Best Stocks To Buy Now? 4 Cannabis Stocks To Know

The rampant use of marijuana as a coping method during the COVID-19 pandemic has made entrepreneurs join in on the action. Speculation on the best cannabis stocks becomes more apparent. That may be because legal cannabis use is projected to reach over $23 billion by 2022. With price movement still pretty much volatile in the stock market, it has created an opportunity for traders and investors alike to flip in the short run…

Interests in cannabis agriculture do not only come from budding. Even greenhouse agriculture giant Village Farms International (NASDAQ: VFF) is expanding into the cannabis industry. The company’s acquisition of Pure Sunfarms in Q4 2020 has allowed Village farms to record $47.4 million in sales in the same quarter. The company also achieved a net income of $11.6 million for 2020, a 404% increase compared to the year before.

While cannabis is often known for its euphoric effect, companies like Charlotte’s Web (OTCMKTS: CWBHF) are looking to harness its therapeutic side to its fullest. The company recently launched its cannabidiol (CBD) oil tinctures for chronic pain management. This could become a best-seller among frontline workers as they can reap the product benefit without affecting cognition. With such huge potential and market opportunity, let’s take a look at four of the top cannabis stocks to watch in March 2021.

Top Cannabis Stocks to Watch In March 2021:

Tilray Inc. (TLRY)

Discussion of a merger between Aphria (NASDAQ: APHA) and Tilray that will commence on April 16 has created excitement among investors. While the boards of directors of both companies agree to the deal, a special shareholder meeting will occur between the two to vote and finalize the decision. The merging of the two companies is set to create one of the largest global marijuana companies in the market.

Since the announcement of the merger in mid-December, TLRY stock has more than tripled. Separately, news about possible weed legalization in New York has definitely contributed to Tilray’s momentum. With such movements, it is no surprise that many investors are big fans of TLRY stock.

As Tilray is waiting for FDA regulations before moving into the U.S. CBD market, the company has created a significant presence in the European market. Not only does its cultivation in Portugal reduce cost, but this allows Tilray to avoid applied tariffs on imported goods altogether. This creates cost efficiency and expands the company’s profit in the long run. With that said, will you be making a buy on TLRY stock?

Cresco Labs Inc. (CRLBF)

One of the largest cross-state operators in the country, Cresco Labs is a vertically integrated cannabis company. It leads the competition as the largest wholesaler of branded cannabis products. The company has not only acquired a license to operate in Ohio. It will also begin distribution in Arizona. The company is definitely looking to target every state once legislators give a green light for cannabis consumption.

While most cannabis companies find it hard to profit in the U.S. market, it came easy for Cresco Labs. Not only that the company is selling in nine different states, but the company also has established 15 production facilities and over 25 retail outlets nationwide. Such proliferation of business allowed Cresco Labs to achieve high revenue growth.

With CRLBF stock gaining over 130% in the last 6 months, it has certainly been rewarding for investors who have been holding the stock. In the company’s third-quarter 2020 results, it reported over $153 million in revenue. That’s sequentially up by 63% and 323% year over year. The company is expected to release its Q4 financial performance on…

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