Top Cannabis Stocks And The US Market In 2021
Are you looking for the best ways to invest in top marijuana stocks in 2021? As the cannabis sector continues trading near its lows this year investors are keeping a close eye on developments in Congress. At the present time, the House has passed the SAFE Banking Act and the MORE Act in the last month. Soon after Senate Majority Leader Chuck Schumer made a statement that he would not pass cannabis banking reform before marijuana legalization.
Although this puts more delays on the process and could push back cannabis federal decriminalization and reform until 2022 it does show progress with lawmakers. For most of 2021, this has caused much of the declines in top marijuana stocks to invest in. Now the question is, will the cannabis sector reach the levels we saw on February 10th? Many analysts currently think once federal prohibition ends the cannabis market will begin to regain some upward momentum.
In the meantime, leading cannabis companies have continued to deliver strong earnings and revenue growth in their latest financials. With another round of these financials starting next month, we can begin to research the best-performing companies. In the US the cannabis industry is expanding rapidly with new states legalizing marijuana. In the US cannabis market, there are a few top-tier MSOs that could lead the industry as it grows in the next five years.
US Cannabis Industry The Top US Pot Stocks In Q4 2021
In general, some of these US marijuana companies have now become some of the largest cannabis companies in the world. For the most part, the US cannabis market will be one of the largest markets globally. Recently mergers and acquisitions have been the source of rapid expansion in the market. For investors looking to invest in pot stocks, this could be an opportunity to start positions at lower price points.
In September the cannabis sector took a big hit that left the best marijuana stocks to buy at levels that could produce gains for traders. Before investing in top cannabis stocks, it’s important to do your research and due diligence on a company. Following how a stock performs in the market and researching the earnings can help you find the best positions for your investments. As top cannabis stocks continue consolidating at these lower levels it could be time to make a list of the top cannabis stocks to invest in.
Best Marijuana Stocks For Your Watchlist In October
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. has the largest market share in Florida with more than 50% of the legal cannabis sales in the state. In general, the company is a leading and top-performing cannabis company, and to start October closed the acquisition of Harvest Health & Recreation Inc. As a result, the company will have a consensus 2021 revenue of over $1.2 billion. Trulieve has 93 stores in Florida, and 103 nationwide, growing strategically in new markets. Also, this month the company announced the launch of a brand portfolio that includes four brand designs tailored to meet the needs of new cannabis consumers and connoisseurs. In September Trulieve debuted a new line of concentrates using hydrocarbon extracts. Specifically, Hydrocarbon extracts offer patients high-quality, full-spectrum concentrates as a uniquely powerful, aromatic, and high purity medicine.
Trulieve received a production license approval in Georgia giving the company further presence in the Southeast cannabis market. In addition, the company opened its first dispensary in the state of Massachusetts adding another market it can produce growth in. Trulieve reported its second-quarter 2021 financial results with a record-breaking performance. As a result, the company achieved its 14th consecutive quarter of profitability has served over 500,000 cannabis customers. In detail, the company saw revenues of $215.1 million and generated a net income of $40.9 million. TCNNF stock closed on October 8th at $29.57 per share up 4.84% up 11.40% in the past month.
Verano Holdings Corp.
Second is Verano one of the largest MSOs providing regulated cannabis products to US cannabis consumers. Primarily, the company produces premium cannabis products sold under its portfolio of consumer brands. At present time, Verano has active operations in 11 states at the present time. Notably, the company has 86 operational dispensaries nationwide, and 10 cultivation and processing facilities. In Florida, the company has 38 dispensaries which is a significant presence in that market. Overall, Verano expects to surpass 90 dispensaries in 2021. Namely, the company operates dispensaries under retail brands Zen Leaf™ and MÜV™ catering to both medical and adult-use markets.
Verano completed the acquisition of TerraVida and The Healing Center. Ultimately, this acquisition gives Verano six dispensaries in Pennsylvania and a permit to build an additional three in the state. Earlier in the year, the company opened a flagship Pittsburgh dispensary with a four-lane drive-through. In detail, Verano announced second-quarter 2021 financials with a record revenue of $199 million an increase of 164% year over year. Gross profit on an unadjusted basis was $100 million or 50% of revenue. VRNOF stock closed on October 8th at $11.07 down 12 .50% in the past month of trading.
Cresco Labs Inc.
Last on the list is Cresco Labs Inc another one of the largest vertically integrated cannabis companies in the US market. Primarily, the company is considered the number one wholesaler of branded cannabis products in America. In addition, according to a new BDSA report is the leading cannabis brand in Illinois and Pennsylvania. At the present time, Cresco operates 33 retail locations across 10 states with 18 production facilities and 44 retail licenses. To highlight, the company opened its fourth Sunnyside dispensary in Pennsylvania as the company expands into other key markets. Also, the company announced a portfolio expansion of its Good News brand with more selections in the edibles and vaping areas. In October the company is shifting to owned brand distribution in California to increase profitability and reduce third-party distribution.
Cresco announced the acquisition of Blair Wellness Center a Maryland dispensary. In its latest financials, Cresco announced its second-quarter 2021 results with record revenue of $210 million. In addition, the company reaffirmed its annualized revenue guidance of $1 billion in 2021. As a result, the company delivered gross profits excluding fair value markups of $107 million or 51% of revenue. Cresco has a net income of $2.7 million and an adjusted EBITDA of $45.5 million. For its outlook, the company expects gross profit margins of more than 50% for the remaining two quarters of 2021. The company will report its third-quarter 2021 results on November 11th before the market opens. CRLBF stock closed on October 8th at $8.17 down 8.69% in the past five trading days.
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