Top Cannabis Stocks For Your List That Could Bounce Back

When it comes to the top five marijuana stocks to buy right now, you could probably say they are US pot stocks. In August most of the top cannabis stocks to invest in are seeing declines in the market as the industry delivers strong earnings and growth in recent financials. If you’ve been watching cannabis stocks in 2021. The first quarter represented a time where the cannabis sector peaked because investors thought federal cannabis legalization would happen quickly this year.

For the most part, US cannabis companies are outperforming Canadian ones in 2021. In fact, this can be seen as many leading cannabis companies report earnings at the current time. In the US states are reporting record-breaking cannabis sales in July. As it stands, more than half of Americans have now tried cannabis in some form and online cannabis sales continue to show a growing trend. But as the market continues to fall many top pot stocks continue to pull back further.

For new investors looking for marijuana stocks to invest in this could be a good time to find them at lower trading levels. Before investing in cannabis stocks traders should do their research and due diligence on a company. Researching a company’s financials and studying how they perform in the market can help you make better gains from your investments.

Pot Stocks And US Federal Cannabis Legalization

In the market, it seems many investors have chosen to sell on earnings this month after retail sales come in mixed on Wall Street. In general, this could solidify a new base for pot stocks to climb from soon. Although marijuana stocks continue to shed value the companies are performing well and see significant revenue growth in the future.

Any form of federal cannabis reform from Congress could kick-start some momentum for marijuana stocks. But with so many political events taking center stage currently, it’s more likely lawmakers will focus on recent events before they do cannabis legalization.

Finding the right stocks to buy could get difficult with so many options. Right now, many US cannabis companies are reporting solid earnings, and pot stock prices are at yearly lows. Picking the best marijuana stocks fear watch list and binding the better entry points can help you produce gains for your portfolio. Let’s take a closer look at 2 are the best US marijuana stocks to add to your list right now.

[Read More] These States Had Record-Breaking Cannabis Sales In July

Best Marijuana Stocks To Watch In August

  1. Verano Holdings Corp. (OTC: VRNOF)
  2. Cresco Labs Inc. (OTC: CRLBF)

Verano Holdings Corp.

In the US Verano is 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. Verano has its footprint in 14 U.S. States, with active operations in 11 at the present time. As it stands, the company has 84 operational dispensaries, and 10 cultivation and processing facilities. 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. To end July the company opened a flagship Pittsburgh dispensary with a four-lane drive-through. On August 13th the company opened its 36th MÜV™ dispensary in Florida and plans to open another one later this month. 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

VRNOF Stock Performance

VRNOF stock is trading at $12.27 on August 17th down 18.91% in the last five days. The stock reached its 52-week low of $12.16 in today’s trading and has a 52-week high of $28.00. According to analysts at Tip Ranks VRNOF stock has a 12-month average price target of $32.51 per share. From current trading levels, this would represent an increase of 165.17%. For this reason, VRNOF stock could be one of the best US marijuana stocks to buy in 2021.

[Read More] Top Pot Stocks To Buy In 2021? 2 US Marijuana Stocks For Your Watchlist

Cresco Labs Inc.

Cresco Labs Inc is one of the largest vertically integrated cannabis companies in the US market. At the present time, the company is considered the number one wholesaler of branded cannabis products in America. The company operates 33 retail locations across 10 states with 18 production facilities and 44 retail licenses. Cresco 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.

In today’s news, the company announced the acquisition of Blair Wellness Center a Maryland dispensary. On August 13th Cresco announced its second-quarter 2021 results with a 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. The company expects gross profit margins of more than 50% for the remaining two quarters of 2021.Crespo Labs

CRLBF Stock Performance

CRLBF stock is trading at $9.86 on August 17th down 10.45% in the last five trading days. The stock has a 52-week price range of $5.33-$17.49 and is up 2.48% year to date. CRLBF stock has declined by 37.57% in the last six months. According to analysts at Market Beat CRLBF stock has a consensus price target of $22.44 per share. In essence, this would represent an upside of 122% from its current trading level. With this in mind,  CRLBF stock could be a top marijuana stock for your list in mid-August.

[Read More] Best Marijuana Stock To Buy Before Next Week? 2 For Your Watchlist Right Now

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