The Best Marijuana Stocks Of 2021
Are you looking for top marijuana stocks to buy right now? This week the best cannabis stocks to invest in have a new possible catalyst developing in Congress. In specific lawmakers working on introducing the States Reform Act a Republican-led legislation that could establish federal marijuana legalization. In 2021 the cannabis sector has been negatively impacted by the delays in the Senate to pass federal cannabis reform.
While many analysts and investors believed federal legalization would have happened earlier in the year no official bill has been made to the Senate floor. Although this has resulted in declines in the market the US cannabis industry has continued to grow rapidly on the state level. In 2021 most leading US cannabis companies have delivered strong earnings this year. Unfortunately for investors, this has not produced any gains in the market for investors.
Instead, the best pot stocks to watch have declined after reaching new highs in February. In November before the announcement of the draft of the Republican-led bill the best marijuana stocks to buy were trading near their lowest price points seen this year. For investors, this could be a good time to find the top cannabis stocks for your list in November. At the present time, there are many ways to gain exposure to the growing American cannabis market.
Researching The Best Marijuana Stocks To Buy For The Rest Of 2021
Before investing in the cannabis sector there are many important factors to consider. For one top pot stocks are known for having significant market volatility. This could be seen by the price fluctuations in 2021 alone. Because of this volatility investor should always do their due diligence on a company before investing. Looking into a company’s financials and finding the best performers can help you find the best positions for your investment. In addition, before making an entry researching how a stock moves in the market can allow you to produce the largest gains.
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As leading cannabis companies deliver earnings in November traders can get an idea of how the market has continued to grow this year and who’s gaining market share in the industry. Currently, there are many ways to gain exposure to the US cannabis market. Some also give the investor exposure to the global market. This week we have seen top pot stocks begin to trade higher, for the most part, let’s look at 2 top cannabis stocks for your list in November.
Top Marijuana Stocks To Watch In 2021
- Ascend Wellness Holdings, Inc. (OTC: AAWH)
- Clever Leaves Holdings Inc. (NASDAQ: CLVR)
Ascend Wellness Holdings, Inc.
AWH is a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts, and New Jersey. In general, AWH owns and operates cultivation facilities, and grows award-winning strains, and produces a curated selection of products. To highlight, the company produces and distributes Ozone branded products. The company’s cannabis product categories include flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products. Overall, AWH operates 17 retail locations and sells its products to third-party licensed cannabis retail stores. 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. In detail, 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. Additionally, AWH announced it has brought the brand Lowell Smokes pre-rolls from Lowell Farms Inc. (OTC: LOWLF) to the Massachusetts market. The company is expected to release earnings on November 11th after the market closes.
AAWH Stock Performance
AAWH stock closed on November 10th at $7.49 up 4.76% in the last five trading days. Currently, the stock has a price range of $6.876-$9.21 and is down 16.78%% 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. In this case, this would represent an upside of 113.62% from its last trading price. AAWH stock is new to the market and could be a top marijuana stock to add to your watchlist right now.
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Clever Leaves Holdings Inc.
Clever Leaves Holdings Inc. cultivates, extracts, manufactures, and commercializes pharmaceutical-grade cannabinoid products for a global market. At the present time, the company has operations in Colombia, Portugal, Germany, the United States, and Canada. Primarily, the company operates through two segments, cannabinoid, and non-cannabinoid. In addition, it also engages in the formulating, manufacturing, marketing, distributing, and selling of homeopathic and other natural remedies, wellness products, and detoxification products. Clever Leaves aims to be one of the industry’s leading global cannabis companies recognized for its principles, people, and performance while fostering a healthier global community.
On November 10th Clever Leaves reported their third-quarter 2021 results. Specifically, the company delivered Q3 2021 revenue of a record $4.0 million with gross profit increasing 22% year over year. As a result, gross profit increased 22% to $2.5 million resulting in a 62.9% gross margin on a 1000-point basis. In fact, net income in the third quarter of 2021 increased to $1.0 million compared to a net loss of $6.1 million in Q3 2020. The company revised its revenue outlook and expects 2021 revenue of somewhere between $14-$16 million.
CLVR Stock Performance
CLVR stock closed on November 10th at $5.98 down 5.38% for the trading day. The stock has a 52-week price range of $5.87-$19.46 and is down 32.81% year to date. According to analysts at Tip Ranks CLVR stock has a 12-month average price target of $12.00 per share. This forecast represents an increase of 100.67% from its last trading price. Currently near its lows in the market CLVR stock could be a top cannabis stock for your list today.
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