Top Marijuana Stocks for January 2021
Top Performing Marijuana Stocks This Month
Looking to become a part of the glowing Cannabis Industry in January 2021?
Then take a look as we break down the top marijuana stocks that are looking set to excel and be sure to add profit along with diversity to your stock collection.
Best Marijuana Stocks for January 2021
The marijuana industry is an industry that is going to be more well-known than ever before as we go further into 2021 and for the years ahead.
The industry has and is continuing to be widely spoken about and to which has also been predicted to be the underrated industry that is set to reach fantastic potential.
The cannabis industry is made up of companies who research, develop and create marijuana for both medical and recreational use. Along with having companies a part of its sector who support these cannabis companies, who may not have the direct access in the creating and developing process of the cannabis products.
As President-elect Joe Biden comes to rule the White House in a couple of weeks, U.S states including Arizona, New Jersey and South Dakota have all opted for marijuana to be legal for both recreational and medical use. Although more than likely the laws will be changed and be approved that weed is no longer illegal, there has been a slight delay in the process of its finalization to be legalised.
To give you a bigger image, that is 15 confirmed states that have been approved for recreational marijuana use in the U.S. Which leads many to believe it is only a matter of time before other, if not all states follow suit.
From the successful Canadian marijuana stocks to the American cannabis stocks that are gaining growth and momentum to potentially become just as great. Let's take a look into some of the best and top-performing marijuana stocks for January 2021 that offer you a collection of it all.
The Top 5 Best Marijuana Stocks for January 2021:
2. Aphria Inc
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Our chosen top marijuana stocks for January 2021 have been selected by a combination of factors including the best stocks for the best Value, Growth and Momentum from their past history and as we head into the year.
Take a look as we pick out and break down some of our chosen cannabis stocks highlights which include strong factors to consider when looking to buy into these top cannabis stocks.
We have put together a list of the best Marijuana Stocks to consider this month.
So without further ado…
1. Canopy Growth Corp (CGC)
The Canadian cannabis brand who has been one of the favourites among investors within the industry for many years, is still proving its worth to be a cannabis stock to have in your collection.
The large-cap stock took on a restructure as we went through late 2019 coming into 2020, which you can see from its 2020 most recent financial figures showed what impact that the reconstruction had made for the leading brand.
In the company's second-quarter financial results report ending on 30th September 2020, the company has seen its revenue increase to $150,828 from its previous year of $85,621 and over the 6 month period seen its revenue total increase from $189,012 to $269,916 overall.
The company also evidenced its cutting-costs measures as it showed a reduction in selling, general and administrative expenses which was almost $40,000 down shown on its report, putting the company in a clearer positive light.
Moving into the new year, Canopy Growth has a share price at 40.14 and has been given a ‘Buy’ rating by eleven research firms for its potential growth and value making up the rating.
Zacks Rank have given their rating of a #3 (Hold) for the stock with a C rating for Growth.
Having a market cap of $11.71 billion and with the positive outlook coming through this year on the cannabis industry, Canopy Growth stock is a stock that can offer you growth along with stability.
2. Aphria Inc (APHA)
Another Canadian cannabis company and a stock to be familiar with is Aphria Inc.
Shares for the Canadian cannabis company have jumped in recent days, however, leads to believe that this could potentially be the case as the year moves forward.
Aphria is a leading Canadian cannabis company who is also the main distributor to 10 international countries outside of Canada. Another important factor to remember about this stock is that it actually has its hands involved in other avenues besides the cannabis industry.
Along with APHA having a number of various cannabis products under various brands, in late 2020 Aphria acquired SweetWater Brewing Company, one of the USA’s largest brewing companies on the market today.
Aphria Inc’s market capitalisation stands at $2.70 billion.
As it stands the company's current share price is at $ 9.05 with a 52-week range of between 1.95 being the lowest and 9.39 at its highest.
As for Aphria’s recent figures confirmed in the company's fourth-quarter and fiscal 2020 results, Aphria saw its net revenue increase by 5% the second quarter to $152.2 million which is also an 18% increase YoY along with net cannabis revenue being up 81% to $531.1 million.
Other positive financial outcomes for the company where an adjusted EBITDA of $8.6 million up 49%, an adjusted EBITDA from cannabis operations up 55% to $9.3 million in the fourth quarter, along with confirming that the company's balance sheet is looking healthy and strong including the sum of $497.2 million to help fund planned growth, in both Canada and Internationally.
