Best Cannabis Stocks To Invest In Right Now

Are you looking for the best marijuana stocks to invest in for September? After months of waiting for Congress to proceed with federal cannabis reform. The House has passed a defense bill with marijuana banking reform as an amendment. The amendment is identical to the SAFE Banking Act and has a much better chance of passing in the Senate in this form. In today’s trading, the cannabis sector has begun to show some upside after the announcement.

In the US many leading cannabis companies have been showing strong revenue growth. Although this has not translated to gains in the market it does show a rapidly growing market. With more investors looking at pot stocks after the announcement from Congress we could see some upside in the next few trading sessions. In the event federal cannabis banking reform passes in the fourth quarter there is a strong possibility the cannabis sector catches a second wind in the market.

In September top marijuana stocks have shown more volatility in the market as the months progressed. This week has been especially turbulent with all the events that are affecting the market. But with possible federal cannabis legislation passing this quarter, it could be time to make a list of top marijuana stocks to buy.

The US Cannabis Industry And Top Pot Stocks In 2021

For the most part, US MSOs have been some of the top performers in the cannabis industry as the American marijuana market expands. For investors, it’s important to always do your due diligence before investing in a company. Researching a company’s earnings and watching how the stock performs in the market can help you achieve the greatest returns. Investors that understand how to read charts and follow market indicators have a much better chance of seeing gains in the market.

[Read More] The House Has Passed The SAFE Banking Act For The 5th Time

It’s important to get an education in trading before putting your hard-earned money at risk. As the cannabis sector continues to show some upside right now there are cannabis stocks that could provide some upside if pot stocks continue to rally. These companies are well-positioned in the cannabis market and continue to grow their footprint in the US. Let’s look at 2 of the top marijuana stocks for your watchlist in September.

Marijuana Stocks For Your Watchlist This Week

  1. TerrAscend Corp. (OTC:TRSSF)
  2. Planet 13 Holdings Inc. (OTC:PLNHF)

TerrAscend Corp.

At the present time, TerrAscend cultivates and sells medical and adult-use cannabis in Canada and the United States. Specifically, the company is a leading US cannabis operator with a footprint in Pennsylvania, New Jersey, and California. As it stands, TerrAscend has licensed cultivation and processing facilities in Maryland and Canada. Additionally, the company produces and distributes hemp and cannabis-derived products and manufactures artisan edibles for cannabis consumers. Recently, TerrAscend launched a portfolio of Kind Tree Branded products in Maryland. The Maryland facility was already producing 15 strains of flower under the Kind Tree brand and now will add vapes and half gran pre-rolls to the lineup.   TRSSF

In August TerrAscend reported its second-quarter results with net sales of $58.7 million an increase of 72% year over year. As a result, the company delivered an adjusted gross profit margin of 61%in Q2 2021. In addition, the company has an adjusted EBITDA of $24.3 million up from $22.6 million in Q1 2021. Also, TerrAscend signed an agreement to be the sole cultivator and manufacturer of COOKIES branded products in New Jersey and brings COOKIES to the three dispensaries it has in the state.

TRSSF stock is trading on September 22nd at $7.01 up 3.46% in the last five trading days. The stock has a 52-week price range of $3.91-$16.25 and is down 30.10% year to date. According to analysts at Tip Ranks TRSSF stock has a 12-month average price target of $12.74 per share. In essence, this would represent an upside of 81.65% from its current trading price.

[Read More] Best Marijuana Stocks To Buy In 2021? 2 US Cannabis Stocks To Watch Right Now

Planet 13 Holdings Inc.

Next,  is Planet 13 announced the grand opening of its Orange County superstore which is now the largest dispensary complex in California. Primarily, the company is based in Nevada, with award-winning cultivation, production, and dispensary operations on the Las Vegas strip. ON the Las Vegas Strip Planet 13 is famous for its larger-than-life Superstore dispensary that’s housed in a 112,000 square foot building. Planet 13’s two superstore dispensaries are said to be the largest in the world. Additionally, the company has also established a smaller model of its business the Medezin store which encompasses its larger store model and puts it in a compact form. planet13

Planet 13 announced its second-quarter 2021 financials with revenue of $32.8 million up 205% year over year. Namely, in Q2 the company delivered an adjusted EBITDA of $7.2 million. As a result, gross profits before biological adjustments were $18.7 million and an adjusted EBITDA of $7.2 million. Planet 13 sustained a net loss of $4.4 million and a net loss before taxes of $0.9 million. This month the company expects to launch Tinley’s products a selection of cannabis-infused beverages. On September 1st Planet 13 signed a definitive agreement to acquire a Florida Cannabis License.

PLNHF stock closed on September 22nd at $4.77 up 6.22% in the past five trading days. The stock has a 52-week price range of $2.60-$8.67 and is down 16.28% year to date. According to analysts at Market Beat PLNHF stock has a consensus forecast price target of $6.50 per share. In this case, this would be a gain of 38.8% from its current trading price. With the cannabis sector showing some upward momentum these could be some top cannabis stocks for your list in September.

[Read More] New Jersey Has Started To Expunge A Large Amount of Cannabis Convictions In 2021

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