Best Cannabis Stocks In This Market Downturn In August
As we watch the markets continue to show declines for most top marijuana stocks to buy investors are concerned there could be further downside. With the Fed announcing a change in bond purchases the market is dropping significantly after reaching new highs on the major indexes. Historically, September is known to be one of the worst trading months of the year. Right now, it seems the party is getting started early as the cannabis sector continues its descent.
After reaching new highs in the first quarter of 2021 top marijuana stocks have been dealt six months of declines. For the most part pot stock is trading near levels seen before December 2020 and continues to slide. So, is it time to find the best cannabis stocks to invest in for 2021? Well, that depends on the US Congress and the Senate Majority Leader Chuck Schumer. Unless investors begin to see progress with cannabis legalization on the federal level it may be sometime before we see some upside.
For the past two quarters, most US cannabis companies have been reporting very strong revenue growth and 20201 guidance with no upward movement from the market. Instead, the best pot stocks in 2021 have continued to drop in value. In general cannabis, stocks are known to be volatile and considered high risk so to seasoned investors this is a typical year trading pot stocks.
Finding Opportunities In Pot Stocks In August
For new investors looking to start a position, this could be an opportunity to find marijuana stocks at lower price points. Researching a company’s earnings and watching how the stock performs in the market can help you find the best investments. For the cannabis sector, there are prospective catalysts for upward momentum and current market value could present some upside in the future. For investors looking for short-term investments, some marijuana penny stocks could be on your watchlist in August. Other small-cap cannabis companies may also develop into plays as the cannabis sector recovers in the market.
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As close out another week in August it’s important to see how the market continues to behave. If you’re in a cannabis position at higher price points it could be time to watch for the best place to add at lower levels. Although some analysts are predicting further declines because the cannabis sector has been dropping for months it could be ready for a rebound. With this in mind, let’s look at 2 top marijuana stocks for your list in August.
Top Marijuana Stocks For Your Watchlist This Week
- Clever Leaves Holdings Inc. (NASDAQ: CLVR)
- MariMed Inc. (OTC: MRMD)
Clever Leaves Holdings Inc.
In the global cannabis market, Clever Leaves Holdings Inc. cultivates, extracts, manufactures and commercializes pharmaceutical-grade cannabinoid products. The company has a presence in Colombia, Portugal, Germany, the United States, and Canada. Primarily Clever Leaves operates through two segments, Cannabinoid and Non-Cannabinoid. With an effective distribution network and global footprint, built upon capital efficiency and rapid growth, Clever Leaves aims to be one of the industry’s leading global cannabis companies.
On August 12th the company reported its second-quarter 2021 results with revenue increasing 89% to $3.7 million year over year. Driven by both segments gross profits increased by 157% to $2.3 million. In addition, Clever Leaves sustained a net loss of $9 million compared to $8.8 million year over year. The company seems well-positioned to take advantage of the Colombian cannabis market as regulations change for exports.
CLVR stock is trading at $10.18 on August 19, 2021, down 11.80% in the past five trading days. The stock has a 52-week price range of $7.95-$19.46 and is up 10% year to date. According to analysts at Market Beat CLVR stock has a consensus price target of $11.04 per share. Currently, this would represent an upside of 10.8% from its current trading price. CLVR stock has a market cap of $265.9 million with an average daily volume of 194,714 shares. As the cannabis sector starts to recover CLVR stock could be a top marijuana stock for your list next week.
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MariMed Inc.
MariMed Inc. is a cannabis multi-state operator that is developing its own brand state-licensed cannabis facilities and dispensary operations. Currently, the company develops and manages seed to sale state-licensed cannabis facilities. MariMed has an experienced management team producing consistent growth and success for its managed business units. The company’s technician’s names are in its top-selling and award-winning products and brands, including Betty’s Eddies®, Nature’s Heritage™, Bourne Baking Co., and Kalm Fusion®.
On August 19th MariMed reported strong second-quarter 2021 earnings with revenue of $32.6 million up 239% year over year. In addition, the company delivered a gross profit of $19.4 million a gain of 215% from Q2 of 2020. Also, the company reported an Adjusted EBITDA of $13.9 million up 391% year over year. As a result, the company increased its 2021 guidance for revenue of $100 million – $118 million. Now the company is also including guidance for Adjusted EBITDA of $42 million.
MRMD stock is trading at $0.903 on August 19, 2021, up 5.74% in the last five trading sessions. The stock has a 52-week price range of $0.138-$1.20 and is up 105.28% year to date. According to analysts at Stock Invest, MRMD stock is expected to fall by 15.30% during the next 3 months. This analysis is based on the stock’s short-term trading trends. For investors looking for top marijuana penny stocks for their watchlist right now, MRMD stock could have short-term potential.
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