Make sure these three marijuana stocks are on your watchlist for May…
With Senate Majority Leader Chuck Schumer (D-NY) proclaiming that he won’t stop working to end the federal prohibition of marijuana and states posting record sales (like Michigan selling $115 million worth of cannabis in March), there is a lot to keep track of in the cannabis industry right now.
That’s why today, we are going to share three marijuana stocks that are making the news rounds during this exciting time to make sure you are up to date with everything that is happening.
That includes a pick-and-shovel play going public, a company that just made a major acquisition in a soon-to-be $5 billion market, and a company opening its 106th location.
Let’s jump right in and start with the new cannabis IPO…
Marijuana Stocks to Watch in May 2021 No. 3: iPower Inc.
IPO opportunities are something we watch closely in my Cannabis Inner Circle, and on May 7, the hydroponic equipment and supply company, iPower Inc. (Nasdaq: IPW), plans to go public.
It’s one of the largest online hydroponic equipment suppliers in America, with more than 23,000 SKUs on its website.
It also has distribution channels through Amazon, eBay, and Walmart.
Customers can use the products to grow vegetables, fruits, and flowers, but the company is open about the fact that its products can be used to grow cannabis.
As states legalize marijuana and allow home growing, this is helping the global hydroponic market increase in value.
In 2019, it was a $1.9 billion industry.
By 2025, it’s expected to be a $5.7 billion industry.
Marijuana Stocks to Watch in May 2021 No.2: Columbia Care
Columbia Care Inc. (OTC: CCHWF) has quietly become one of the largest multistate operators (MSOs) with 87 dispensaries across the country, but its footprint in New York is what has had investors most recently excited.
Since 2015, the company’s Rochester facility has served more than 120,000 medical patients.
To further expand, Columbia Care acquired a 34-acre cultivation site in New York.
The first harvest from this property is expected to take place in Q4 2021.
New York is expected to be a $5 billion market by 2025, so Columbia Care is a company with a great head start to grab a large piece of those sales.
Now, for this next company, it’s one of the best cannabis stocks you can own.
Because with its 106th location, it’s well on its way to becoming the first household name in cannabis.
Making you a ton of money along the way…
Cannabis Stocks to Watch in May 2021 No. 1: Curaleaf
On April 30, Curaleaf Holdings Inc. (OTC: CURLF) opened a Curaleaf-branded location in Maine, which is the company’s first adult-use store in the state.
Maine is a smaller market right now, with sales of $109.2 million in 2019.
But there is still a lot of money to be made if you are one of the biggest fish in a smaller pond.
By 2024, Marijuana Business Daily projects Maine will generate between $275 million and $326 million in sales.
Not only that, this is part of Curaleaf’s strategic plan that would allow it to be the “Coca-Cola of Cannabis.”
To be a household name, you have to be everywhere your customer is – from Mississippi to Maine.
And as Curaleaf dominates the U.S. market, it’s also expanding its global reach.
Curaleaf bought the largest vertically integrated cannabis company in Europe – EMMAC Life Sciences Limited – for $286 million. Europe was only a $359 million legal cannabis market in 2020, but Curaleaf CEO Joseph Bayern believes that it could eventually be a market worth $120 billion.
To your investing success,
Partner, RADD Capital
2 responses to “3 Marijuana Stocks to Watch in May 2021”
May 03 2021