Moving into the company’s Q1 2021 results, the net cannabis revenue increased by 103% from last year now stands at $62.5 million, net revenue up by 16% from Q1 2020 to $145.7 million and an adjusted EBITDA of $10.0 million in the first quarter a 17% increase from Q4 2020.
These are just a few of the growing figures produced by Aphria in the company's last financial report, with more performing highlights to be added.
Looking further into the future, according to a report by MarketBeat Aphria Inc has been given a general consensus ‘Buy’ rating by 7 analysts with 2 giving the stock a ‘Hold’ rating.
Aphria is a cannabis stock that stands firmly in position to continue to do well in 2021.
3. Scotts Miracle-Gro (SMG)
Scotts Miracle-Gro is a great stock that can look to give you great growth and profitability as we move into 2021 and the cannabis industry is looking set to thrive.
SMG is a safe stock to look to invest in if you are either a beginner to the industry or if you are a beginner in stock trading in general, as the stock gives you stability but with room to grow, making it a great investment for the long-term.
Scotts Miracle-Gro is known primarily for its solid focus on gardening products. However, the company has since in recent years become big players within the cannabis industry and the company's Hawthrone products have become a key fundamental product when manufacturing cannabis products.
Due to the ease and accessibility of being able to purchase SMG’s Hawthorne's products and in effect making it easier and simpler to be able to create and make your own cannabis creations from home, this has caused the stock to become a strong, hot contender within the industry and named as a stock to buy.
The American based company announced its year-end figures in November 2020 for the period ending on September 30th with its revenue increasing by 31% from last year to $4.1 billion.
The company's Hawthrone segment was also up 61% year-over-year which would have naturally been heightened due to the stay at home measurements impacted by the Coronavirus pandemic, along with the consumer segment which grew an impressive 90% year-over-year.
As the lockdown measures continue we can see SMG stock to carry on gaining good momentum and growth in the year and for more years to come. In terms of the cannabis side of the business, as more states within the US authorise legalisation of recreational use of marijuana and more set to follow suit, we can see the demand for the Hawthorne segment being strong and apart with exceptional growth for SMG stock.
4. Curaleaf Holdings Inc (CURA)
Being the world's largest cannabis company by revenue, this American cannabis company comes as one marijuana stock to look out for or better yet, to buy into.
Headquartered in Wakefield, Massachusetts, the company is also listed on the Candian stock exchange.
In 2020 Curaleaf soared and is currently up 20% already going into 2021.
Results from the company's Q3 report showed impressive results that were created within 2020 along with promising prospects looking into 2021 with encouraging words from Curaleaf’s Chief Executive Officer (CEO) Joseph Lusardi.
The company brought in record-breaking revenue of $193.2 million up by 164% year-over-year, a record total revenue of $182.4 million up by 195% year-over-year, a record adjusted EBITDA of $42.3 which was confirmed to have grown four times as much as 2019.
The leading cannabis company also closed its acquisition of Grassroots, which is the reasoning as to the stock being named the largest cannabis company in the world based on revenue.
Words from the company’s CEO confirmed the stocks positive position as we move forward into 2021.
"Curaleaf's record third-quarter results were complemented by the successful completion of our acquisition of Grassroots, which expanded our presence into 6 new states, including high-growth markets such as Illinois and Pennsylvania. As we head into 2021, Curaleaf remains incredibly well-positioned following the transformative legalization of adult-use cannabis in Arizona and New Jersey, and consequently the potential of future adult-use in New York, Pennsylvania and Connecticut.
Each of these markets present an enormous opportunity for us, as the only MSO with a leading presence in every one of these states. Looking forward, we expect our growth will be driven by organic initiatives, increased capacity and dispensaries in key states and the roll-out of adult use in Arizona and New Jersey."
With states including New Jersey and Arizona on the brink of final legislation for marijuana use, this is another huge added plus for the company moving forward as the company holds a long-standing presence on the East Coast within the United States.
And as Democrats are set to run the U.S firmly starting this year, is it only a matter of time before more or if not all states confirm cannabis to be a legal product for both recreational and medical use.
Curaleaf is an impressive cannabis stock with fantastic growth and profitability potential with the added benefit of being a fantastic long-term stock to keep hold of for years to come.
5. GrowGeneration Corp (GRWG)
Lastly another top cannabis stock to come on the list of top-performing marijuana stocks is GrowGeneration Corp.
