Ways To Invest In Cannabis For Short Term Gains in 2021
Are you looking for different ways to invest in top marijuana stocks in September? For the past six months, the best cannabis stocks to invest in have seen substantial declines in the market. At the present time, this has left the cannabis sector trading near some of its lowest price points this year. One area that has seen significant upside earlier in the year is marijuana penny stocks. For those not familiar with penny stocks these are any stocks trading under the $5 stock price.
Penny stocks are a higher-risk investment because of substantial market volatility. In the first quarter of 2021, the cannabis sector began the year with a rally that established where the sector could go with federal cannabis legalization and reform. Since this did not happen as investors expected most have gone to other areas of the market for returns. This is partially why marijuana stocks are trading so much lower now than the highs established in February.
But recent trading levels could be an opportunity for cannabis investors to start positions in pot stocks at lower levels. With the first week in September showing some potential upside, it could be time to put some top cannabis penny stocks on your watchlist next week. Once the cannabis sector starts moving higher penny stocks could deliver some short-term gains for investors. For next week in September, these could be some of the best marijuana penny stocks for your list right now.
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Top Marijuana Penny Stocks In September 2021
- Jushi Holdings Inc. (OTC: JUSHF)
- Columbia Care Inc. (OTC: CCHWF)
- TPCO Holding Corp. (OTC: GRAMF)
Jushi Holdings Inc.
First up is Jushi Holdings Inc. a cannabis and hemp company that is expanding its presence in the medical and recreational cannabis markets across the US. At the present time, the company is building a portfolio of branded cannabis and hemp-derived assets across the US. Jushi operates 21 dispensaries under the BEYOND/HELLO brand. To close August a Jushi subsidiary Agape Total Health Care Inc. opened the 14th Beyond/Hello in Pennsylvania. Additionally, Jushi has 31 retail licenses in the US, and its national brand of cannabis dispensaries Beyond/Hello continues to see growth online and in-store.
On August 25th Jushi reported its second-quarter 2021 results with revenue of$47.7 million up 14.6% sequentially. The company delivered a net income of $4.8 million and an adjusted EBITDA of $4.6 million. As a result, Jushi saw gross profits of $21.9 million and an increase of 193.7% year over year. Also, in August the company announced the upcoming launch of branded cannabis products in the commonwealth of Virginia. Jushi will debut its brand The Lab, vaporizable cartridges, and Tasteology its chewable line. The company also plans to launch two flower brands as well.
JUSHF Stock Performance
JUSHF stock closed on September 3rd at $4.5535 down 3.32% in the past five days. The stock has a 52-week price range of $1.95-$9.063 and is down 22.30% year to date. According to analysts at Tip Ranks JUSHF stock has a 12-month average price target of $8.42 per share. In essence, this would represent an upside of 84.81% from its last trading price of $4.55. At the present time, JUSHF stock could be a top cannabis stock for your watchlist in September.
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Columbia Care Inc.
As one of the major players in New Jersey, Columbia Care Inc. is positioned to grow rapidly after legalization is complete in the state of New York. Recently, an acquisition of a 34-acre Long Island cultivation site has given the company one of the largest cannabis footprints to service the East Coast market. As it stands, Columbia Care operates in 18 US markets and operates 130 facilities including 99 dispensaries and 31 cultivation and manufacturing facilities. In July the company announced the launch of West Virginia market operations. Columbia Care expects to begin cultivation operations in the state at its Falling Waters facility.
In August the company delivered its second-quarter 2021 results with a record quarterly revenue of $109.7 million up 232% year over year. As a result, Columbia Care saw record quarterly adjusted gross profits of $47.7 million an increase of 300% year over year. The company also has a record adjusted EBITDA of $16.4 million up $21.1 million year over year. Recently, the company completed the acquisition of Green Leaf Medical establishing a market-leading position in the mid-Atlantic. With this, Columbia Care appointed Phillip Goldberg of Green Leaf Medical To its Board of Directors. In September the company has received state approval to rebrand its retail footprint across all its 14 locations in Florida.
CCHWF Stock Performance
CCHWF stock closed on September 3rd at $4.42 up 8.33% for that trading day. The stock has a 52-week price range of $3.14-$7.89 down 26.94% year to date. According to analysts at Market Beat CCHWF stock has a consensus price target of $12.63 per share. In this case, this would represent an upside of 185.6% from its last trading price of $4.42. For this reason, CCHWF stock could be a top marijuana penny stock for 2021.
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TPCO Holding Corp.
TPCO Holding Corp. is considered one of the largest cannabis operators in California. Initially, the company is composed of direct-to-consumer platform Caliva and hemp manufacturer Left Coast Ventures. Additionally, TPCO also has involved icon and entrepreneur Shawn Jay-Z Carter. In detail, Carter is the Chief Visionary Officer and brand strategist for TPCO. Roc Nation is involved in the partnership providing artists, athletes, and influencers to establish brands. In August the company introduced Troy Datcher as the Company’s new Chief Executive Officer, effective Sept 8th. Datcher’s appointment represents the first time a Black CEO will lead a major public U.S. cannabis organization.
In August TPCO also provided its second quarter 2021 earnings with net sales of $54.2 million. Primarily, this revenue is comprised of $11.9 million in direct-to-consumer revenue and $42.3 million in wholesale revenue. The company delivered, gross profit for Q2 2021 of $8.1 million or 15% of net sales. In 2021 the company launched Shawn “JAY-Z” Carter’s MONOGRAM a high-end premium cannabis product with reimages of iconic photos of American photographer Slim Aarons. Also, TPCO has three streamlined facilities producing 8 core brands with a focus on higher-margin product offerings. Recently, the company made its first inaugural investments in Black and women-led businesses. To close August TPCO expanded its product portfolio with the launch of well by Caliva lotions and tinctures.
GRAMF Stock Performance
GRAMF stock closed on September 3rd at $3.794 down 9.45% in the past month. The stock has a 52-week price range of $3.484-$13.962 and is down 62.51% year to date. According to analysts at Tip Ranks GRAMF stock has a 12-month average price target of $7.25 per share. In essence, this would represent an increase of 91.09% from its last trading price of $3.79 per share. As the cannabis sector starts seeing some upside GRAMF stock could be one of the best marijuana penny stocks for your list next week.
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