These cannabis stocks are poised for major inflation in 2021

Bethan Rose Jenkins, Cannabis News Writer/Editorial

Thinking of investing in the ever-evolving realm of cannabis stocks this year? If you answered “yes” to this question, then you’ll be pleased to learn that the market is on a rapid incline. In fact, 2021 is set to be one of the most lucrative years for cannabis stocks so far.

The recent news of Democratic Senate candidates Raphael Warnock and Jon Ossoff conquering their Republican opponents has sent popular pot stocks skyrocketing. Shortly after the news was announced on Wednesday, January 6, Canopy Growth Corp (CGC) climbed 15 percent, Aurora Cannabis (ACB) inflated 10 percent and Cronos Group (CRON) jumped 22 percent.

Not only this, but cannabis stocks have transcended equity markets since Joe Biden was elected as the next U.S. President during the 2020 November election. Biden’s presidential victory has been so influential that The Cannabis ETF (THCX) jumped 60 percent since the start of November.

On that note, let’s find out which pot stocks harbor the most potential for growth in 2021:

1. Jushi Holdings (OTC: JUSHF) — 176.2 percent predicted sales growth 

Wall Street anticipates that multistate operator (MSO) Jushi Holdings could become the fastest-growing pot stock this year. A string of new stores are anticipated to open their doors in Virginia and since Jushi serves customers in Pennsylvania and Illinois where retailer competition is not overly fierce the MSO presents investors with ample opportunities to make a solid return on their investment. Shareholders and investors have been informed that Jushi’s sales guidance ranges between $205 million to $255 million for 2021.

2. Columbia Care (OTC: CCHWF) — 142.9 percent predicted sales growth 

This specialty pharmaceutical company provides medical cannabis solutions to customers across the U.S. and Canada. During mid-December, the cannabis cultivator, manufacturer and provider had 76 operational dispensaries spread across 18 states. Columbia Care’s revenue is forecast to top $464 million this year; growing from $191 million in 2020. Columbia’s constant growth can be attributed to acquisitions. Most recently, in September of last year, the company snapped up The Green Solution for $140 million.

3. Curaleaf Holdings (OTC: CURLF) — 97.8 percent predicted sales growth 

Could cannabis MSO Curaleaf become the first cannabis stock to exceed $1 billion in annual sales? Based on the company’s recent activity, things look promising. Pot stock investors and traders may consider dipping their fingers in this cannabis cookie jar solely for the fact that Curaleaf completed an acquisition of Cura Partners in 2020. In addition to this, Curaleaf acquired privately held MSO Grassroots, which brings the company’s retail license ownership to more than 130 and its nationwide presence to almost two dozen states. 

4. Cronos Group (NASDAQ: CRON) — 96.7 percent predicted sales growth 

Wall Street analysts feel confident that this Canadian cannabis stock will see its sales double this year. The company recently launched a string of new dispensaries across some of the Great White North’s most prominent provinces, including Ontario. Moreover, Cronos has boosted its uptake of cannabis concentrates, edibles, vapes and various other high-margin products, which could lead to better profits for pot stock investors.

5. Planet 13 Holdings (OTC: PLNH.F) 94 percent predicted sales growth 

Number five on the list of the fastest-growing pot stocks for 2021 is Planet 13 Holdings. The cannabis MSO currently operates just one dispensary, which extends over 112,000 square feet and can be found on the Las Vegas Strip. Since the dispensary’s launch in November 2018, visitors have been descending upon the retail outlet with no signs of stopping. At some point during 2021, a brand new 40,000 square-foot store will also open in Santa Ana, California. 

6. TerrAscend (OTC: TRSSF) 87.3 percent predicted sales growth 

Maintaining its focus on limited license markets, including New Jersey which recently voted to legalize adult-use cannabis TerrAscend is certainly stirring up some excitement on Wall Street this year. Why? Because analysts envision annual sales ballooning to $369 million in 2021 from $197 million in 2020.

7. Innovative Industrial Properties (NYSE: IIPR) 71 percent predicted sales growth 

A real estate investment trust focused on the cannabis industry, Innovative industrial Properties (IIP) owned 66 properties in 17 states as of mid-December. Since cannabis is still federally illegal, the company’s sale-leaseback program has emerged as a popular choice for MSOs hoping to make a solid buck. Since IIP is expected to bulk up its portfolio with new cultivation and processing sites this year, annual revenue is on-track to exceed $200 million.

8. Cresco Labs (OTC: CRLBF) 69 percent predicted sales growth 

Acknowledged as one of the largest vertically-integrated cannabis MSO’s in the U.S., Cresco Labs is in a prime position to see its annual sales increase by 69 percent this year. Cresco’s revenue growth and stock market appeal is largely stimulated by the company’s access to 575+ California cannabis dispensaries, as well as the fact it is launching the maximum number of permitted retail locations in Illinois a limited license state.

9. Harvest Health & Recreation (OTC: HRVSF) – 60.5 percent predicted sales growth 

Small-cap MSO Harvest Health & Recreation is sure to reap the rewards of Arizona, its home state, voting to legalize adult-use cannabis in November 2020. The vertically-integrated cannabis company has been committed to broadening its retail and wholesale presence across the U.S. since 2011. Wall Street traders are optimistic that the company’s full-year sales will soar to $368 million in 2021.

10. GrowGeneration (NASDAQ: GRWG) 60 percent predicted sales growth 

This Denver-based online discount grow shop superstore is expected to reel in between $280 million and $300 million in sales for 2021. Boasting 36 store locations in 11 U.S. states, GrowGen strives to have a total of 50 retail stores open in 15 states by the time the year is up. Moreover, the company has set its adjusted EBITDA somewhere in the range of $34 million to $36 million. For the most recent quarter, sales growth was up 73 percent from the same time period last year.