This stock was arguably the best performing cannabis stock in 2020 as its results blew way above other companies within the industry and the S&P 500 with its results.
GRWG runs and operates specialty retail hydroponic and organic garden stores which are set across 31 retail locations over 11 states within the US.
The stocks hydroponics equipment is the perfect addition for individuals who wish to create and manufacture their own use of marijuana within their own homes. But the equipment does not come cheap, which is why it's designed for the serious long-term cannabis growers as one piece of equipment could set you back over $10,500.
But having said that, the company has made fantastic ground over the year as the financial figures show in the company's recent third-quarter report. The company's record revenues hit $55.0 million up from $21.8 million in the same period of 2019 and an adjusted EBITDA of $6.6million compared to $2.2 million in 2019.
Along with the impressive outcome, the company also adjusted some of its figures moving forward as it strives to outperform its current guideline figures. For 2021, the company has adjusted both its revenue increasing to $280-$300 million and adjusted EBITDA to $34 - $36 million.
GrowGeneration is not looking to slow down any time soon as the company is looking into acquiring various other companies to add it to its growing business.
In December 2020 the company announced its acquisition of Grassroots Hydroponics to which it has been acquired and is set to add approximately another $20 million in annual revenue to the leading organization. Alongside Grassroots, GrowGeneration is also set to acquire The GrowBiz, the third-largest hydroponic garden center chain within the U.S and to more recent has announced they are looking set to purchase Canopy Crop Management, the Californian company who seek to bring the best garden products to customers.
Analysts have also given their forecast predictions for the stock going through into 2021 with 7 out of 7 analysts giving the stock a consensus ‘Strong Buy’ rating. With the company's revenue forecast set to grow by 40.58% per year.
There is no denying that the future is looking firm and strong for this cannabis stock, which is potentially also looking to match up to the biggest players within the industry as time moves forward.
6. Cresco Labs Inc (CL)
The American cannabis company Cresco Labs is one stock to keep or buy into for 2021.
The cannabis company which is headquartered in Chicago, Illinois showed that anything is possible as the company showed an impressively strong performance in 2020.
Cresco Labs creates, manufactures and sells medical marijuana and marijuana products around the USA.
Cresco also has its hands firmly in with various other avenues whose creativity is apparent as the brand offers recreational cannabis in various forms such as sweets, chocolates and fruit chews under Mindy’s Brand along with offering various other creative products such as popcorn, vapes and more.
With a market cap of $2.619 billion and with 21 retail stores across the U.S, CRLBF the large-cap stock is looking set to expand this year as more states across the country legalise the use of marijuana.
In the company’s third-quarter report the company's performance was well deserved.
Cresco confirmed that it was the largest wholesaler of branded products within the cannabis industry with $90.5 million in wholesale revenue alone. Alongside this achievement, the company’s revenue was also a record figure as it was confirmed it grew by 63% from 2019 Q3 results which stands at $153.3 million an increase of $59 million.
The company also reported their biggest cash flow from operations of $17.8 million, Retail revenue up by 60% from Q3 to $62.8 million and an adjusted EBITDA of $46.4 million, an impressive 182% growth from the third quarter in 2019.
Although the US brand may have fallen short in comparison to some of its competitors, the results are apparent to what is potentially coming for the brand as it seeks to be a big driving US cannabis force for the long-term.
How To Invest In The Cannabis Industry?
Now you have a better understanding of the cannabis industry and how promising the marijuana industry is set looking into the future, now it’s time to look at becoming a part of the underrated growing industry.
Investing in any stocks is straight forward, easy and simple, when you have the right broker and platform on hand.
Whilst it’s advised to shop around and research various trading platforms and respected brokers, it’s also worth noting to look for regulated platforms that hold the correct licences in order to trade legally.
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Marijuana Stocks - Key Points:
- Top Marijuana Stocks for January 2021 are looking set for blossoming financial years ahead.
- The Cannabis Industry has been predicted to soar within the year as president-elect Joe Biden comes into power.
- Marijuana is becoming legalised across more U.S states as time moves forward, for both recreational and medical usage.
- Investing in the Top Marijuana Stocks is simple, quick and easy. eToro, the leading trading platform, can have you up and running with investing in your chosen cannabis stocks in a matter of minutes.
- Always invest smartly and wisely, along with choosing the right broker to excel your trading journey.