Best Pot Stocks in 2021
Are you looking for top marijuana stocks to buy in 2021? For the past seven months, the cannabis sector has experienced declines in the market. With many top cannabis stocks hitting their lows so far this year in September cannabis investors are watching the developments in Congress closely. In September the House passed the SAFE Banking Act and the MORE Act for cannabis reform.
But almost immediately Senate Majority Leader Chuck Schumer made an announcement that he has an agreement with Senators not to pass cannabis banking reform before legalization. Schumer unveiled a draft of his marijuana legalization bill earlier this year but has not officially put it a vote in Congress. Although marijuana legalization or cannabis banking reform may not happen in 2021 the possibility that it happens in 2022 is almost certain.
As more states legalize marijuana use the US cannabis market is growing quickly in 2021. Even though most top pot stocks are down substantially from their February highs these companies have been showing strong revenue growth in 2021. Many cannabis investors are taking advantage of these lower stock prices for some of the best marijuana stocks to buy to add to their long-term positions. In the US cannabis companies have been delivering strong financials and are positioning to take advantage of the growing market.
Investing In The Cannabis Industry In 2021
For investors researching these companies and following how they perform in the market can help you find the best investments. It’s important to always do your own due diligence before starting a position especially with the current volatility in the market. Now in October, it may be time to start a top US marijuana stock watchlist with potential upside. Let’s look at 4 of the best US cannabis stocks to watch before next week.
Best US Marijuana Stocks For October 2021
- Trulieve Cannabis Corp. (OTC:TCNNF)
- Ayr Wellness Inc. (OTC:AYRWF)
- Curaleaf Holdings, Inc. (OTC:CURLF)
- Green Thumb Industries Inc. (OTC:GTBIF)
Trulieve Cannabis Corp.
At the present time, Trulieve Cannabis Corp. has the largest market share in Florida with more than 50% of the legal cannabis sales in the state. Primarily, the company is a leading and top-performing cannabis company and to start October closed the acquisition of Harvest Health & Recreation Inc. (OTC:HRVSF). As a result, the company will have a consensus 2021 revenue of over $1.2 billion. Trulieve has 90 stores in Florida, and 100 nationwide, growing strategically in new markets. Also, this month the company announced the launch of a brand portfolio that includes four brand designs tailored to meet the needs of new cannabis consumers and connoisseurs. In September Trulieve debuted a new line of concentrates using hydrocarbon extracts. Specifically, Hydrocarbon extracts offer patients high-quality, full-spectrum concentrates as a uniquely powerful, aromatic, and high purity medicine.
Trulieve received a production license approval in Georgia giving the company further presence in the Southeast cannabis market. In addition, the company opened its first dispensary in the state of Massachusetts adding another market it can produce growth in. Trulieve reported its second-quarter 2021 financial results with a record-breaking performance. As a result, the company achieved its 14th consecutive quarter of profitability has served over 500,000 cannabis customers. In detail, the company saw revenues of $215.1 million and generated a net income of $40.9 million. TCNNF stock closed on October 1st at $27.73 per share up 4.84% down 12.30% year to date.
Ayr Wellness Inc.
Second, on the list is Ayr Wellness Inc. the fourth largest cannabis company in the Florida cannabis market. At the present time, Ayr has 41 operating dispensaries in Florida and a total of 55 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.
Additionally, the company opened its latest dispensary in Pensacola, Florida. 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 Q3 2021 guidance of $100 million in revenue. AYRWF stock closed on October 1st at $26.08 up 9.76% year to date.
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. is an industry leader that provides packaged cannabis products and operates 109 retail locations nationwide. Internationally, the company has also begun expanding with Curaleaf International advancing the accessibility of medical cannabis products in Germany through its wholly-owned subsidiary Adven GmbH. Currently, Curaleaf is preparing to serve New Jersey’s market with a new location its third dispensary in the state. The company has the popular brand Select as one of its leading brands in the US.
Curaleaf reported record second-quarter 2021 results with revenue of $312 million. Its second-quarter revenue is up 20% from Q1 2021 and 166% year over year. Notably, the company reported second-quarter 2021 adjusted EBITDA of $84 million up 201% year over year. As a result, gross margins reached about 50% driven by higher yields at existing facilities. During Q2 the company opened another five dispensaries and continues to expand its footprint in the third quarter. The company will release its 3rd quarter 2021 financials on November 8, 2021, after the market close. CURLF stock is closed at $12.01 down 2.28% in the last five trading days.
Green Thumb Industries Inc.
Green Thumb Industries Inc. is a leading cannabis consumer packaged company that has established a large footprint in key markets across the US. At the present time, Green Thumb has 65 retail locations across 14 states and recently opened its third store in New Jersey. In addition, GTI has licenses for 111 retail locations for future expansions. In the second quarter of 2021 GTI opened a Cookies on the Las Vegas Strip through an exclusive partnership with the privately-owned Cookies Brand. Additionally, Green Thumb announced it closed the acquisition of Dharma Pharmaceuticals and is entering the Virginia cannabis market as well.
In August Green Thumb reported its second-quarter 2021 results with revenue of $221.9 million up 85.4% year over year. For the first half of 2021, the company has delivered revenue of $416.3 million an increase of 87.3% from the previous year. As a result, this is the fourth consecutive quarter of positive GAAP net income with $22.1 million or $0.10 per diluted share. Green Thumb has an adjusted operating EBITDA of $79.3 million or 35.7% of revenue. The company will announce its third-quarter 2021 results on November 10th after the close. GTBIF stock closed on October 1st at $27.57 up 12.53% year to date.
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