Investing In Top Cannabis Stocks In September 2021
Are you looking for different ways to invest in top marijuana stocks? In September most of the cannabis sector is trading at some of their lowest stock prices so far in 2021. With this pullback, the best cannabis stocks to invest in could be at values that produce substantial gains once the sector sees some upside. One potential catalyst many cannabis investors are hoping for this quarter is federal cannabis reform and legalization.
In the event, Congress passes some form of change to federal policy we could see some upside from cannabis stocks. While they currently trade near some of their lowest values this year many analysts believe this could be a good opportunity for investors. In the first half of 2021 cannabis companies have been seeing revenue growth and reporting strong earnings. Although this has not translated to gains in the market it does show that cannabis sales are climbing in the industry.
With the cannabis industry growing at a steady pace investing in pot stock could produce some returns for investors. In the Canadian cannabis market companies have been preparing to enter the US market. With the delay, Canadian marijuana stocks have lost significant value as the months have gone by. On that note, they have also seen the most gains whenever Congress made announcements dealing with cannabis.
Finding The Best Investments In The Cannabis Market
Another area of growth is the global cannabis sector and the companies gaining market share. According to a BDSA report, global cannabis sales exceeded $21 billion in 2020 and are forecast to reach $55.9 billion by 2026. The companies that are establishing their footprints early could be some of the companies that produce some long-term returns for investors. Before investing it’s always important to research a company thoroughly. One way to do this is by looking into a company’s earnings results and watching its market performance. This can help you establish the best positions for your investments.
[Read More] Canadian Marijuana Stocks In September 2021
Although the Canadian cannabis market has not performed as well as the US there could be potential short-term gains for investors. Some of the largest Canadian cannabis companies are trading down significantly from highs achieved earlier this year. For the most part, the Canadian cannabis market needs the US to change its federal policy on cannabis so these Canadian cannabis companies can grow in the US market. Let’s look at 2 top marijuana stocks for your list this week.
Top Marijuana Stocks To Watch In September
- Tilray, Inc. (NASDAQ:TLRY)
- Clever Leaves Holdings Inc. (NASDAQ:CLVR)
Tilray, Inc.
First up, Tilray, Inc. is a leading global cannabis consumer packaged goods company with operations in Canada, the US, Europe, Australia, and Latin America. Recently, the company has undergone a merger in the Canadian market to become one of the largest revenue-producing cannabis companies in the world. Additionally, Tilray is positioning itself to enter the US market and is also expanding its international presence. Tilray completed its first harvest and delivery of medical cannabis grown in Germany. In addition, the company has established CBD products and infused beverages that could be large revenue producers across the Canadian and American markets.
In August Tilray acquired a majority position in MedMen convertible notes also a move to enter the US cannabis market. Tilray reported its 2021 fiscal year and Q4 results with net revenue up 27% year over year to $513 million. The company produced a net income of $33.6 million and adjusted EBITDA of $12.3 million. As a result, Tilray increased its revenue by 55% in Q4 and holds the #1 share in Canada.
TLRY stock is trading at $12.03 down 11.73% in the last five days of trading. The stock has a 52-week price range of $4.41-$67.00. According to analysts at CNN Business TLRY stock has a 12-month median price target of $17.00 per share. In essence, this would represent an increase of 41.43% from its current trading price.
[Read More] 2 Marijuana Stocks To Watch Halfway Through September
Clever Leaves Holdings Inc.
Clever Leaves Holdings Inc. cultivates, extracts, manufactures, and commercializes pharmaceutical-grade cannabinoid products for a global market. Currently, the company has operations in Colombia, Portugal, Germany, the United States, and Canada. Primarily, the company operates through two segments, cannabinoid, and non-cannabinoid. In addition, it also engages in the formulating, manufacturing, marketing, distributing, and selling of homeopathic and other natural remedies, wellness products, and detoxification products. Clever Leaves aims to be one of the industry’s leading global cannabis companies recognized for its principles, people, and performance while fostering a healthier global community.
In August Clever Leaves reported its second-quarter 2021 results with Q2 2021 revenue of $3.7 million up 89% year over year. As a result, gross profit increased 157% to $2.3 million a gross margin of 63.6% of revenue. Notably, the company sustained a net loss of $9 million with costs associated with operating as a public company. Additionally, Clever Leaves gave a 2021 outlook with revenue forecast to be between $17-$20 million with gross margins of about 61%.
CLVR stock is trading at $8.40 down 32.71% in the last month. The stock has a 52-week price range of $7.95-$19.46 and is down 6.40% year to date. According to analysts at CNN Business CLVR stock has a 12-month average price target of $12.00per share. In this case, this would represent an upside of 43.03% from its last trading price of $8.40. With today showing some upside for the cannabis sector CLVR stock could be a top cannabis stock for your list to end the week.
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