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Marijuana Penny Stock To Watch This Week 2 Pot Stocks With Potential Gains

Jan 13, 2021 (Marijuana Stocks via COMTEX) --

Top Marijuana Stocks Are On Fire In 2021

Marijuana Stocks are a hot commodity in the stock market so far in 2021. As the cannabis industry continues to prosper globally and, in the U.S., renewed investor interest in the sector has sent top pot stocks soaring in January. Currently, Canadian marijuana stocks like Canopy Growth Corporation (NASDAQ: CGC) are gaining in the market. CGC stock is up almost 7% in today's trading and is up almost 24% in trading this month. In general, most of the best cannabis stocks to buy are showing a similar market trend. One sector gaining investor interest is the CBD and cannabis extraction sectors of the industry. In reality, this portion of cannabis companies was hit hard by the pandemic and only recently began showing signs of recovery. In essence, this could mean with a growing cannabis market they could have renewed potential for gains.

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Many CBD and extraction companies lost value in 2019 after the vaping crisis hurt sales globally. But recent new growth due to the derivatives market in Canada and more legalization in the U.S. has begun to show increases in revenue. While in 2020 most U.S marijuana stocks performed better than the Canadian cannabis stocks this year has seen gains in both sectors so far. With legalization in the U.S. on the horizon, investors are focusing on top cannabis stocks to invest in.

Recent Increasing Demand For The Derivatives Market

To put things in perspective Canada's adult-use cannabis market reached $2.5 billion by October of 2020. This is a much smaller market when compared to the size of the U.S. marijuana market. In 2020 the U.S. legal cannabis market saw about $16-18 billion in sales. By comparing the two you can easily see why most top Canadian companies are planning their entry into the American market. In reality, both markets are expected to continue rapid growth in 2021 which in turn could continue revenue growth for marijuana companies at current levels.

Since the CBD and extraction sectors have not recovered in the way most of the rest of the cannabis industry has there could be more potential gains in the future. In Canada, the derivatives market continues to fuel revenue growth as more cannabis products are introduced into the market. With this in mind let's take a closer look at 2 marijuana stocks with momentum in the market this week.

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Marijuana Stocks To Watch:

MediPharm Labs Corp. (OTCQX: MEDIF)

OrganiGram Holdings Inc. (NASDAQ: OGI)

MediPharm Labs Corp.

MediPharm Labs Corp. is a global leader in specialized, research-driven cannabis extraction, distillation, and derivative products. The company struggled in 2020 due to the pandemic shutdowns delivering revenue of $4.9 million in Q3 compared to $13.9 million in Q2 of 2020. The loss of revenue reflects lower bulk volumes and average selling prices. In recent news, MediPharm announced the company achieved a record shipment of 550,000 units in the 4th quarter of 2020. In general, this shows a change in direction of volume for the company. MediPharm Labs President and interim CEO Keith Strachan said," Shipment volume is a key measure that illustrates growing market demand and our ability to meet that demand through our GMP-certified facilities." The company's reputation for high-quality extracts has it ranking 3rd amongst the five best selling CBD oils in Ontario.medif stock

MEDIF stock is up over 20% in trading today making it one of the biggest gainers of the day. Currently trading at $0.5598 the stock is currently reaching new highs in the market. With the increasing demand for derivatives in Canada and new product launches in 2021 MediPharms could a candidate for a derivative play in the cannabis market. Because MEDIF stock has shown gains in the market today it's a good marijuana stock to add to your watchlist this week.

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OrganiGram Holdings Inc.

OrganiGram Holdings Inc. is a licensed producer of cannabis and cannabis-derived products in the Canadian marijuana market. The company focuses on producing high-quality, indoor-grown cannabis for both recreational and medical consumers in Canada. In essence, OganiGram has developed a portfolio of popular cannabis brands that are proving successful in the derivatives market. Recently the company reported its Q1 fiscal 2021 results and it shows increasing revenue growth. In detail, the company had net revenue of $16.8 million a 30% increase from the year prior. Additionally, OrganiGram also generated a positive cash flow from operations of $0.3 million in Q1 of 2021. In reality the companies double-digit sales growth signifies the companies growing notoriety with each new product launch. Currently, OrganiGarm has launched 53 new product SKUs since July 2020. In addition, it has about 14 more expected to launch before Q2 of fiscal 2021. Organigram

OGI stock is up 4.43% in today's trading and has gained 24.44% since the beginning of 2021. At the present time, analysts at CNN Business have given OGI stock a 12-month price forecast of $1.76 a 6.49% increase from current levels. With recent increases in demand, OrganiGram is well-positioned in the growing Canadian derivatives market. Because of this OGI stock is a marijuana stock to watch for gains this week.

The post Marijuana Penny Stock To Watch This Week 2 Pot Stocks With Potential Gains appeared first on Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.(TM).

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