The marijuana industry has grown exponentially over the last few years due to the acceptance of its medical research, development, distribution, and sale thereof. As the demand for medical and recreational use increases, so does the industries that create it. Several nations, states, and jurisdictions are accepting marijuana use and have begun legalizing its use.
Best Value Marijuana Stocks
Harvest Health & Recreation (HRVSF) specializes in cultivation, dispensaries and production facilities for medical and recreational marijuana. Harvest Health & Recreation had a high forecast of $4.71 and a low of $2.10. The average price target showed a 1.76% increase from the last price of $3.13 per share. Their 2020 third-quarter revenue had an 86% increase from the 2019 third quarter and showed $61.6 million.
Village Farms International Inc. (NASDAQ: VFF) is an agricultural producer growing vegetables such as tomatoes and cucumbers. They also now produce cannabis. They announced in early November that they acquired Pure Sunfarms Corp. from Emerald Health Theraputics Inc.
OrganiGram Holdings Inc. (NASDAQ: OGI) is a licensed medical marijuana producer. They specialize in dried cannabis and cannabis oils. In 2020, they reported a 25% increase in their revenue of $20.4 million from $16.3 million in 2019’s 4th quarter.
Fastest Growing Marijuana Stocks
The following stocks have the best year-over-year (YOY) sales growth in the last quarter. As sales are on the rise, it is a strong indicator that the company is growing.
Jushi Holdings Inc. (OTCMKTS: JUSHF): This holding company puts its energy into diversifying its portfolio by buying cannabis and hemp-based assets. These businesses are involved in the distribution, cultivation, and processing operations in the cannabis industry. As of early December, they own 100% of Virginia-based company Dalitso LLC.
Cresco Labs Inc. (OTCMKTS: CRLBF): They are primarily focused on growing, manufacturing, and distributing cannabis.
Curaleaf Holdings Inc. (OTCMKTS: CURLF): This Canada-based company specializes in the production and distribution of cannabis items. As of January 1st, 2021, they will have a new CEO named Joseph Bayern, and their former CEO, Joseph Lusardi, will remain on the board of directors.
Why Buy Cannabis Stocks Now?
As the world begins to accept the medical and recreational use of cannabis and its benefits, the cannabis industry begins to explode. Those producing, manufacturing, and researching cannabis products will see an increase in revenue and stock prices. The companies that are beginning to merge are indicators of growth and are to be watched in the coming year.
Rate this article