Best Cannabis Stocks In September 2021
To start September the best marijuana stocks began to show some upside in the market. After losing significant value for the past six months, it could be time for a change in trend for top pot stocks. In the US cannabis companies have been delivering strong earnings that have not had any impact on the market. For most of 2021, it seems the cannabis sector is experiencing declines because Congress has not passed federal cannabis legalization and reform.
In the fourth quarter of 2021, we could see the introduction of some form of cannabis reform. In the event, this occurs it could create some upside for top cannabis stocks to buy this year. At the present time, US MSOs are expanding rapidly across the US establishing their market share in the growing cannabis industry. Many analysts believe US cannabis sales are going to more than double in the next five years.
According to a report by Statista sales of recreational cannabis are expected to reach an estimated $42 billion by 2026. For comparison in 2020 cannabis sales in the US came in at $18.9 billion. In the next few months, we could see more states like New Jersey starting their cannabis programs creating new markets for the industry. It’s safe to say that the US cannabis industry and its top-tier companies could be a good place to invest in cannabis long term.
Finding The Best Pot Stocks To Buy Now
For investors researching a companies earnings and studying its stock performance in the market is a good way to establish the best positions. Currently for many retail investors buying top US marijuana stocks is not possible because they trade on the OTC markets. Right now, popular apps like Robinhood and WeBull do not allow the purchase of stocks on the OTC.
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This has ultimately kept US MSOs from the fastest-growing retail community in the modern day. Seasoned cannabis investors buy these cannabis stocks using other major trading platforms like E*TRADE, TD Ameritrade, or Charles Schwab. On that note let’s look at 3 top marijuana stocks to watch for next week’s list.
Best US Marijuana Stocks In September 2021
- Ayr Wellness Inc. (OTC: AYRWF)
- Verano Holdings Corp. (OTC: VRNOF)
- Curaleaf Holdings, Inc. (OTC: CURLF)
Ayr Wellness Inc.
At the present time, 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. Recently, the company has entered the Illinois market with the acquisition of Herbal Remedies Dispensaries, LLC. Additionally, Ayr received a provisional license to sell adult-use cannabis at greater Boston dispensaries in Massachusetts. Ayr has also agreed to acquire Tahoe Hydro an award-winning cultivator and high-quality cannabis flower produce in Nevada. In August Ayr Wellness Partner Land of Lincoln was awarded a retail dispensary license in Illinois through the state’s lottery.
On August 16th Ayr reported its second-quarter 2021 results with revenue of $91.3 million up 222% year over year. The company 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. This 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 closed on September 3rd at $24.35 down 16.32% in the last month.
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Verano Holdings Corp.
Similarly, Verano a vertically integrated MSO providing regulated cannabis products to US cannabis consumers. Primarily, the company produces premium cannabis products sold under its portfolio of consumer brands. In detail, Verano has a 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. Namely, the company operates dispensaries under retail brands Zen Leaf™ and MÜV™ catering to both medical and adult-use markets.
Recently, Verano completed the acquisition of TerraVida and The Healing Center. As a result, this acquisition gives Verano six dispensaries in Pennsylvania. Additionally, the company will have a permit to build an additional three in the state. To illustrate, 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 closed at $12.75 on September 3rd up 11.35% in the last five trading days.
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Curaleaf Holdings, Inc.
As an industry leader Curaleaf Holdings, Inc. provides packaged cannabis products and operates 109 retail locations across the US. In addition, the company is expanding with Curaleaf International. Initially, advancing the accessibility of medical cannabis products in Germany through its wholly-owned subsidiary Adven GmbH. Recently, the company also launched B Noble Brand. A partnership between Curaleaf, Bernard Noble, and Fab Five Freddy to bring awareness of the need to reform cannabis laws. In August Curaleaf is preparing to serve New Jersey’s market with a new location its third dispensary in the state. This week in an interview on True Trading Group, Curaleaf founder Boris Jordan discussed how prepared his company was with cannabis products to supply the New Jersey market when it opens.
In August Curaleaf reported record second-quarter 2021 results with revenue of $312 million. Its second-quarter revenue is up 20% from Q1 2021 and 166% year over year. The company reported second-quarter 2021 adjusted EBITDA of $84 million up 201% year over year. Additionally, gross margins reached about 50% driven by higher yields at existing facilities. During Q2 the company opened another five dispensaries and continues to expand its footprint in the third quarter. CURLF stock closed on September 3rd at $12.09 staying flat in the last five trading days.
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