Best Marijuana Stocks In The American Cannabis Market
Are you looking for top marijuana stocks to buy while cannabis stocks are down in the market? With the House passing marijuana legalization and banking reform, there could be a catalyst for pot stocks soon. Although the federal government has been slow in making progress with legalizing marijuana many new states have pushed forward. As the cannabis industry continues to grow on the state level leading companies are gaining market share. In 2021 most of the best cannabis companies in the US reported strong revenue growth in their latest earnings.
Many analysts believe the next five to ten years will be rapid growth years for the cannabis market. But it seems without the federal government acting on cannabis reform the cannabis sector continues a downtrend. For the past seven months, the best cannabis stocks to buy have been experiencing declines in the market. As a result, many top cannabis stocks are trading near their lowest price points in 2021.
This has created an opportunity for investors to get into some of the best marijuana stocks now at lower price points for this year. In general, until American marijuana stocks are trading on major US stock exchanges they are limited to a smaller market of investors. Ultimately with federal cannabis legalization and reform US marijuana stocks will be able to move from the OTC Markets to the NASDAQ and NYSE.
US Cannabis Industry Growth Forecast And Top Pot Stocks To In 2021
According to a recent BDSA report forecast, cannabis sales in the US are expected to surpass $24 billion in 2021. In addition, the same report anticipates US sales to reach $47.6 billion in 2026. Currently, there are many cannabis companies positioning to grow with the market. From current trading levels, some pot stocks could have the potential to deliver significant gains for investors. Of course, this is with the understanding that it’s a high-risk-reward investment.
Before investing in cannabis there are a few important factors to consider. For one top pot stocks are known for having significant market volatility. Because of this, it’s important to study how these stocks perform in the market to find the best entry point for your investment. Researching a company’s financials and following the cannabis stocks charts can help you establish the best returns on your investment. For investors, it could be a good time to make a watchlist of top marijuana stocks in Q4 2021.
Top Marijuana Stocks To Add To Your List Right Now
- Ayr Wellness Inc. (OTC:AYRWF)
- Ascend Wellness Holdings, Inc. (OTC:AAWH)
- TerrAscend Corp. (OTC:TRSSF)
Ayr Wellness Inc.
Ayr Wellness Inc. is the fourth largest US MSOs in the Florida cannabis market. At the present time, Ayr has 42 operating dispensaries in Florida and a total of 59 stores nationwide. Recently, the company entered the Illinois market with the acquisition of Herbal Remedies Dispensaries, LLC. Ayr received a provisional license to sell adult-use cannabis at greater Boston dispensaries in Massachusetts. Also, Ayr has also agreed to acquire Tahoe Hydro an award-winning cultivator and high-quality cannabis flower produce in Nevada. In September the company signed an agreement to acquire the owner of Levia cannabis-infused hard seltzers.
Ayr reported its second-quarter 2021 results with revenue of $91.3 million up 222% year over year. The company has an adjusted EBITDA was $27.4 million on a US GAAP basis up 225% year over year. Ayr sustained a US GAAP operating loss of $24.9 million which included one-time expenses, and non-operating adjustments of $52.3 million. The company raised its 2022 revenue target to $800 million with a $300 million AEBITDA. In addition, Ayr provided a 3Q 2021 guidance of $100 million in revenue. AYRWF stock closed on October 8th at $24.46 down 6.21% in the past five trading days. According to Tip Ranks AYRWF stock has an average 12-month price target of $55.56 an upside of 127.15%.
Ascend Wellness Holdings, Inc.
Second on the 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. Its business provides accessible retail experiences, trusted products, and exclusive brand partnerships and produces and distributes Ozone branded products. In general, the company’s cannabis product categories include flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products. Currently, 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. 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. 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. AAWH stock closed on October 8th at $9.00 down 10.63% in the past month of trading.
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. In general, TerrAscend has licensed cultivation and processing facilities in Maryland and Canada. Specifically, the company produces and distributes hemp and cannabis-derived products and manufactures artisan edibles for cannabis consumers. 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.
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. To highlight, 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. In September the company received Michigan prequalification approval for the acquisition of Gage Growth Corp. (OTC:GAEGF). TRSSF stock closed at $6.58 on October 8th down 8.31% in the past month of trading.
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