3 Best Cannabis Stocks for 2021
Cannabis is one of the fastest-growing industries out there. It is a very young industry and the opportunity for growth is tremendous. However, this opportunity also comes fraught with risks. Cannin has been an ally for the marijuana industry and has consistently been recommending stock picks for the last two years. The success ratio for Cannin recommendations is a whopping 78%! Cannin ratings prove to be successful 78% of the time within 30 days. So, what are our 3 best cannabis stocks for 2021?
Several of our recommendations in the last 6-12 months have all yielded high returns that have the potential to be sustainable in the long term.
Remember, Cannin.com has over two years of successful stock picks. In fact, 78% of our picks prove to be true within 30 days or less.
Best Cannabis Stock #1 Trulieve Cannabis (TCNNF)
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Cannin had recommended Trulieve Cannabis, a cannabis company which is based out of Florida, on July 10, 2020. In fact, we sent our subscribers a free download of our analysis of Trulieve back in March of 2020. This cannabis stock closed the day at $14.59. On December 31, it was trading at $32.43, up over 122%. The company had a stellar third quarter for 2020. It recorded sales of $136.3 million, up 94% from the corresponding period in 2019.
Sales increased because of growth in organic retail sales as the company increased the number of products it distributed. Trulieve had over 500 SKUs (stock-keeping units) at the end of Q3 2020.
Trulieve is the largest medical cannabis company in the densely-populated state of Florida. It added nine new dispensaries during the quarter that grew the overall count of patients. The state registry which approves and maintains the status of medical cannabis license holders reached approximately 424,000 active patients during the third quarter of 2020.
Trulieve has continued launching new products and opening new dispensaries in the fourth quarter as well. In November 2020, it launched TruSpectrum, “a new class of product that provides whole-plant, full-spectrum relief made without additives or additional ingredients, in an oil-based, vaporizable format”. In December 2020, it launched new dispensaries in Seffner, Davenport and Claremont. The company now has a total of 75 dispensaries which is good news for Trulieve cannabis stock investors.
Analysts have given Trulieve cannabis stock a target of $41.85 and there’s no reason why the company won’t hit it. This is why we believe Trulieve is one of the 3 best cannabis stocks for 2021.
Best Cannabis Stock #2 Innovative Industrial Properties (IIPR)
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Remember, Cannin.com has over two years of successful stock picks. In fact, 78% of our picks prove to be true within 30 days or less.
Innovative Industrial Properties is one of the most promising ancillary stocks in the market today. Cannin had covered IIPR on April 28, 2020 but was recommending IIPR back in early 2019. The stock was trading at $89.34. Today, it is at $183.68, up over 105%.
Ancillary cannabis companies are companies that provide essential services to marijuana businesses. These can be agricultural support or packaging and logistics or real estate service companies like IIPR.
IIPR is a REIT (real estate investment trust) that acquires land and then leases it to companies in the cannabis business. Generally, these leases are for 15 years which will provide IIPR with predictable cash flows.
The company’s real estate portfolio has grown to over $916 million at the end of Q3 from $690 million at the start of Q1. The company is cash-rich and is in acquisition mode. IIPR’s funds from operations rose to $27.9 million in Q3 from $17.8 million in Q1. IIPR has rewarded its investors with an increase in dividends that is now yielding 2.7%.
This stock has been a star from Cannin’s recommendation list and we believe IIPR is one of the 3 best cannabis stocks for 2021.
Best Cannabis Stock #3 GrowGeneration (GRWG)
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Remember, Cannin.com has over two years of successful stock picks. In fact, 78% of our picks prove to be true within 30 days or less.
GrowGeneration Corp., based out of Denver, is in the business of hydroponics and organic gardening stores in the USA. Cannin had written about why it likes this marijuana stock on May 14, 2020. It was trading at $5.45 then. Today, it is trading at $41.35, up over 658%! How’s that for a recommendation!
It has rallied massively in the second half of the year in the assumption that the US government will federally legalize pot. It hasn’t been a bad assumption at all what with a bill decriminalizing marijuana getting passed in early December. We believe GrowGeneration is one of the 3 best cannabis stocks for 2021.
Grand View Research estimates the legal marijuana market to expand to $73.6 billion by 2027, growing at a CAGR (compounded annual growth rate) of 18.1% giving GrowGeneration plenty of room and time to grow. For these reasons, we believe GRWG is one of the best cannabis stocks for 2021.
3 Best Cannabis Stocks for 2021
About Cannin: Your Cannabis Stocks Resource
Cannin is your best resource for the best cannabis stocks for 2021. Our global team of experts evaluates all emerging cannabis stock investing opportunities. We aggregate hundreds of hours of financial research and provide tips on the best cannabis stocks for 2021. Remember, Cannin.com has over two years of successful stock picks. In fact, 78% of our picks prove to be true within 30 days or less.
Use Cannin as your resource for:
- Cannabis and hemp investing news
- Featured cannabis and hemp company analysis
- Comprehensive cannabis and hemp stock reports
Market analysts expect the marijuana and hemp industry will have an annual value exceeding $75 Billion in the next decade. Is it too late to invest in marijuana stocks? No! This is the perfect time to invest.
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