2 Top Marijuana Stocks To Keep On Your Radar In 2021
Marijuana stocks are still working to reach better trading in 2021. As of the 18th of August, things are looking a bit better for cannabis stocks. Although the market has been down for some time it’s been more volatile. Which in comparison to the downtrend that occurred from mid-February to the end of April more overall action has been taken place. With the sector looking a bit more green some shareholders were able to make some profit on the 18th of August.
But as other cannabis stocks still struggle to climb many are left wondering what will it take for the sector to climb as a whole. Currently for those who are looking to invest in cannabis can find some of the best marijuana stocks to buy. This is because with the bulk of the sector still down many top cannabis stocks are still showing lower entry points. As once said before the name of the game is to buy low and sell high.
For the last several years the growth of the cannabis industry outside of the market has been incredible. Even with many hurdles to get over much progress has been made. As of now more than half of the USA has legalized cannabis in some form. With the increase in legal states comes the development of new markets. By having these new markets in each legal state brings in more revenue and tax money to help with programs and improve the state’s economic stature.
Meaning with more money being made more things can be funded in the state to help improve many things. Such as pushing for social equity and funding programs that help rebuild communities that have been impacted by the war on drugs. Hopefully, with more progress in the cannabis industry, it will help to add more upward trading momentum.
Top Marijuana Stocks To Watch Right Now In 2021
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Ayr Wellness Inc.
Ayr Wellness Inc. a vertically integrated cannabis multi-state operator cultivates, extracts, manufactures, distributes, and retails cannabis products. AS well as branded cannabis packaged goods. The company’s cannabis and cannabis products include concentrates, edibles, and vaporizer products. It also provides administrative, consulting, and operations support services to licensed cannabis companies.
In addition, Ayr Wellness Inc. operates medical retail dispensaries. In the company’s most recent news they have announced the release of its second-quarter 2021 results. Some highlights to mention are Q2 Revenue up 222% Y/Y to $91.3 Million, up 56% sequentially. As well the company saw a Q2 Adjusted EBITDA of $27.4 million on a US GAAP basis. This is up 225% Y/Y and 49% sequentially. Another thing to point out is the announced proposed acquisition of Cultivauna, LLC. Who is the owner of Levia, a top-selling brand of cannabis-infused seltzers
Words From The Company
Jonathan Sandelman, CEO of Ayr Wellness, said, “In the last 12 months we’ve laid out an ambitious plan for growth – growing our footprint and building our brands on the foundation of being the largest-scale producer of high-quality flower in the country. Because everything starts with the plant.”
AYRWF Stock Performance Market Update
In the last 2 months of trading, this cannabis stock has been fluctuating heavily in the market. At the start of June AYRWF Stock was not able to continue its climb from the end of May. For the first 21 days of June, the company was trading down in the market. However, from the end of June trading started to look better for AYRWF stock right before heading into July. In the first 2 weeks of July, the company was on a progressive upward trend.
However, even after this time the company was a bit volatile in trading but was able to keep a decent market level most of July. When August began the company was able to keep its momentum going for the first week and a half. However, from the 10th of August to the 17th AYRWF stock had a big drop in trading. Yet all is not lost for this marijuana stock to watch. In recent trading, the company has once again started to rise in mid-August.
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Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand.
In recent news, Cresco Labs announced the execution of a definitive agreement to acquire 100% of the outstanding equity interests in Blair Wellness, LLC. The company that Cresco would be buying is a Baltimore, Maryland medical cannabis dispensary. This deal is set to be finalized during Q4 of 2021.
Words From The CEO Of Cresco Labs Inc.
“We’re pleased to announce the signing of another immediately accretive acquisition in a key U.S. cannabis market. This acquisition of Blair Wellness will represent a step toward building a meaningful, material position for Cresco Labs in Maryland – a state with tremendous growth potential over the coming years,” said Charles Bachtell, CEO and co-founder of Cresco Labs.
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