Best Cannabis Stocks In The US Market
Are you looking for the best ways to invest in top marijuana stocks? At the present time, many of the top cannabis stocks to buy are trading near their lowest market values this year. US pot stocks have experienced 8 months of declines while Congress continues to delay federal marijuana legalization. In the past month, the House has passed federal cannabis legalization and banking reform, but the bills continue to be held up in the Senate. In 2021 federal legalization has been the major catalyst for the cannabis sector.
Although many leading cannabis companies are reporting strong revenue growth this has not caused any upside in the market. But it does show a strong performance for the US cannabis industry. According to a recent BDSA report, US cannabis sales are forecast to surpass $24 billion in 2021. Additionally, by 2026 US cannabis sales are forecast to reach $47.6 billion.
Because it seems top pot stocks are not currently reflecting this growth in their trading levels this could be an opportunity for cannabis investors. On the state level, the cannabis market continues to grow rapidly, and these companies are expanding quickly using M&As to build a larger footprint. Also, US cannabis companies have now surpassed Canadian LPs as the largest revenue-producing companies. Now some have also begun to expand into the global market.
Finding The Best Positions In The Cannabis Sector
Before investing in pot stocks, it’s important to do your research into a company to find the best-performing options. In general, looking into a company’s earnings and studying how a stock moves in the market can help you make the best trading decisions. Because cannabis stocks are known for having significant market volatility it’s important to establish the best entry for your position. In the first quarter of 2021 top marijuana stocks rallied with investors believing cannabis legalization would have occurred earlier in the year.
[Read More] 2 Marijuana Stocks For Your Wednesday Watchlist
If federal marijuana legalization happens in the fourth quarter or the beginning of 2022, we could see some upside for the cannabis sector. As we continue to see a downtrend in top pot stocks many cannabis investors are watching for a change in this current market trend. Others are adding to their positions at these lower levels to bring down their average. In the US top tier cannabis companies could be one of the best ways to gain exposure to the cannabis market. Let’s look at 2 top cannabis stocks for your list right now.
Best US Marijuana Stocks To Watch Right Now
Ayr Wellness Inc.
At the present time, Ayr Wellness Inc. is the fourth largest US MSOs in the Florida cannabis market. Primarily, 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. In addition, 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. On October 4th Ayr closed the acquisition of PA Natural Medicine, LLC giving it one of the largest cultivation and production footprints in Pennsylvania.
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 13th at $23.85 down 4.79% in the past five trading days. Currently, the stock has a 52-week price range of $20.00-$37.50 and is almost flat year to date. According to Tip Ranks AYRWF stock has an average 12-month price target of $55.56 an upside of 133% from its current price.
Curaleaf Holdings, Inc.
One of the largest top-tier MSOs is Curaleaf Holdings, Inc. 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. At the present time, 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. Today the company announced it would expand its suite of innovative products with the addition of Select Snooze Bites, which are rolling out in several markets across the US this fall.
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 $11.31 down 21.57% in the last six months. At the present time, the stock has a 52-week price range of $8.20-$18.38 and is down 5.53% year to date. According to analysts at Market Beat CURLF stock has a consensus price target of $24.68 per share. In this case, this would represent an upside of 118.2% from its last trading price of $11.31.
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