Some are expanding through mergers and acquisitions that have been occurring much more frequently since 2020. This has given the best-performing companies access to new markets in the U.S. Regardless of federal reform in the U.S. 37 states now have legal cannabis including 15 states with recreational markets. In reality, the cannabis industry has strong revenue growth projections fueling this pot stock rally.
For the purpose of finding cannabis stocks that continue to perform well in the market, we can begin to research some of the top companies. As an investor, it's good to look into a company's financials and press releases to see how it is performing. In essence, this could help you make better investment decisions and also help you understand the type of company your investing in. With this in mind, let's take a deeper look at 2 possible top marijuana stocks to invest in for February.
- Are You Up To Date On The Cannabis Industry In 2021?
- 3 Cannabis Stocks To Watch This Week That May See More Gains
Marijuana Stocks To Watch:
Jushi Holdings Inc.
Jushi Holdings Inc. is a vertically integrated cannabis company focused on building a multi-state portfolio of cannabis products. In addition, the company is expanding throughout the U.S. with acquisitions in key U.S. markets. At the present time, Jushi operates 16 cannabis dispensaries across the U.S. On January 26th the company announced it acquired the remaining interest in Agape Total Health Care Inc a Pennsylvania dispensary. Currently Agape has one open location with plans to open another two stores in Philadelphia and Pottsville. In fact, this brings Jushi up to 10 dispensaries in Pennsylvania 8 of which carry the BEYOND/HELLO brand. With this addition, Jushi now has the right to open 16 new dispensaries throughout the state with 10 to 12 slated for 2021.
Last year in Jushi's Q3 2020 financials the company is showing a revenue increase of 67% sequentially to $24.9 million. The company also increased its revenue guidance for Q4 of 2020 to $28-$30 million. In addition, for the first quarter of 2021 Jushi is expecting revenue of $37-$40 million. Also, the company maintains its 2021 revenue guidance of $205-$255 million.
JUSHF stock is up 37.40% year-to-date and has a new high of $9.06 during trading on Friday, February 5th. Currently, analysts at Stock Invest are predicting JUSHF stock to rise 138.15% in the next 3 months. As Jushi continues expanding its market presence with new locations it has good growth potential. With this in mind, JUSHF stock is one of the best marijuana stocks to watch for February.
Acreage Holdings, Inc.
Acreage Holdings, Inc. is a multi-state operator of cannabis �??cultivation and retailing facilities in the U.S. Currently, the company has 28 open dispensaries across 15 states in the U.S. Its retail store brand The Botanist has a range of national and regional cannabis products for consumers. Presently, Acreage and Canopy Growth Corporation (NASDAQ: CGC) have plans for Canopy's entry into the U.S. cannabis market. In detail, the two companies are expecting to release Canopy's THC infused beverages in the summer of 2021. This morning on February 8th Acreage announced it will report its Q4 2020 financials on March 9th after the market closes.
During 2020 Acreage reported revenue growth in its Q3 2020 financials of $31.7 million. Actually, this shows an increase of 42% from Q3 of 2019. Additionally, the company is reporting same store sales growth of 36% for the quarter. In reality, if Acreage can show similar revenue growth in its next financials ACRHF stock could see significant gains.
ACRHF stock is up 130.65% since the start of 2021 and reached a new high of $7.77 in trading on February 5th. Currently, analysts at Gov Capital are giving ACRHF stock a 1-year forecast of $16.60 per share. In essence, this would be a 121.645% increase from current levels. For this reason, ACRHF stock is a possible marijuana stocks to buy in February 2021.
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