US Marijuana Stocks In 2021 And Cannabis Market Performance
Are you looking for the best marijuana stocks to buy before November? In October most of the top cannabis stocks to invest in have dropped to the lowest price point investors have seen in 2021. After nine months of a downtrend for the cannabis sector, they could be primed to start to rebound. As the overall market continues to climb higher the cannabis sector would need Congress to produce a catalyst with federal marijuana legalization to see a turnaround.
In 2021 leading cannabis companies have been showing strong earnings growth and expanding rapidly. In addition, new companies have been going public and showing potential to gain their market share in the industry. Although this year’s earnings reports have not affected how pot stocks perform in the market it does show the companies that are performing well. As the industry continues to grow in the US these companies could grow significantly for the next five years.
Before investing in cannabis stocks there are some important factors to consider about the sector. First top pot stocks are known for having significant market volatility. This makes them a higher-risk investment with the potential for bigger gains and larger losses. But currently, investors can’t overlook the potential upside top marijuana stocks have at the present time.
Investing In Pot Stocks And Finding The Best Companies
Before investing in the best marijuana stocks, it’s important to do your own due diligence on a company. Researching a company’s financials and press releases can help you find the best companies to invest in. Additionally following how a stock behaves in the market can help you achieve the best entry points for your positions. Some investors make a watchlist of top pot stocks so they can study how a stock performs in the market. Let’s look at 2 top marijuana stocks for your list before November.
Top Cannabis Stocks For Your Q4 2021 Watchlist
Ascend Wellness Holdings, Inc.
AWH is a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts, and New Jersey. At the present time, AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products. Primarily, its business provides accessible retail experiences, trusted products, and exclusive brand partnerships. In addition, the company produces and distributes Ozone branded products. Specifically, the company’s cannabis product categories include flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products. AWH operates 17 retail locations and sells its products to third-party licensed cannabis retail stores. So far in October, ascend is expanding its vertically integrated footprint in Ohio.
AWH reported its second-quarter 2021 financial with net revenue of $83.4 million up 26.1% sequentially. To highlight, the company increased its 2021 full-year net revenue guidance to $330-$350 million. AWH sustained a net loss of $44.9 million in Q2 2021 mainly driven by a $32 million non-cash interest expense related to the company’s IPO completed in May of 2021. In 2021 the company added five new dispensaries year to date with 3 becoming operational in the second quarter. In September AWH announced it has brought legendary brand Lowell Smokes pre-rolls from Lowell Farms Inc. (OTC: LOWLF) to the Massachusetts market. The partnership is an expansion to a similar launch in Illinois by the two companies. The company is expected to release earnings on November 11th after the market closes.
AAWH stock is trading at $8.00 on October 26th down 8.60% in the past five trading days. Currently, the stock has a price range of $7.75-$9.21 and is down 12.97% in the last month of trading. According to analysts at CNN Business AAWH stock has a 12-month median price forecast of $16.00 per share. Essentially this would represent an upside of 100% from its current trading price. As a new IPO AAWH stock could be a top marijuana stock for your watchlist right now.
Glass House Brands Inc.
Next on the list is, Glass House Brands Inc. one of the fastest-growing, vertically integrated cannabis and hemp companies in the U.S. The company has is focusing on the California market and building leading, lasting brands to serve consumers across all segments. Essentially this is through its portfolio of brands, which includes Glass House Farms, Forbidden Flowers, and Mama Sue Wellness. In September the company completed a 5.5 million-square-foot Southern California greenhouse facility acquisition. The company also appointed Mark Vendetti as Chief Financial Officer.
In August Glass House reported its second-quarter 2021 results with net sales of $18.7 million an increase of 62% year over year. As a result, the company delivered gross profits of $8.7 million an increase of 56% from the previous year. Notably, the company had a gross margin of 46% in Q2 2021. In addition, the company had an adjusted EBITDA of $2.2 million a 100% increase from Q2 2020. Glass House will release its third-quarter 2021 financials on November 11th after the market closes.
GLASF stock is trading at $4.71 on October 26th and is down 8.57% in the past month. The stock has a price range of $4.20-$6.00 and is down 52.43% year to date. GLASF stock could have potential once the cannabis sector begins to see some upside from these levels. As a new pot stock in the market GLASF stock could be a cannabis stock for your watchlist this week.
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