Home Trending Stocks 3 Best Marijuana Stocks to Watch for in 2021

3 Best Marijuana Stocks to Watch for in 2021

What’s the possibility of marijuana stocks as we head to 2021? Let’s see what’s the potential.

The heat is there, it just needs a little spark for marijuana stocks to create its aurora in the stock market. The pandemic has had a severe impact on the cannabis stocks.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Get the hottest stocks to trade every day before the market opens 100% free. Click here now. 

However, things started to get better for the marijuana industry after the U.S. election. When the vote came after Arizona, South Dakota, New Jersey, and Montana on Election Day approved to legalize recreational marijuana.

The new President-elect, Joe Biden supports federal marijuana decriminalization. Since early November, after the election’s marijuana stocks have jumped again.

The marijuana stocks will be awaiting the new policy from Washington and what the federal government decides on the possible future of marijuana usage. If so, let’s have a look at the potential marijuana stocks to watch going into 2021.

Aurora Cannabis (ACB)

Aurora Cannabis (ACB) has been one of the worst marijuana stocks in the market. To-date the stock has dropped over 63% since the beginning of 2020.

However, things turned around for Aurora—thanks to the U.S. elections—as the stock soared up to 186% in November. The major factor that pushed Aurora to a Skyride was the U.S. states voting in favor to legalize recreational marijuana.

The other factor that helped Aurora to outperform was its better-than-expected fiscal 2021 Q1 results reported on Nov. 9, 2020.  The company presented a positive outlook going into 2021. The Canadian cannabis producer forecasted net revenue of 60 million to 64 million in Canadian dollars.

Moreover, the company also posted that it’s on track to report positive EBITDA adjusted earnings in the second quarter of fiscal 2021. 

For now, analysts seem to have a neutral analysis of Aurora stock. Among 19 Wall Street analysts, 12 rate ACB stock as a hold, 6 give it a sell rating, and 1 buy rating. So, the consensus rating of analysts rates the stock as a hold. The estimated 12-month median price target for the stock is around $12.52, showing a 37.60% upside potential.Long-term momentum is also bullish. So, Aurora Cannabis (ACB) stock is one to watch for in 2021.

Aphria (APHA)

Analyst Pablo Zuanic believes that Aphria (APHA), a Canadian licensed producer, stands a fair chance after the Joe Biden win. Zuanic says Aphria could have “positive collateral benefits” from the U.S. elections.

Apart from the legalization of cannabis and potential federal rescheduling of cannabis, Aphria has other key catalysts that can help APHA stock to move ahead in the near term. The main catalyst would be the rise in exports.

Assuming the potential of Aphria, among 9 Wall Street analysts, 7 analysts rate the stock as a buy. While 2 of them rate it as a hold. The estimated 12-month average price for APHA is $10.26, forecasting the stock to have a potential upside of almost 42%.

OrganiGram Holdings (OGI)

Just like Aurora Cannabis, OrganiGram Holdings (OGI) has had a devastating year. The stock has plunged by 27% to $1.34 from $1.84, as of March 11, 2020.

However, the retail sales trend improved during the third quarter of 2020. Zuanic said that the sales trend was stronger compared to other Canadian licensed producers. Still, the stock has not been able to satisfy its investors with its slow-movingrevenue growth and cash burn.

The company believes that it has a better long-term prospect. OrganiGram is optimistic to find its way to profitability in the coming years.

According to the Wall Street analysts, OrganiGram Holdings (OGI) investors should hold the stock at the moment. Among 7 Wall Street analysts, 5 give OGI stock hold ratings and 2 buy ratings.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now. 

The new year is expected to bring good fortune for marijuana stocks. And, if the U.S. government takes some bold steps, cannabis stocks will surge to record heights.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Why Iconix Brand Group Inc (ICON) stock turnaround in the after-hours on Thursday?

Iconix Brand Group Inc (ICON) shares started the Thursday, June 17, 2021, trading be losing 1.87% and close the normal trading session at $3.14...

ISun Inc. (ISUN) stock surged during current market trading. Here’s the update

ISun Inc. (NASDAQ: ISUN) stock gained by 19.51% in the current market trading. iSun, based in Burlington, Vermont, is a company built on ideals...

The Trade Desk Inc. (TTD) stock plunged during pre-market. Here’s to know why?

The Trade Desk Inc. (NASDAQ: TTD) stock gained by 0.76% at last close whereas the TTD stock price declines by 90.03% in the pre-market...

Synaptogenix Inc. (SNPX) stock soars during after-hour trading. Why so?

Synaptogenix Inc. (NASDAQ: SNPX) stock gained by 6.33% at last close while the SNPX stock price rises further by 13.48% in the after-hours trading...

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Anpac Bio-Medical Science Inc. (ANPC) stock soars during pre-market trading. Here’s the update

Anpac Bio-Medical Science Inc. (NASDAQ: ANPC) stock gained by 0.46% at last close while the ANPC stock price surged by 22.40% in the pre-market...

VivoPower International Inc. (VVPR) stock soars during pre-market trading. What’s driving it high?

VivoPower International Inc. (NASDAQ: VVPR) stock gained by 1.13% at last close while the VVPR stock price surged during pre-market trading by 1.54%. VivoPower...

Related News

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Why Iconix Brand Group Inc (ICON) stock turnaround in the after-hours on Thursday?

Iconix Brand Group Inc (ICON) shares started the Thursday, June 17, 2021, trading be losing 1.87% and close the normal trading session at $3.14...

ISun Inc. (ISUN) stock surged during current market trading. Here’s the update

ISun Inc. (NASDAQ: ISUN) stock gained by 19.51% in the current market trading. iSun, based in Burlington, Vermont, is a company built on ideals...

The Trade Desk Inc. (TTD) stock plunged during pre-market. Here’s to know why?

The Trade Desk Inc. (NASDAQ: TTD) stock gained by 0.76% at last close whereas the TTD stock price declines by 90.03% in the pre-market...

Synaptogenix Inc. (SNPX) stock soars during after-hour trading. Why so?

Synaptogenix Inc. (NASDAQ: SNPX) stock gained by 6.33% at last close while the SNPX stock price rises further by 13.48% in the after-hours trading...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam