3 Top Marijuana Stocks To Add To Your Watchlist This Month
It seems that marijuana stocks are feeling the impact of the hold-up with federal reform. Meaning that in the last week or so news has surfaced which is both bitter-sweet. So the bitter part would be the overwhelming bipartisan support for cannabis reform. This has left many leading politicians both Democrat and Republican fighting to get their bill passed first. Yet this is also causing a divide all at the same time.
This is due to wanting to be the initial party to enact the policy change. However, this has also caused another aggressive drop in the sector. Now the positive behind this bipartisan support is now all parties are for federal reform than ever before. Not to mention the Senate Majority Leader Chuck Schumer is also pushing a bill of his own.
Which is being done in conjunction with other leading politicians. As the cannabis industry awaits the eventual passing of the reform one can take advantage of this drop. Currently, another chance to find top marijuana stocks to buy has occurred. In the last 2 and half weeks of trading, many cannabis stocks were starting to see consistent upward trading. With this upward trading, it gave some shareholders a chance to take some profits. Yet as history has shown the consistency is not what it was once prior to early 2021.
Marijuana Stocks And The Growth Cannabis Sector
Nevertheless, there are still opportunities to be had in the sector. It seems that it’s all a waiting game. As investors are watching for the next run. Still, there is no official way to know when this recovery will take place. However, with the possible passing of federal reform, we may see it sooner than later. For now, investors are keeping an eye out for any changes in the market. Below are a few marijuana stocks to watch as the market is working to rise once again.
Top Marijuana Stocks To Watch In 2021
- Green Thumb Industries Inc. (OTC:GTBIF)
- Curaleaf Holdings, Inc. (OTC:CURLF)
- Trulieve Cannabis Corp. (OTC:TCNNF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. manufactures, distributes, and sells various cannabis products for medical and adult use in the United States. The company distributes its products primarily to third-party retail stores. As well as sells finished products directly to consumers in its own retail stores. In recent news, Green Thumb has released its Q3 2021 earnings.
During this time the company’s revenue increased 5.3% sequentially and 48.7% year-over-year to $233.7 million. Also, this makes for Green Thumbs’ fifth consecutive quarter of positive GAAP net income. Which delivered $20.2 million or $0.08 per diluted share. As well its is also the 7th consecutive quarter of positive cash flow from operations. This has led to delivering $82.8 million year-to-date.
Words From Green Thumb Industries
“Our third quarter results reflected continued execution on our long-term goal to be a brand leader in this rapidly emerging, high-growth consumer category. On a year-over-year basis, we grew revenue by 49% to $234 million; Adjusted EBITDA by 53% to $81 million and we delivered positive cash flow from operations for the seventh consecutive quarter. We ended the quarter with $286 million in cash, which gives us flexibility to generate long-term returns for our stakeholders,” said Green Thumb Chairman, Founder and Chief Executive Officer Ben Kovler.
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. operates as an integrated medical and wellness cannabis operator in the United States. It operates in two segments, Cannabis Operations, and Non-Cannabis Operations. The Cannabis Operations segment engages in the production and sale of cannabis through retail and wholesale channels. In the last 2 weeks, the company has made some important updates. On November 4th Curaleaf released its Q3 2021 earnings. At this time the company overall was able to deliver some positive results.
Next in the most recent update, the company announced a distribution agreement with Southern Glazer’s Wine & Spirits. Which is being done for Curalead Hemp and select CBD. The distribution relationship combines Curaleaf’s expertise in creating high-quality non-psychoactive hemp products. As well as Southern Glazer’s national scale, unmatched route-to-market capabilities. In addition to its state-of-the-market sales team and its industry-leading Proof® e-commerce platform. Which will bring operating efficiencies that will drive growth within Curaleaf’s family of CBD products.
Words From The Company
“At Curaleaf, we are as committed to innovation and setting the highest possible standards for product quality as we are committed to customer accessibility – and our success lies not only in our ability to provide exceptional CBD-infused products, but to distribute them to the finest retail stores for safe, easy and reliable access to consumers around the country,” said Patrick Larkin, SVP of Sales at Curaleaf.
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. together with its subsidiaries operates as a medical cannabis company. The company cultivates and produces products in-house and distributes its products to Trulieve branded stores across the United States. On November 15th Trulieve has released its third-quarter 2021 results.
Some highlights were Trulieve net revenue increased 64% year-over-year to $224.1 million. Following this, the company also saw an Adjusted EBITDA1 of $98.0 million, or 43.7% of revenue. As well the company began its first cultivation operations in the state of West Virginia. Not to mention this is the 15th consecutive profitable quarter.
Words From The CEO Of Trulieve
“Our third quarter results underscore our commitment to operational excellence and adherence to our stated goals,” said Kim Rivers, Trulieve CEO. “We continue to deliver on our promise to pursue profitable growth while executing on our hub strategy.”
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