The marijuana industry consists of companies directly related to the research, development, and distribution of cannabis products, as well as companies that indirectly support these operations. Traditional stock market indices such as the Nasdaq continue to include more companies from the marijuana industry, as a growing number of regions around the world legalize marijuana. The number of U.S. states that permit marijuana use in some form increased to 36 after voters in several states approved marijuana legalization initiatives on their ballots in the 2020 U.S. presidential election.
GRWG, HYFM, and OGI are top for value, growth, and momentum, respectively
Some of the Nasdaq-listed marijuana companies include Tilray Inc. (TLRY) and OrganiGram Holdings Inc. (OGI). Many of these companies have managed to maintain fast revenue growth in spite of the COVID-19 pandemic.
Best Value Marijuana Stocks on the Nasdaq
Here are the top three marijuana stocks on the Nasdaq with the best value, fastest growth, and most momentum.
Small-cap multistate operator (MSO) Jushi Holdings (OTC:JUSHF) is expected by Wall Street to take the crown as the fastest-growing marijuana stock in 2021. Jushi, which is predominantly focused on the limited license states of Pennsylvania, Virginia, and Illinois, should benefit from new store openings in Virginia, substantial organic growth in Pennsylvania, and limited competition in these three core states. The company has offered sales guidance of $205 million to $255 million this year, but shouldn’t have any trouble coming in closer to the high end of this estimate.
2. Columbia Care: 142.9%
Another MSO with a nose for growth in 2021 is Columbia Care (OTC:CCHWF) . As of mid-December, Columbia Care had 76 operational dispensaries in 18 states, with acquisitions playing a key role in its expansion. For instance, the company purchased The Green Solution in September, which happens to be Colorado’s leading vertically integrated cannabis operator. Colorado is currently behind only California in total annual weed sales. According to Wall Street, Columbia Care’s revenue should catapult to $464 million this year, from $191 million in 2020.
3. Curaleaf Holdings: 97.8%
Yet another MSO with big-time growth potential is small-cap Harvest Health & Recreation (OTC:HRVSF) . After paring back some of its expansion plans in 2020 to reduce its operating expenses, Harvest Health should benefit from its home state of Arizona voting to legalize recreational marijuana this past November. No MSO has a larger presence in the Grand Canyon State. Wall Street will be looking for Harvest Health to boost its full-year sales to $368 million in 2021, and perhaps even eke out a small profit.