Marijuana stocks have gone through a phase of euphoria in early fiscal year 2019 to a period of extended depression. With President Joe Biden assuming office, there are hopes of relatively accelerated nationwide legalization of marijuana. With steady growth, the legal marijuana market is expected to be worth $73.6 billion by 2027.
Looking at the stock price action, it’s very likely that the worst is over for marijuana stocks. While some stocks have surged higher in the recent past, there are others that trade at attractive valuations.
Let’s discuss four undervalued marijuana stocks to buy.
- OrganiGram Holdings (NASDAQ:OGI)
- Hexo Corp. (NYSE:HEXO)
- Sundial Growers (NASDAQ:SNDL)
- Aurora Cannabis (NYSE:ACB)
Marijuana Stocks to Buy: OrganiGram Holdings (OGI)
Source: Shutterstock
OGI stock has trended higher by 92% in the last six months. The stock however remains undervalued at a current market capitalization of $550 million.
OrganiGram is a provider of medicinal and recreational cannabis in Canada. For the first quarter of 2021, the company’s gross and net revenue increased by 42% and 30% respectively. I expect revenue growth to accelerate further in the coming quarters.
The company has launched 53 new stock keeping units (SKUs) since July 2020. Further, 14 new SKUs are expected to be launched in the second quarter. The company’s brands have been attracting…
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Marijuana stocks have gone through a phase of euphoria in early fiscal year 2019 to a period of extended depression. With President Joe Biden assuming office, there are hopes of relatively accelerated nationwide legalization of marijuana. With steady growth, the legal marijuana market is expected to be worth $73.6 billion by 2027.
Looking at the stock price action, it’s very likely that the worst is over for marijuana stocks. While some stocks have surged higher in the recent past, there are others that trade at attractive valuations.
Let’s discuss four undervalued marijuana stocks to buy.
- OrganiGram Holdings (NASDAQ:OGI)
- Hexo Corp. (NYSE:HEXO)
- Sundial Growers (NASDAQ:SNDL)
- Aurora Cannabis (NYSE:ACB)
Marijuana Stocks to Buy: OrganiGram Holdings (OGI)
Source: Shutterstock
OGI stock has trended higher by 92% in the last six months. The stock however remains undervalued at a current market capitalization of $550 million.
OrganiGram is a provider of medicinal and recreational cannabis in Canada. For the first quarter of 2021, the company’s gross and net revenue increased by 42% and 30% respectively. I expect revenue growth to accelerate further in the coming quarters.
The company has launched 53 new stock keeping units (SKUs) since July 2020. Further, 14 new SKUs are expected to be launched in the second quarter. The company’s brands have been attracting…
