Finding Ways To Invest In The Cannabis Industry
In 2021 there are several different ways to invest in top marijuana stocks right now. For the past six months, investors have seen the cannabis sector decline substantially. After posting new highs in February most of the best cannabis stocks to invest in have seen a pullback in the market. At the present time, many top pot stocks are trading near their lowest price point so far this year. In many ways, this could be an opportunity for investors to find top marijuana stocks at better entry levels.
One area of the cannabis market that’s delivered gains for investors in the past is ancillary cannabis stocks. Ancillary cannabis companies are those companies that support the cannabis industry without touching the actual plant. In the US these companies have seen significant revenue growth and continue to increase their market share in the cannabis market. As the US market continues to move higher it seems at this point the cannabis sector has been left behind.
In general, the best cannabis stocks to buy right now have not seen any gains from the strong earnings most companies delivered in Q2 2021. Instead, they continued their downward trend from February to August. In the US the cannabis sector has shown upside when the federal government announces anything dealing with federal cannabis legalization and reform.
Finding The Best Cannabis Stocks To Invest In For September
As we enter September the cannabis sector’s rise seems to be associated with federal cannabis reform. Unfortunately, at this point, it’s taking much longer than investors expected. With so much growth on the state level lawmaker’s inability to end prohibition is taking its toll on top cannabis stocks.
Entering this month top marijuana stocks could be trading levels that could produce returns with a change in momentum. For investors finding the right cannabis stocks to buy right now requires some due diligence and market research. Overall researching a company’s financials and studying how a stock performs in the market can help you achieve the best results from your investments.
In the US there are leading cannabis companies that are growing rapidly but remain under the radar. With the cannabis sector trading at a lower market value, they could be positioned for some upside soon. Whether you’re looking for vertically integrated cannabis stocks or ancillary marijuana stocks it could be time to start a Q4 2021 watchlist this week.
Best Marijuana Stocks For Your List Right Now
WM Technology, Inc.
WM Technology, Inc.’s mission is to power a transparent and inclusive global cannabis economy. In its second decade, WM Technology could be considered a driving force behind much of the legislative change in the cannabis industry in the past 10 years. Weedmaps is an online listing marketplace for cannabis consumers and cannabis companies. Specifically, the cloud-based SaaS solutions from WM Business provide an operating system for cannabis retailers. WM Business’ tools support compliance with the complex, and constantly evolving regulations in the cannabis industry. In August Weedmaps announced a multi-year partnership with Kevin Durant, Thirty-Five Ventures, and a sponsorship deal with Boardroom.
To highlight, Weedmaps has an estimated 10 million monthly active users and approximately 18,000 business listings in the U.S. In August the company reported its second-quarter 2021 financials and 2021 outlook. Evidently, the company delivered second-quarter revenue of $47 million. In addition, total revenue grew 21% year over year with US revenue up 55% from the previous year. The company reaffirmed its prior full-year 2021 revenue of $205 million and adjusted EBITDA guidance of $50 million.
MAPS stock closed on September 1st at $14.14 up 7.04% in the last five trading days. The stock has a 52-week price range of $10.01-$29.50 and is up 10.73% year to date. According to analysts at CNN Business MAPS stock has a 12-month median price target of $18.50 per share. In essence, this would represent an upside of 31.11% from its last trading price of $14.14. As we start Q4 2021 MAPS stock could be a top marijuana stock for your list right now.
Ascend Wellness Holdings, Inc.
Next up for your list is AWH 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 the company provides accessible retail experiences, trusted products, and exclusive brand partnerships and 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. As it stands AWH operates 17 retail locations and sells its products to third-party licensed cannabis retail stores.
In August AWH reported its second-quarter 2021 financial with net revenue of $83.4 million up 26.1% sequentially. Notably, 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.
AAWH stock closed on September 1st at $10.29 down 4.63% in the last month. The stock has had a range since May 2021 of $9.31-$15.81 and is down 2% in the past five trading days. According to analysts at Wallet Investor AAWH stock has a 1year forecast price target of $15.36 per share. In this case, this would represent a gain of 49.25% from its current trading price. For this reason, AAWH stock is a new marijuana stock to add to your list in September.
[Read More] Top Canadian Cannabis Stocks In September 2021
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