Top US Marijuana Stocks In September 2021
This week top marijuana stocks have given back most of the upside established in September. In a rough week for cannabis investors, many top cannabis stocks have fallen back significantly. Although this is unfortunate for current investors it does present an opportunity for new investors to establish positions at lower price points. In the US leading cannabis companies have continued to deliver substantial revenue growth and strong earnings in 2021. For the most part, this has not impacted the cannabis sector and many of the top pot stocks to buy continue pulling back right now.
Since the presidential election, the best marijuana stocks to invest in have shown upside in the market when federal cannabis legalization and reform showed progress. Now after nine months of waiting for Congress to act investors are finding value in other areas of the market. But cannabis sales in the US continue to increase as more states legalize cannabis either for medical use or recreational. As the market grows leading cannabis companies are expanding quickly using M&As to build their presence.
While states like New Jersey and New York begin to implement new cannabis laws the industry is flourishing. In fact, many leading US MSOs are reporting revenue increases in the triple-digit percentage range. In the fourth quarter, the cannabis sector needs action from Congress to change directions. Generally, if lawmakers would pass The SAFE Banking Act before the end of the year, we could see some upward momentum from pot stocks.
Making Top Pot Stock Investments In 2021
For investors looking for the best cannabis stocks for your list right now, many top marijuana stocks could hold value. Researching different companies and studying how the stock performs in the market can help you make the most gains with your investments. Many analysts are predicting some upside for the cannabis sector from these trading levels. In 2021 pot stocks have shown they are a high volatility investment.
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Some top pots stocks are now trading at penny stock levels which gives investors the opportunity to establish large positions with less capital. Although some penny stocks are considered short-term plays these cannabis stocks could have some long-term potential. Others have declined and are trading near their lowest market values in 2021. In any case, let’s look at 2 top US MSOs for your list right now.
Best US Marijuana Stocks To Watch Right Now
Ayr Wellness Inc.
Ayr Wellness Inc. has become the fourth largest cannabis company in the Florida cannabis market. Currently, Ayr has 38 operating dispensaries in Florida and a total of 52 stores nationwide. At the present time, the company has entered the Illinois market with the acquisition of Herbal Remedies Dispensaries, LLC. In addition, Ayr received a provisional license to sell adult-use cannabis at greater Boston dispensaries in Massachusetts. Specifically, Ayr has also agreed to acquire Tahoe Hydro an award-winning cultivator and high-quality cannabis flower produce in Nevada. Also, Ayr Wellness Partner Land of Lincoln was awarded a retail dispensary license in Illinois through the state’s lottery process. In September the company signed an agreement to acquire the owner of Levia cannabis-infused hard seltzers.
In August Ayr reported its second-quarter 2021 results with revenue of $91.3 million up 222% year over year. The company’s adjusted EBITDA was $27.4 million on a US GAAP basis up 225% year over year. However, Ayr sustained a US GAAP operating loss of $24.9 million which included one-time expenses, and non-operating adjustments of $52.3 million. The company raised its 2022 revenue target to $800 million with a $300 million AEBITDA. In addition, Ayr provided a 3Q 2021 guidance of $100 million in revenue.
AYRWF Stock Performance
AYRWF stock closed on September 9th at $22.38 down 23.55% in the past month. The stock has a 52-week price range of $20.00-$37.50 and is down 5.88% year to date. According to analysts at Tip Ranks AYRWF stock has a 12-month average price target of $55.07 per share. In essence, this would represent a gain of 146.06% from its last trading price of $22.38. For this reason, AYRWF stock could be one of the best marijuana stocks to buy right now.
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Columbia Care Inc.
Next on the list is Columbia Care Inc. which is positioned to grow rapidly after legalization is complete in the state of New York. In 2021, 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. At the present time, 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 In particular, Care expects to begin cultivation operations in the state at its Falling Waters facility.
In its latest financials, 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. Notably, the company 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. Additionally, 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 9th at $3.873 down 20.31% in the last month of trading. The stock has a 52-week price range of $3.14-$7.89 and is down 35.98% 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 226% from its last trading price of $3.873. As we head into the weekend CCHWF stock could be one of the top cannabis stocks to invest in for September.
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