Top Cannabis Stocks In Q4 2021
Are you looking for the best marijuana stocks to buy in September? This month some of the top cannabis stocks to invest in are trading near their lowest market values seen in 2021. In general, the US cannabis industry is one of the fastest-growing cannabis markets globally. In the past few years, there has been a massive expansion across the country as new states legalize cannabis use.
Leading cannabis companies are using mergers and acquisitions to quickly grow their presence in the American cannabis market. Because of this growth top-tier MSOs have delivered strong revenue growth in the first half of 2021. Additionally judging from their guidance this growth is expected to continue for the rest of the year. According to a new BDSA report, global cannabis sales are expected to be near $31 billion in 2021 increasing 41% year over year. By 2026 this BDSA forecast is estimating cannabis sales will grow to $62.1 billion.
With significant growth happening in the US market-leading cannabis companies could continue growing their market share in this industry. For the most part, US pot stocks have a potential catalyst on the horizon this month. In Congress, a defense bill with a marijuana banking reform amendment has been approved in the House. In the event this bill passes in the Senate this could be monumental for the cannabis sector.
How To Buy Marijuana Stocks And Invest In The Cannabis Industry
For investors, this could be a good time to find the best marijuana stocks for your list in September. Researching a company’s finances and studying how a stock performs in the market is a good way to narrow down which cannabis stocks to buy. In the US there are top pot stocks that could be primed to see upside from these trading levels. These leading companies are positioning themselves to grow with the market.
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As the market recovers from the decline associated with the Chinese property debt and the Evergrande company cannabis stocks could see some upward momentum. This week has been a volatile one for marijuana stocks and the decline in the cannabis sector has gone on for seven months. Historically September is known to be one of the worst trading months of the year and judging from the current market this is holding true. But with good news for the cannabis industry in the US, there is potential in top pot stocks. Let’s look at 2 top US marijuana stocks for your list this week.
Best US Marijuana Stocks Right Now In September
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. Primarily, the company is a leading and top-performing cannabis company that is in the process of making the acquisition of Harvest Health & Recreation Inc. (OTC: HRVSF). Notably, once complete the new company will have a consensus 2021 revenue of over $1.2 billion. Trulieve has 90 stores in Florida, and 100 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. On September 13th 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. Additionally, 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. 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 Performance
TCNNF stock closed on September 21st at $26.34 up 9.16% in the past five trading days. The stock has a 52-week price range of $16.70-$53.73 down 16.70% year to date. According to analysts at Tip Ranks TCNNF stock has a 12-month average price target of $60.81 per share. In essence, this would represent an upside of 130.87% from its last trading price of $26.34. As Trulieve continues to expand across the US, TCNNF stock could be one of the best US cannabis stocks to buy in 2021.
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Columbia Care Inc.
At the present time, 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 Care expects to begin cultivation operations in the state at its Falling Waters facility.
Also important, 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. On that note, the company has a record adjusted EBITDA of $16.4 million up $21.1 million year over year. Recently, Columbia Care completed the acquisition of Green Leaf Medical establishing a market-leading position in the mid-Atlantic. In September the company has received state approval to rebrand its retail footprint across all its 14 locations in Florida. In addition, Columbia Care is celebrating the start of whole flower cannabis sales in Virginia.
CCHWF Stock Performance
CCHWF stock closed on September 21st at $4.025 up 13.38% in the past five trading days. As it stands CCHWF stock has a 52-week price range of $3.14-$7.89 and is down 33.47% year to date. According to analysts at Market Beat CCHWF stock has a consensus forecast price target of $12.50 per share. In this case, this would represent an increase of 210.6% from its last trading price. As the cannabis sector starts heating up CCHWF stock could be one of the best marijuana stocks right now.
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