|Bid||10.57 x 1100|
|Ask||10.77 x 1000|
|Day's range||10.81 - 11.75|
|52-week range||4.00 - 11.75|
|Beta (5Y monthly)||2.09|
|PE ratio (TTM)||38.08|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
New Jersey, Arizona, South Dakota, and Montana -- all legalizing recreational marijuana in the November elections. As legalization efforts smolder in the U.S., investors should be on the lookout for well-established cannabis companies that can turn a profit while simultaneously achieving high revenue growth. There's no good reason to buy into marijuana businesses that are bleeding much-needed cash quarter after quarter.
According to a recent report from New Frontier Data, legal weed sales in the U.S. could jump more than threefold between 2019 and 2025 to $41.5 billion. Meanwhile, in 2019, New Frontier Data also estimated that Canadian weed sales would more than double to $4.6 billion by 2024. The following five marijuana stocks entered 2021 with the most cash on their balance sheets, based on their most recent quarterly filing.
Considering there are so many COVID-19 and recessionary hurdles still to overcome, it's something that's definitely on the minds of Wall Street professionals. Right now, there are three exceptionally popular stocks that are valued far and away higher than Wall Street's consensus price target for each company. Should this consensus price target prove accurate, these popular plays could all fall 40%, or more.