Marijuana Stocks To Buy? 2 To Watch Next Week

Finding the best marijuana stocks to buy can become confusing for new investors. With so many different cannabis companies out there, one way to guarantee you pick the best company for your portfolio is by doing your own due diligence. Realistically researching a company thoroughly before investing is a way to help guarantee you’re making a better investment. Because marijuana stocks to are known for extreme market volatility finding a good entry point for your positions is very important…

At the present time leading cannabis, stocks have seen declines in the market for over two months. As a result, many top marijuana stocks could be at levels that that may produce future gains. If you take into consideration the amount of upward momentum the cannabis sector has seen in the last year many pot stocks have seen triple-digit percentage gains in the market.

After establishing new highs in February, the cannabis sector has declined significantly in market value. Despite this loss in value many leading cannabis companies are currently reporting record earnings and expanding their presence in the market. Additionally, the cannabis market continues to grow rapidly in 2021. In Canada cannabis sales in February grew 74% to $263 million. In a similar fashion, US sales trends continue to show growth with new recreational markets adding to legal sales.

Growth In The Cannabis Industry

For the next five years, many analysts believe the cannabis industry will see significant growth. With this growth can come a significant climb in market value. There are many marijuana stocks that could deliver some upward momentum from current levels. One area that saw the most upside in 2021 was the Canadian cannabis stocks. Peaking in February Canadian marijuana stocks seem to be waiting for US federal cannabis reform to be established. Essentially this has been a catalyst for pot stocks since November 2020.

With the intention of finding cannabis stocks that could start performing better in May, we research some companies. Given that both the Canadian market and US market can produce upside for investors in 2021 these two cannabis stocks could hold potential value. With this in mind, let’s take a look at 2 marijuana stocks for your May watchlist.

Marijuana Stocks To Watch:

  1. Columbia Care Inc. (OTC: CCHWF)
  2. HEXO Corp. (NYSE: HEXO)

Columbia Care Inc.

With New York legalizing cannabis investors should take an in-depth look at Columbia Care Inc. With its recent acquisition of a 34-acre Long Island cultivation site, the company has established one of the largest cannabis operations on the East Coast. The company operates in 18 US markets and has a presence in the EU. Currently, Columbia Care operates 115 facilities including 87 dispensaries and 28 cultivation and manufacturing facilities. One of the original providers of cannabis in the US the company is quickly expanding into the adult-use market as a top operator.

In its latest earnings report, Columbia Care reported fourth-quarter and full-year 2020 results with Q4 revenue of $81.8 million up 51% quarter over quarter. Additionally, full-year 2020 combined revenue was $197.9 million an increase of 151% from 2019. Primarily, Columbia care has outperformed its 2020 full-year outlook. During 2020 the company expanded into California and Colorado 2 key growth markets in the cannabis market. For 2021 Columbia Cares combine revenue pro forma guidance is $500 million $530 million. The company is expected to release first-quarter 2021 results on Monday, May 17th before the bell.

CCHWF stock is up 7.27% year to date with a high of $7.89 in February. Closing on April 29th at $6.49 the stock has increased 77.73% in the past 6 months. Based on analysts at Tip Ranks CCHWF stock has a 12-month price target of $10.37 per share. Essentially this would be a 59.78% increase from current trading levels. For this reason, CCHWF stock is a top US marijuana stock to add to your watchlist next month.

HEXO Corp.

Canadian cannabis companies like HEXO Corp. have been establishing themselves in a global market. The company is a consumer-packaged goods cannabis company that’s creating and distributing cannabis products worldwide. Earlier this year Namaste Technologies Inc. (OTC: NXTTF) subsidiary CannMart signed a national supply agreement with Hexo. In detail, expects new products from Hexo in March of 2021 that will be ongoing this year. Also, Hexo announced it would acquire Zenabis Global Inc. in an all-stock deal valued at $235 million.

In its latest financials, Hexo reported its Q2 and fiscal 2021 financial results with…

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