Cannabis Stocks To Invest In For 2021
Are you looking for top marijuana stocks to invest in right now? After months of seeing declines in value, the cannabis sector has a few catalysts coming from the US government. Last week the House passed the SAFE Banking Act for the fifth time. In addition, this week the House will vote on the MORE Act which would legalize marijuana use on the federal level. This year federal cannabis legalization and reform has been one of the few events that have moved the cannabis sector higher in the market.
Although in 2021 leading cannabis companies have reported strong revenue growth and great earnings it has not translated to gains in the market. As the markets continue to show some upward momentum top pot stocks are benefiting from the uptrend. Currently, some of the best marijuana stocks to invest in have bounced off their lowest price points this year in September.
Last Monday as the market had a sell-off some top cannabis stocks reached their lowest trading prices in 2021. With possible legislation that will change federal policy on marijuana the best marijuana stocks to buy could see more upside this week. For investors, this could be a good time to add some of the best US pot stocks to your watchlist. In general, most top cannabis stocks could deliver some decent returns from current trading levels.
How To Buy Cannabis Stocks And Make Better Investments
For investors, researching a company thoroughly is interictal to making a good investment. Looking into a company’s earnings and getting familiar with how the stock moves in the market can help you achieve the best returns on your investments. In general marijuana stocks are known for being some of the more volatile stocks in the market. This could be seen in the price fluctuations pot stocks have experienced this year alone.
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When we saw a similar scenario with federal legislation earlier this year the best cannabis stocks to buy rallied in the first quarter. US marijuana legalization could be a key growth factor for your US pot stock list going into 2022. In the US top-tier cannabis companies could have value for short-term and long-term investors in the future. Some of the US companies are now the largest cannabis companies in the world and have seen triple-digit revenue growth year over year. Let’s look at possibly 2 of the best US marijuana stocks for your list before October.
Best Marijuana Stocks To Watch Right Now
Verano Holdings Corp.
Verano is 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. Specifically, Verano has active operations in 11 states at the present time. Notably, 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. In detail, Verano announced second-quarter 2021 financials with a record revenue of $199 million an increase of 164% year over year. Gross profit on an unadjusted basis was $100 million or 50% of revenue.
VRNOF stock closed on September 24th at $11.87 down 1.33% in the past five trading days. The stock has a 52-week price range of $10.99-$28.00 and is down 35.15% in the past six months. According to analysts at Tip Ranks VRNOF stock has a 12-month average price target of $34.57 per share. This average would represent an increase of 191.24% from its current trading price of $11.87.
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Curaleaf Holdings, Inc.
At the present time, Curaleaf Holdings, Inc. is an industry leader that provides packaged cannabis products and operates 109 retail locations nationwide. Additionally, the company has also begun expanding with Curaleaf International advancing the accessibility of medical cannabis products in Germany through its wholly-owned subsidiary Adven GmbH. In August Curaleaf is preparing to serve New Jersey’s market with a new location its third dispensary in the state. At the present time, the company has the popular brand Select as one of its leading brands in the US.
Curaleaf reported record second-quarter 2021 results with revenue of $312 million. Its second-quarter revenue is up 20% from Q1 2021 and 166% year over year. Notably, the company reported second-quarter 2021 adjusted EBITDA of $84 million up 201% year over year. As a result, gross margins reached about 50% driven by higher yields at existing facilities. During Q2 the company opened another five dispensaries and continues to expand its footprint in the third quarter.
CURLF stock closed on September 24th at $12.29 up 7.24% in the last five trading days. Currently, the stock has a 52-week price range of $6.95-$18.38 and is up 2.66% year to date. According to analysts at Market Beat CURLF stock has a consensus forecast price target of $24.79 per share. In this case, this would be an upside of 101.7% from its last trading price of $12.29. As the possibility of getting US marijuana legalization accomplished in the fourth quarter, these could be the best marijuana stocks to buy in 2021.
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