US Cannabis Stocks In 2021
Are you looking for the best US marijuana stocks to buy in 2021? For several months top cannabis stocks to invest in have seen significant declines leading into September. Although the first week in September we began to see some upside last week most pot stocks dropped to some of their lowest values in 2021. Last week was one of the first weeks that we saw real weakness in the overall markets. Unfortunately for cannabis investors already in positions this weakness really affected the marijuana sector.
Another factor that’s having long-term effects on how the cannabis sector trades is US federal cannabis legalization. While on the state level the cannabis industry is growing rapidly on the federal level, we still have prehistoric policies in place. In the US vertically integrated cannabis companies are unable to trade on major US markets because of federal policies. This has left them trading on the OTC Markets with limited exposure to capital.
As it stands new trading apps like Robinhood Markets, Inc. (NASDAQ:HOOD) and WeBull do not trade stocks on the OTC limiting the US cannabis sector to these new large pools of retail investors. Currently, platforms like Charles Schwab, E*TRADE, and TD Ameritrade are some of the places US investors can trade stocks trading on the OTC. Eventually, many investors believe this will change and Congress will end cannabis prohibition in the US.
Best Pot Stocks In 2021 And The US Cannabis Industry
In the meantime, US cannabis companies are performing extremely well in 2021. Generally, most of the top-tier US cannabis companies delivered strong earnings for the first half of the year. In addition, these companies have also been expanding across the US market as more states legalize cannabis use. Some of these companies are now some of the top-selling brands in the US market. Although some private cannabis companies also reign among the best-selling brands recently leading publicly traded companies have also aligned themselves with top-selling brands.
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For investors looking for the top marijuana stocks to invest in for September, these low stock prices could be an opportunity for returns. Researching the best-performing companies and watching how they move in the market can help you establish the best investments. As we start the third week in September let’s look at 2 top US cannabis stocks for your list right now.
Best Marijuana Stocks To Watch In The Stock Market Today
Curaleaf Holdings, Inc.
In the US Curaleaf Holdings, Inc. is an industry leader that provides packaged cannabis products and operates 109 retail locations nationwide. At the present time, 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. Recently, the company also launched B Noble Brand.
A partnership between Curaleaf, Bernard Noble, and Fab Five Freddy to bring awareness of the need to reform cannabis laws. In August Curaleaf is preparing to serve New Jersey’s market with a new location its third dispensary in the state. In a recent interview with Curaleaf founder Boris Jordan, he discussed how prepared they were with cannabis products to supply the New Jersey market when it opens. The company has the popular brand Select as one of its leading brands in the US.
In August 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.
CURLF Stock Performance
CURLF stock closed on September 10th at $11.06 down 8.52% in the past five trading days. Currently, CURLF stock has a 52-week price range of $5.81-$18.38 and is down 7.62% year to date. According to analysts at Tip Ranks CURLF stock has a 12-month average price target of $22.71 per share. In this case, this would represent an increase of 105.33% from its last trading price of $11.06.
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Cresco Labs Inc.
Next on the list, Cresco Labs Inc is another one of the largest vertically integrated cannabis companies in the US market. At the present time, the company is considered the number one wholesaler of branded cannabis products in America. In fact, according to a new BDSA report is the leading cannabis brand in Illinois and Pennsylvania. Cresco operates 33 retail locations across 10 states with 18 production facilities and 44 retail licenses. Recently, the company opened its fourth Sunnyside dispensary in Pennsylvania as the company expands into other key markets. In addition, the company announced a portfolio expansion of its Good News brand with more selections in the edibles and vaping areas. Primarily, these edibles and vape products will be available in California, Illinois, and Michigan.
Last month, the company announced the acquisition of Blair Wellness Center a Maryland dispensary. In August Cresco announced its second-quarter 2021 results with record revenue of $210 million and reaffirmed its annualized revenue guidance of $1 billion in 2021. As a result, the company delivered gross profits excluding fair value markups of $107 million or 51% of revenue. Cresco has a net income of $2.7 million and an adjusted EBITDA of $45.5 million. As it stands, the company expects gross profit margins of more than 50% for the remaining two quarters of 2021.
CRLBF Stock Performance
CRLBF stock closed on September 10th at $8.21 down 15.19% in the past five trading days. The stock has a 52-week price range of $5.33-$17.49 and is down 16.78% year to date. According to analysts at Market Beat CRLBF stock has a consensus price target of $23.88 per share. In essence, this would represent an upside of 190.8% from its last trading price of $8.21. For this reason, these could be 2 of the best marijuana stocks for your list this week.
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