US Cannabis Stocks In 2021
Are you looking for the best ways to invest in top marijuana stocks in 2021? At the present time, the cannabis sector is down significantly from its high this year in February. For the past 8 months, we have seen the top cannabis stocks continue to a downtrend in the market. This is partly due to Congress not passing federal marijuana legalization and reform earlier this year.
Now in the fourth quarter lawmakers in the House have again passed cannabis banking reform and marijuana legalization in the last month. Now as these bills make their way to the Senate the possibility of seeing the end of cannabis prohibition increases. Currently, the top pot stocks to buy have fallen to the lowest trading levels seen in 2021. This could be an opportunity for investors looking to start positions in the cannabis sector this year.
Although US cannabis companies have been delivering strong earnings so far this year it has not translated into gains in the market. As the US market continues to grow the best-positioned cannabis companies are expanding rapidly. In the next five years, legal US cannabis sales are forecast to more than double. This shows substantial growth potential for the market and the top companies leading the industry.
Investing In US Pot Stocks And Researching Cannabis Companies
For investors, it’s important to research a company’s earnings and follow how the stock performs in the market. This will help you pick the best companies and entry points for your investments. With a potential catalyst for the cannabis market brewing in Congress, it could be time to find top marijuana stocks to invest in right now. From current trading levels, many analysts are forecasting substantial upside for US pot stocks. In the event the government passes cannabis reform before the end of the year we could see a rally in the best cannabis stocks.
This week in trading top marijuana stocks have seen substantial market volatility. Now as the market begins to improve, we could see some upside from the top cannabis stocks in October. In addition, many of the leading cannabis companies are expected to report financials in November. This could also have a positive effect on the cannabis sector in the future. Let’s look at 2 of the best US marijuana stocks for your list before next week.
Best US Marijuana Stocks For Your Watchlist In Q4 2021
Ayr Wellness Inc.
At the present time, Ayr Wellness Inc. is the fourth largest US MSO in the Florida cannabis market. Currently, Ayr has 42 operating dispensaries in Florida and a total of 59 stores nationwide. To highlight, the company entered the Illinois market with the acquisition of Herbal Remedies Dispensaries, LLC. Ayr received a provisional license to sell adult-use cannabis at greater Boston dispensaries in Massachusetts. In addition, Ayr has also agreed to acquire Tahoe Hydro an award-winning cultivator and high-quality cannabis flower produce in Nevada. In September the company signed an agreement to acquire the owner of Levia cannabis-infused hard seltzers. On October 4th the company closed the acquisition of PA Natural Medicine LLC giving AYR a strong presence in Pennsylvania.
Ayr reported its second-quarter 2021 results with revenue of $91.3 million up 222% year over year. The company adjusted EBITDA was $27.4 million on a US GAAP basis up 225% year over year. Ayr sustained a US GAAP operating loss of $24.9 million which included one-time expenses, and non-operating adjustments of $52.3 million. The company raised its 2022 revenue target to $800 million with a $300 million AEBITDA. In addition, Ayr provided a 3Q 2021 guidance of $100 million in revenue.
AYRWF stock closed on October 14th at $22.50 down 10.36% in the past five trading days. Currently, the stock has a 52-week price range of $20.00-$37.50 and is down 5.38% year to date. According to Tip Ranks AYRWF stock has an average 12-month price target of $55.82 an upside of 148.09%.
[Read More] Top Marijuana Penny Stocks To Watch Mid October
Verano Holdings Corp.
Next on the list is Verano one of the largest MSOs providing regulated cannabis products to US cannabis consumers. Primarily, the company produces premium cannabis products sold under its portfolio of consumer brands. As it stands, Verano has active operations in 11 states at the present time. To highlight, the company has 86 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.
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. Notably, 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 on October 14th at $11.15 down 1.76% in the last five days of trading. Currently, the stock has a 52-week price range of $10.14-$28.00 and is down 39.07% in the past six months. According to analysts at Market Beat VRNOF stock has a consensus price target of $34.33 per share. In this case, this would represent an upside of 207.9% from its last trading price. In the US these pot stocks could be some of the best ways to invest in top marijuana stocks in 2021.
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