Finding Marijuana Stocks To Buy In 2021
Have you been looking for marijuana stocks to buy in 2021? In general, this year has been monumental for the cannabis industry. In 2021 more states have legalized cannabis expanding the market and giving cannabis companies a larger industry to grow in. At the present time, we have seen top cannabis companies continue to deliver record revenue growth for 2020. In addition, most companies have also issued 2021 revenue guidance that forecasts substantial revenue growth for the future. With this market trend continuing in 2021 many leading cannabis stocks to invest in could have more potential upside this year.
Currently, many new investors have begun to look for value in top marijuana stocks this year. As it stands top pot stocks have seen substantial market volatility so far and this is something potential investors should be aware of. After reaching new highs in February many of the best cannabis stocks to buy have seen a sharp decline in value. For the months of March and April, the cannabis sector has dropped to levels seen in December of 2020.
For investors, keeping up with current market trends is important when investing in marijuana stocks. Traditionally cannabis stocks are a more volatile part of the market which makes it difficult for long-term investing. Because of this volatility marijuana stocks are known to be a high-risk high-reward area of the market. In fact, many day traders and swing traders use these price fluctuations to produce gains in the market.
Understanding Cannabis Stock Volatility
Despite this market volatility, many analysts predict the cannabis sector could see significant gains in 2021. In 2020 U.S. legal cannabis sales hit a record $17.5 billion up 46% from 2019. As Americans consume more marijuana and the market expands into new areas of the US there are some cannabis companies that are well-positioned for future growth in the market.
Currently, these cannabis stocks could be good options for your watchlist going into May. This week top marijuana stocks have begun to show some upward momentum in the market. One major catalyst that has been fueling the cannabis sector rally is cannabis reform and legalization on the federal level.
With banking reform in the Senate and possibly more bills being proposed in 2021 investors have to keep a close eye on any new cannabis policy changes. With some recent upside in the market, these could be 2 top marijuana stocks to add to your watchlist for 2021 gains.
Marijuana Stocks To Watch:
TerrAscend Corp. has operations in Pennsylvania, New Jersey, and California and is also a licensed cannabis producer in Canada. The company operates the Apothecarium dispensary that continues to produce revenue growth in its latest earnings. Specifically, full-year 2020 net…