Top Pot Stocks In 2021
Are you looking for ways to invest in top marijuana stocks while they are down in the market? For over six months the cannabis sector has experienced declines while the rest of the market moved higher. This has left the best cannabis stocks to invest in trading near their lowest market value in 2021. In the US leading cannabis companies have continued to deliver strong revenue growth in their latest earnings results. Although this has not had any positive effects on how pot stocks perform in the market it does show strength in the cannabis industry.
Evidently, the cannabis market continues growing on the state level as investors wait for federal cannabis legalization to pass. But with Congress not showing any sign of introducing cannabis reform right now top marijuana stocks saw significant declines in August. For cannabis investors, this could be a good time to find top pot stocks for your list in September.
In the US MSOs continue to perform at a higher level than Canadian LPs. Ultimately without the US establishing federal cannabis reform, the Canadian LPs are limited in their growth prospects. On the other hand, US companies are expanding rapidly across American using M&As to increase their presence. In the US more states are establishing legalized cannabis that continues to fuel market growth.
Investing In The Cannabis Sector In Q4 2021
For investors, the current cannabis sector could deliver some returns from current trading levels. Finding the best pot stocks to buy requires some due diligence on leading companies. Researching a company’s earnings and studying how the stock performs in the market can help you establish the best returns on your investments. In general, some of the top-tier MSOs could see some upside from current trading levels. In the next five years, cannabis sales in the US are expected to more than double and the best-positioned cannabis companies could gain substantial market share.
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On that note, we can research some top-tier US cannabis companies you may not be familiar with. As it stands these companies are performing at high levels in the cannabis market. In the future, one major catalyst for the cannabis industry could be federal cannabis legalization and reform. As we start September let’s look at 2 of the best marijuana stocks for your list right now.
Best US Marijuana Stocks September 2021
- Verano Holdings Corp. (OTC: VRNOF)
- Cresco Labs Inc. (OTC: CRLBF)
Verano Holdings Corp.
First on the list is Verano a vertically integrated MSO providing regulated cannabis products to US cannabis consumers. Specifically, the company produces premium cannabis products sold under its portfolio of consumer brands. At the present time, Verano has its footprint in 14 U.S. States, with active operations in 11 at the present time. Right now, the company has 85 operational dispensaries, and 10 cultivation and processing facilities. Currently, the company has 40 dispensaries in Florida. Verano expects to surpass 90 dispensaries in 2021. In detail, 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. As a result, 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. Verano announced second-quarter 2021 financials with record revenue of $199 million an increase of 164% year over year. As a result, gross profit on an unadjusted basis was $100 million or 50% of revenue.
VRNOF Stock Performance
VRNOF stock closed on August 31st at $11.30 down 5.89% in the past five days. The stock has a 52-week price range of $11.00-$28.00 and has declined 48.47% year to date. According to analysts at Tip Ranks VRNOF stock has a 12-month average price target of $34.64 per share. In this case, this would represent an upside of 206.53% from its last trading price of $11.30. As a Top tier MSO VRNOF stock could be one of the best marijuana stocks to invest in right now.
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Cresco Labs Inc.
Overall, Cresco Labs Inc is one of the largest vertically integrated cannabis companies in the US market. Currently, the company is considered the number one wholesaler of branded cannabis products in America. Cresco operates 33 retail locations across 10 states with 18 production facilities and 44 retail licenses. Recently, the company opened its fourth Sunnyside dispensary in Pennsylvania as the company expands into other key markets. In addition, the company announced a portfolio expansion of its Good News brand with more selections in the edibles and vaping areas. Some of the new products under the Good News brand Cresco is launching are Counting Sheep, Day Off, and Pride products. Primarily, these edibles and vape products will be available in California, Illinois, and Michigan.
Recently, the company announced the acquisition of Blair Wellness Center a Maryland dispensary. In August Cresco announced its second-quarter 2021 results with record revenue of $210 million and reaffirmed its annualized revenue guidance of $1 billion in 2021. 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. As it stands, the company expects gross profit margins of more than 50% for the remaining two quarters of 2021.
CRLBF Stock Performance
CRLBF stock closed on August 31st at $9.90 down 7.03% in the last month of trading. The stock has a 52-week price range of $5.33-$17.49 and is almost flat year to date. According to analysts at Market Beat CRLBF stock has a consensus price target of $23.88 per share. In essence, this would be a gain of 141.2% from its current price of $9.90. Heading into the fourth quarter CRLBF stock could be a top cannabis stock to invest in for September.
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