Best Cannabis Stocks And Federal Marijuana Legalization
Are you looking for the top marijuana stocks to invest in before 2022? In December many of the best cannabis stocks to buy have fallen near the lowest trading levels seen this year. This is mainly because of the delays in congress with federal marijuana legalization and cannabis reform. At the present time, the Senate is weighing on leaving the SAFE Banking Act attached to the NDAA for a vote.
Although a bipartisan push to end federal cannabis prohibition exists currently there are still issues in executing the legislation at this moment. In 2021 these delays have impacted the cannabis sector and delivered significant declines since the sector reached new highs in February. There are many ways to invest in the growing cannabis industry right now. Because of recent drops in value, many analysts are forecasting upside for top pot stocks.
Ancillary cannabis companies are those companies that support the cannabis industry without touching the actual plant. In December some ancillary cannabis stocks are trading near their 2021 lows going into this week. As the cannabis industry continues to grow rapidly these companies are well-positioned to expand with the market. Another area that could have potential is pot stocks are new to the market. In the US these companies are expanding rapidly using M&As as a way to grow quickly.
Finding The Best Cannabis Stocks To Buy In 2021
Although the cannabis sector has not been performing well in the market many leading companies have continued to produce significant revenue growth in their latest financials. Before investing in marijuana stocks, it’s important to do your due diligence on a company. Researching a company’s financial results and press releases can help find the top performers. In addition, following how a stock behaves in the market and establishing the best entry point for your trade can help you achieve greater returns. As we start the first full week in December let’s look at 2 top cannabis stocks for your watchlist right now.
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Top Cannabis Stocks To Watch In December
- WM Technology, Inc. (NASDAQ: MAPS)
- Ascend Wellness Holdings, Inc. (OTC: AAWH)
WM Technology, Inc.
WM Technology, Inc. is also known as Weedmaps is an online listing marketplace and a major hub for cannabis consumers and cannabis companies. Primarily, the cloud-based SaaS solutions from WM Business provide an operating system for cannabis retailers. In general, WM Business’ tools support compliance with the complex, and constantly evolving regulations in the cannabis industry. This year Weedmaps announced a multi-year partnership with Kevin Durant, Thirty-Five Ventures, and a sponsorship deal with Boardroom. In September the company acquired leading cannabis CRM & marketing platform Sprout.
As it stands, Weedmaps has an estimated 13.9 million monthly active users and approximately 18,000 business listings in the U.S. Its average monthly revenue per paying client is $3817 up 7%. In November the company released its third-quarter 2021 results with revenue of $50.9 million. Specifically, US revenue grew by 46% year over year with monthly active users increasing to 13.9 million on September 30, 2021. In addition, gross profit was $48.8 million and net income reached $49.2 million. Currently, WM has a Q4 2021 revenue estimate between $50-$52 million.
MAPS stock is closed at $6.68 on December 3rd down 45.42% in the past month. Currently, the stock has a 52-week price range of $6.31- $29.50 and is down 47.69% year to date. According to analysts at CNN Business MAPS stock has a 12-month consensus price target of $14.50 per share. In essence, this would represent an upside of 117.07% from its current trading price.
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Ascend Wellness Holdings, Inc.
Next on the list is AWH a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts, and New Jersey. Primarily, AWH owns and operates cultivation facilities, and grows award-winning strains, and produces a curated selection of products. In general, the company produces and distributes Ozone branded products. The company’s cannabis product categories include flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products. Overall, AWH operates 17 retail locations and sells its products to third-party licensed cannabis retail stores. In October, ascend is expanding its vertically integrated footprint in Ohio. In November the company announced the opening of its Newton, Massachusetts dispensary.
AWH reported its third-quarter 2021 results with net revenue of $94.4 million an increase of 13.2% sequentially. To highlight the company had an Adjusted EBITDA of $23.5 million up 15.9% quarter over quarter. Total revenue of $105 million increased 131.4% year over year. In Q3 the company ended the quarter with $204.5 million in cash and cash equivalents. Additionally, AWH announced it has brought the brand Lowell Smokes pre-rolls from Lowell Farms Inc. (OTC: LOWLF) to the Massachusetts market.
AAWH stock closed on December 3rd at $5.60 down 11.95% in the past five trading days. Currently, the stock has a price range of $5.40-$9.21 and is down 41.05% in the last six months. According to analysts at CNN Business AAWH stock has a 12-month median price forecast of $13.00 per share. In this case, this would represent an upside of 132.14% from its last trading price.
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MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
