Top Cannabis Stocks In September
Are you looking for the best marijuana stocks to invest in for 2021? Although this year has been volatile for cannabis stocks many leading cannabis companies have been reporting strong financials and growing quickly in 2021. After seeing significant upside in February most top pot stocks have suffered steep declines as the year progressed. Now in September many top marijuana stocks to invest in are trading near some of their lowest values seen this year. In some ways, this could be a good opportunity for investors looking to start a position in top cannabis stocks.
One catalyst that has started momentum in the cannabis sector in 2021 is federal cannabis legalization and reform. Recently, lawmakers in Congress introduced drug-policy-related amendments to defense legislation. One part of these amendments would stop financial regulators from penalizing banks and credit unions from doing business with state legalized cannabis companies. In fact, this amendment is identical to the SAFE banking Act and was introduced by the same Congressman Rep. Ed Perlmutter.
With this news, many of the top-tier US cannabis companies have seen some recent upside in the market. For instance, top marijuana stocks like Curaleaf Holdings, Inc. (OTC:CURLF) have regained most of the losses seen in the past five days. In general, most of the top US marijuana stocks have seen the same market trend. With some renewed interest in US pot stocks, this could be a good time to put some on your ticker list.
Top US Pot Stocks List And Trading The Cannabis Sector
For investors, it’s important to always do your own due diligence on a company before investing. Researching a company’s financial results and press releases can find the best companies to invest in. Additionally, studying how a stock moves in the market and finding the best entry for your position can help you achieve the best returns. Before investing in cannabis stocks, theirs a few important factors to consider.
[Read More] 2 Hot Marijuana Stocks For This Weeks Watchlist
For one the best marijuana stocks to buy are known for having significant market volatility. Namely, this is something short-term investors use to their advantage using day trading and swing trading methods. But there is also the possibility of long-term value from some of the leading cannabis companies. As the US continues to grow rapidly on the state level these companies are establishing their share of the market. Let’s look at 2 of the best US marijuana stocks for your list right now.
Top US Marijuana Stocks For Your List In September
Green Thumb Industries Inc.
First up, Green Thumb Industries Inc. is a leading cannabis consumer packaged company that has established a strong presence in key markets across the US. Currently, Green Thumb has 65 retail locations across 14 states and recently opened its third store in New Jersey. Additionally, GTI has licenses for 111 retail locations for future expansions. During the second quarter of 2021 GTI opened a Cookies on the Las Vegas Strip through an exclusive partnership with the privately-owned Cookies Brand. Green Thumb announced it closed the acquisition of Dharma Pharmaceuticals and is entering the Virginia cannabis market as well.
In August Green Thumb reported its second-quarter 2021 results with revenue of $221.9 million up 85.4% year over year. Notably, for the first half of 2021, the company has delivered revenue of $416.3 million an increase of 87.3% from the previous year. In fact, this is the fourth consecutive quarter of positive GAAP net income with $22.1 million or $0.10 per diluted share. Green Thumb has an adjusted operating EBITDA of $79.3 million or 35.7% of revenue.
GTBIF stock is trading at $27.45 on September 16th down 13.59% in the last month. The stock has a 52-week price range of $11.60-$39.11 up 11.63% year to date. According to analysts at Tip Ranks GTBIF stock has a 12-month average price target of $48.87 per share. In essence, this would represent an upside of 78.55% from its current trading price. For this reason, GTBIF stock could be one of the best US marijuana stocks for your watchlist right now.
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Verano Holdings Corp.
Next on the list is, Verano a vertically integrated MSO providing regulated cannabis products to US cannabis consumers. At the present time, the company produces premium cannabis products sold under its portfolio of consumer brands. Specifically, Verano has its footprint in 14 U.S. States, with active operations in 11 at the present time. Currently, the company has 85 operational dispensaries, and 10 cultivation and processing facilities. In Florida, the company has 40 dispensaries which is a significant presence in that market. Overall, 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.
Verano completed the acquisition of TerraVida and The Healing Center. Ultimately, 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 closed at $11.91 on September 16th down 6.14% in the last five days. The stock has a 52-week price range of $11.00-$28.00 and is down 50.59% in the last six months. According to analysts at Market Beat VRNOF stock has a consensus price target of $32.67 per share. In this case, this would represent an increase of 175.1% from its current trading price of $11.91. With this in mind, VRNOF stock could be a top cannabis stock for your list in September.
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