Top Cannabis Stocks In Q4 2021
Are you looking for the best marijuana stocks to invest in for September? With the cannabis sector sustaining six months of declines most top cannabis stocks to buy could offer some upside for investors from current market value. In the US leading cannabis companies have been reporting strong earnings and revenue growth in this latest round of financials.
Unfortunately for investors, this has not had any impact on how the cannabis sector has been trading in the market. Instead, top pot stocks continue to trade near their lowest levels in 2021. One factor that’s taken its toll on the cannabis sector is federal cannabis legalization and reform. This summer Senate Majority Leader Chuck Schumer unveiled a draft of the Cannabis Administration and Opportunity Act to gain support for the legislation.
Now in the fourth quarter of 2021 cannabis investors are hoping to see this legislation introduced for a vote in Congress. In the event, any form of federal cannabis reform is passed this could be a huge catalyst for top cannabis stocks. To illustrate in the past any mention of federal cannabis reform has stimulated pot stocks this year. With other legislation like The SAFE Banking Act, and The MORE Act we saw significant upside when they passed in the House of Representatives.
Cannabis Industry Growth In 2021
Nevertheless, regardless of the federal prohibition on cannabis, on the state level, the cannabis industry is growing at a rapid pace. More states continue to implement cannabis legalization whether medical or recreational. This has continued to expand the market and give cannabis companies the ability to continue expanding their presence.
For investors, this could be a good time to put some top marijuana stocks on your list for September. Although these companies have seen declines in market value, they continue to perform at high levels in the cannabis market. Let’s look at 3 top marijuana stocks for your list before next week’s trading.
Best Cannabis Stocks For Your List Right Now
- Trulieve Cannabis Corp. (OTC: TCNNF)
- TerrAscend Corp. (OTC: TRSSF)
- Planet 13 Holdings Inc. (OTC: PLNHF)
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. is the cannabis company that holds the largest market share in Florida with more than 50% of the legal cannabis sales. As it stands, the company is in the process of making the acquisition of Harvest Health & Recreation Inc. (OTC: HRVSF). After the acquisition, the new company will have a consensus 2021 revenue of over $1.2 billion. Evidently, this would make Trulieve the largest revenue-producing cannabis company in the US. Right now, the company has 91 stores in Florida, and 101 nationwide, growing strategically in new markets. On September 1st the company opened its newest dispensary in Oviedo, Florida.
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. Notably, the company achieved its 14th consecutive quarter of profitability has served over 500,000 cannabis customers. As a result, the company saw revenues of $215.1 million and generated a net income of $40.9 million. TCNNF stock closed on September 3rd at $27.66 down 15.46% in the last month. The stock has a 52-week price range of $16.70-$53.73 and is down 12.52% year to date.
TerrAscend cultivates and sells medical and adult-use cannabis in Canada and the United States. At the present time, the company is a leading US cannabis operator with a footprint in Pennsylvania, New Jersey, and California. TerrAscend has licensed cultivation and processing facilities in Maryland and Canada. In addition, the company produces and distributes hemp and cannabis-derived products and manufactures artisan edibles for cannabis consumers. TerrAscend launched a portfolio of Kind Tree Branded products in Maryland. The Maryland facility was already producing 15 strains of flower under the Kind Tree brand and now will add vapes and half gran pre-rolls to the lineup.
On August 19th TerrAscend reported its second-quarter results with net sales of $58.7 million an increase of 72% year over year. As a result, the company delivered an adjusted gross profit margin of 61%in Q2 2021. In addition, the company has an adjusted EBITDA of $24.3 million up from $22.6 million in Q1 2021. In August TerrAscend signed an agreement to be the sole cultivator and manufacturer of COOKIES branded products in New Jersey and brings COOKIES to the three dispensaries it has in the state. TRSSF stock closed on September 3rd at $7.79 down 21.18% in the last month. The stock has a 52-week price range of $3.91-$16.25 and is down 32.44% year to date.
Planet 13 Holdings Inc.
Planet 13 announced the grand opening of its Orange County superstore which is now the largest dispensary complex in California. The company is based in Nevada, with award-winning cultivation, production, and dispensary operations on the Las Vegas strip. At the present time, the Las Vegas Strip Planet 13 is famous for its larger-than-life Superstore dispensary that’s housed in a 112,000 square foot building. As it stands, Planet 13’s two superstore dispensaries are said to be the largest in the world. Additionally, the company has also established a smaller model of its business the Medezin store which encompasses its larger store model and puts it in a compact form.
Planet 13 announced its second-quarter 2021 financials with revenue of $32.8 million up 205% year over year. In Q2 the company delivered an adjusted EBITDA of $7.2 million. Gross profits before biological adjustments were $18.7 million and an adjusted EBITDA of $7.2 million. Planet 13 sustained a net loss of $4.4 million and a net loss before taxes of $0.9 million. This month the company expects to launch Tinley’s products a selection of cannabis-infused beverages. On September 1st Planet 13 signed a definitive agreement to acquire a Florida Cannabis License. PLNHF stock closed on September 3rd at $4.9624 down 3.83% in the past month. The stock has a 52-week price range of $2.60-$8.67 and is down 11.31% year to date.
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