Let’s face it – with mounting concerns about the next market correction or crash it’s simply not a great time to be an investor. As always, buy and hold cannabis stock investors should avoid buying or selling stocks based on the short-term market movements. Remember “time in market” not “timing the market” is the key for long term success. Jushi Holdings is one such cannabis stock that shows plenty of promise – but why is Jushi Holdings a strong buy?
The company aims to grow by acquiring distressed assets, opportunistic acquisitions, and competitive applications. It is a vertically integrated player that started off focussing on select markets, building a brand name for itself there, and then moving on to the next state. Jushi now has 16 stores operating across six states and it expects to open 10-12 stores this year. Let’s see why we think this cannabis stock is a strong buy.
Huge Gains for Jushi Stock
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Believe it or not, Jushi is one of the fastest growing cannabis stocks. In 2020, the company’s revenue soared by an astounding 690% while its gross profits increased by 760%. Jushi is also generating impressive amounts of cash. As of March 31, Jushi Holdings reported $168 million in cash on its balance sheet.
Although shares of Jushi Holdings have gained 600% over the past 12 months, this cannabis stock still trades for just about $6 per share. With huge gains like these, it’s easy to believe why this cannabis stock is undervalued.
With this cannabis stock, investors benefit from a high-growth business model that is much less expensive than other cannabis stocks in the space. Sounds great but why is Jushi a Strong Buy?
What’s Next for Jushi?
Last month Jushi announced that its wholly-owned subsidiary, Pennsylvania Medical Solutions entered into an amendment of its existing lease with Innovative Industrial Properties (IIPR), making available an additional $30 million in funding for the first phase of property development of the facility.
In a recent release, Jushi leadership states: “The funding will be used to complete the buildout of the existing 89,000 sq. ft. building and an approximately 40,000 sq. ft. expansion of the Facility for a total of 130,000 sq. ft. The first phase of the expansion, with an estimated budget of approximately $40 million, is expected to add approximately 26,000 sq. ft. of canopy for a total of 45,000 sq. ft. and is expected to be completed by the fourth quarter of 2021.”
Bottom Line: Why is Jushi Holdings a Strong Buy?
This underrated pot stock is a, and its growth is just getting started. Cannabis investors who buy Jushi shares now will likely see incredible long-term gains.
Jushi shares are currently trading at $6.02. Analysts have given this cannabis stock a median target of $10.00. With an upside like this, Cannin.com believes Jushi Holdings to be a strong buy and a valuable addition to your cannabis stock portfolio.
How Can I Buy Jushi Stock?
Jushi stock can be purchased by contacting a registered stock broker or through an online stock brokerage service for self-directed investors.
This cannabis stock trades on the Canadian Securities Exchange (“CSE”) under the ticker symbol “JUSH” and on the U.S. OTC Markets under the ticker symbol “JUSHF.”
About Jushi Holdings
Jushi Holdings Inc. is a national, multi-state cannabis company developing and operating high-end retail locations, premium brands and state-of-the-art cultivation, processing and manufacturing facilities. Our platform is designed to set the new standard for a sophisticated, modern cannabis experience.
Why is Jushi Holdings a Strong Buy?
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