Top Cannabis Stocks 2021 And Q4 Market Performance
Are you looking for top marijuana stocks to buy in September? Going into this month the cannabis sector has seen significant declines for the past six months. Peaking in February the cannabis sector has lost significant value as the months pass and federal cannabis reform has not happened. Now some of the best cannabis stocks to invest in could be at decent levels to start a position or average down on an existing one.
For many cannabis investors, these past few months have been difficult to stomach especially if you are investing in cannabis on a long-term basis. Recent trading has top pot stocks at levels near their 2021 lows. In the US these same cannabis companies are delivering strong earnings and expanding rapidly across the growing US market.
As more states establish medical and recreational cannabis markets leading companies are using mergers and acquisitions to quickly create their presence. As these M&As take place these cannabis companies continue to deliver revenue growth at an impressive pace. In the US some of the top-tier MSOs are becoming much more interesting for long-term traders at current market value. In the event, Q4 holds some introduction of cannabis reform the cannabis sector could begin to see some upward momentum.
Investing In Pot Stocks In 2021
For investors, it’s always important to do your research on cannabis companies before investing. Finding the cannabis companies that are reporting the strongest earnings and watching for the best entry point for your investments can help you secure the largest returns. Overall, top cannabis stocks are known for having significant market volatility. In 2021 the first-quarter rally for the cannabis sector and the levels they are currently trading at are a testament to that.
Although pot stocks are higher-risk stocks, they may also produce significant upside as well. To begin September one area that more investors are focusing on is top tier MSOs. As some of the best-performing cannabis companies to invest in these companies have leveled up in 2021. Outperforming Canadian LPs significantly US companies have a couple of things holding them back from trading higher in the market.
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For one Canadian LPs trade on major US indexes giving them exposure to a broader market of retail investors using popular apps like Robinhood and WeBull to invest. On the other hand, US MSOs currently are not able to trade on these platforms because they trade on the over-the-counter market because they are federally illegal. Some of these cannabis companies could go on to become the largest cannabis companies in the world for years to come.
Best US Pot Stocks In 2021
- Green Thumb Industries Inc. (OTC: GTBIF)
- Trulieve Cannabis Corp. (OTC: TCNNF)
Green Thumb Industries Inc.
In the US Green Thumb Industries Inc. is a leading cannabis consumer packaged company that has established a strong presence in key markets across the country. Currently, Green Thumb has 64 retail locations across 14 states and recently expanded its footprint in Massachusetts through the acquisition of GreenStar Herbals, Inc. Additionally, GTI has licenses for 111 retail locations for future expansions. In the second quarter, GTI opened a Cookies on the Las Vegas Strip through an exclusive partnership with the privately-owned Cookies Brand. Green Thumb announced it closed the acquisition of Dharma Pharmaceuticals and is entering the Virginia cannabis market.
In August Green Thumb reported its second-quarter 2021 results with revenue of $221.9 million up 85.4% year over year. To highlight, for the first half of 2021 the company has delivered revenue of $416.3 million an increase of 87.3% from the previous year. Overall, this is the fourth consecutive quarter of positive GAAP net income with $22.1 million or $0.10 per diluted share. Green Thumb has an adjusted operating EBITDA of $79.3 million or 35.7% of revenue.
GTBIF stock is trading at $29.00 on September 2nd down 1.86% in the past five trading days. The stock has a 52-week price range of $11.60-$39.11 up 20.41% year to date. According to analysts at Tip Ranks GTBIF stock has a 12-month average price target of $48.64 per share. In this case, this would represent an increase of 68.19% from its current trading price of $29.00. For this reason, GTBIF stock could be one of the best US marijuana stocks for your list in September 2021.
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Trulieve Cannabis Corp.
Next on this list of top-tier MSOs is Trulieve Cannabis Corp. the cannabis company which holds the largest market share in Florida with more than 50% of the legal cannabis sales. At the present time, the company is in the process of making the acquisition of Harvest Health & Recreation Inc. (OTC: HRVSF). After the acquisition, the new company will have a consensus 2021 revenue of over $1.2 billion. Evidently, this would make Trulieve the largest revenue-producing cannabis company in the US. Specifically, the company has 91 stores in Florida, and 101 nationwide, growing strategically in new markets. On September 1st the company opened its newest dispensary in Oviedo, Florida.
The company also opened its first dispensary in the state of Massachusetts adding another market it can produce growth in. In August Trulieve reported its second-quarter 2021 financial results with a record-breaking performance. Notably, the company achieved its 14th consecutive quarter of profitability has served over 500,000 cannabis customers. As a result, the company saw revenues of $215.1 million and generated a net income of $40.9 million.
TCNNF stock close on September 2nd at $26.45 down 19.11% in the past month. The stock has a 52-week price range of $16.70-$53.73 and is down 16.35% year to date. According to analysts at Market Beat TCNNF stock has a consensus price target of $70.91 per share. In essence, this would represent an upside of 167.7% from its last trading price of $26.45. With this in mind, TCNNF stock could be a top US cannabis stock to buy in 2021.
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