Top Cannabis Stocks To Watch In November 2021

In November many of the top marijuana stocks to buy are seeing upward momentum in the market. This comes after months of the best cannabis stocks to invest in seeing declines in 2021. At the present time, the most recent catalyst has come from the draft of Republican-led legislation the States Reform Act which could be introduced this month. To highlight Rep. Nancy Mace could have drafted a bill that meets stakeholders’ needs in a bipartisan manner.

Ultimately making cannabis federally rescheduled and treating marijuana like alcohol. As the possibility of federal cannabis reform looks promising the cannabis sector is beginning to move higher. In addition, this month most leading cannabis companies are delivering strong earnings and revenue growth as the cannabis market continues to grow on the state level.

Last week some of the leading US MSOs saw significant percentage gains in the market. As we get closer to seeing change on the federal level there are many strong US cannabis stocks to add to your watchlist in November. Researching these companies and finding the best-performing ones can help you establish better investments when it comes to pot stocks. Also studying how a stock performs in the market and establishing a good entry-level can help achieve the best returns on your investments.

Will Pot Stocks Continue To Rebound For Third Week In November?

As we start the third week in November the best marijuana stocks of 2021 could continue to push higher in the market. At the present time, there are many companies that are growing rapidly and could continue to be top-tier cannabis companies in the US market. For the long-term investor, these could be the best way to invest in a vertically integrated US industry leader. Let’s look at 2 of the best cannabis stocks to add to your watchlist right now.

[Read More] Top Marijuana Stocks To Watch Mid November

Top Marijuana Stocks To Watch This Week

  1. Trulieve Cannabis Corp. (OTC: TCNNF)
  2. Verano Holdings Corp. (OTC: VRNOF)

Trulieve Cannabis Corp.

First on the list is Trulieve Cannabis Corp. a top-performing cannabis company with approximately 46% of the market share in Florida. After closing the acquisition of Harvest Health & Recreation Inc. the company now has a consensus 2021 revenue of over $1.2 billion. At the present time, the company is a US industry leader with 155 retail dispensaries. Currently, the company has 3.5 million square feet of cultivation and processing capacity.  Trulieve received a production license approval in Georgia giving the company further presence in the Southeast cannabis market. Also important, the company opened its first dispensary in the state of Massachusetts adding another market it can produce growth in.

Earlier this morning on November 15th Trulieve delivered its third-quarter 2021 results showing its 15th consecutive profitable quarter. Specifically, the company’s net revenue increased to $224.1 million an increase of 64% year over year. As a result, Trulieve saw a gross profit of $153.9 million and a gross margin of 68.7%. Additionally, the company began its first cultivation operations in West Virginia and opened its first dispensaries in the state.

Words From The CEO

“Our team closed the Harvest acquisition in under five months while simultaneously meeting expansion targets in several markets. We are excited to keep the momentum going into 2022 as we fully integrate Harvest while further building scale and depth in our cornerstone markets.”

Kim Rivers, Trulieve CEO

TCNNF stock closed on November 12th at $30.96 up 7.28% for that trading day. Currently, TCNNF stock has a 52-week price range of $$23.38-$53.73 and has climbed 10.57% in the past five trading days. According to analysts at Tip Ranks TCNNF stock has an average price target of $64.92 per share. In this case, this would be a 109.69% gain from its last trading price of $30.96.

[Read More] Top US Cannabis Stocks To Buy In November? 2 To Watch As Pot Stocks See Gains

Verano Holdings Corp.

Next up is, Verano one of the largest multi-state operators providing regulated cannabis products to US cannabis consumers. Primarily, the company produces premium cannabis products sold under its portfolio of consumer brands. Presently, Verano has active operations in 11 states with 87 operational dispensaries nationwide, and 10 cultivation and processing facilities. In Florida, the company has 38 dispensaries which is a significant presence in that market. Verano expects to surpass 90 dispensaries in 2021. Specifically, the company operates dispensaries under retail brands Zen Leaf™ and MÜV™ catering to both medical and adult-use markets. In October the company opened a dispensary with a drive-through on Flamingo Road in Las Vegas.VRNOF

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. To highlight, Verano announced second-quarter 2021 financials with a 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. The company is expected to release its third-quarter 2021 results on November the 16th before the market opens.

VRNOF stock closed on November 12th at $13.86 up 7.36% for that trading day. Currently, the stock has a 52-week price range of $9.86-$28.00 and is up 22.44% in the past five trading days. According to analysts at Tip Ranks VRNOF stock has a 12-month average price target of $32.10 per share. In this case, this would represent a gain of 131.60% from its last trading price.

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