Top US Cannabis Stocks In Q4 2021
Are you looking for the best marijuana stocks to invest in right now? Heading into September the top cannabis stocks have been declining in value as this year progressed. After reaching new highs in February the cannabis sector has seen significant declines in the last six months. In the meantime, leading cannabis companies continue to deliver strong revenue growth in their latest financial results showing the strength of the cannabis market in 2021.
In the US top companies are reporting strong earnings but it’s not providing any upside in the market. Since the Presidential election, many investors believed federal cannabis legalization and reform would happen much faster in 2021. Now after eight months of waiting Congress has not passed any federal cannabis reform and it’s taken its toll on pot stocks. For the most part, the best cannabis stocks to invest in are trading at some of their lower market values right now.
For new investors, it could be time to find the top marijuana stocks for your list in September. Although federal reform has not been passed on the state level the cannabis industry is growing quickly across the US. This has given leading cannabis companies the opportunity to gain market share rapidly entering new markets with mergers and acquisitions. As we head into a new month let’s look at some of the best US marijuana stocks for your list right now.
Top US Marijuana Stocks To Watch In September
- Green Thumb Industries Inc. (OTC: GTBIF)
- Trulieve Cannabis Corp. (OTC: TCNNF)
- Ayr Wellness Inc. (OTC: AYRWF)
- Columbia Care Inc. (OTC: CCHWF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. is a leading US cannabis consumer packaged company that has established a strong presence in key markets across the country. At the present time, Green Thumb has 62 retail locations across 14 states and recently closed the transaction to acquire vertically integrated cannabis businesses in Rhode Island. In addition, GTI has licenses for 111 retail locations for future expansions. In the second quarter, GTI opened a Cookies on the Las Vegas Strip through an exclusive partnership with the privately-owned Cookies Brand. Green Thumb announced it closed the acquisition of Dharma Pharmaceuticals and is entering the Virginia cannabis market.
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. Currently, this is the fourth consecutive quarter of positive GAAP net income with $22.1 million or $0.10 per diluted share. In addition, Green Thumb has an adjusted operating EBITDA of $79.3 million or 35.7% of revenue. GTBIF stock closed on August 29th at $30.22 up 6.22% in the past five days. The stock has increased by 23.37% year to date and has a 12-month price target from Tip Ranks of $48.66 per share.
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. has the largest market share in Florida with more than 50% of the legal cannabis sales in the state. At the present time, the is in the process of making the acquisition of Harvest Health & Recreation Inc. (OTC: HRVSF). Once complete the new company will have a consensus 2021 revenue of over $1.2 billion. In general, this would make Trulieve the largest revenue-producing cannabis company in the US. Currently, the company has 90 stores in Florida, and 100 nationwide, growing strategically in new markets. 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 July Trulieve announced it received a production license approval in Georgia giving the company further presence in the Southeast cannabis market.
The company also opened its first dispensary in the state of Massachusetts adding another market it can produce growth in. On August 12th Trulieve reported its second-quarter 2021 financial results with a record-breaking performance. 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. According to analysts at Market Beat TCNNF stock has a consensus price target of $70.81 per share. In essence, this would be an upside of 160.8% from its last trading price of $27.15 on August 27th.
Ayr Wellness Inc.
Ayr Wellness Inc. has become the fourth largest cannabis company in the Florida cannabis market. Recently, the company has been expanding its presence through acquisitions in other key markets across the US. Ayr has 38 operating dispensaries in Florida and a total of 52 stores nationwide. In July the company has entered the Illinois market with the acquisition of Herbal Remedies Dispensaries, LLC. In July, Ayr received a provisional license to sell adult-use cannabis at greater Boston dispensaries in Massachusetts. Ayr has also agreed to acquire Tahoe Hydro an award-winning cultivator and high-quality cannabis flower produce in Nevada. On August 9th Ayr Wellness Partner Land of Lincoln was awarded a retail dispensary license in Illinois through the state’s lottery process.
On August 16th Ayr reported its second-quarter 2021 results with revenue of $91.3 million up 222% year over year. The company delivered an adjusted EBITDA was $27.4 million on a US GAAP basis up 225% year over year. As it stands, 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 3Q2021 guidance of $100 million in revenue.
Columbia Care Inc.
Expanding its footprint in New Jersey, Columbia Care Inc. is positioned to grow rapidly after legalization is complete in the state of New York. In addition, an acquisition of a 34-acre Long Island cultivation site has given the company one of the largest cannabis footprints to service the East Coast market. At the present time, Columbia Care operates in 18 US markets and operates 130 facilities including 99 dispensaries and 31 cultivation and manufacturing facilities. In July the company announced the launch of West Virginia market operations. Columbia Care expects to begin cultivation operations in the state at its Falling Waters facility.
On August 12th the company delivered its second-quarter 2021 results with a record quarterly revenue of $109.7 million up 232% year over year. Columbia Care saw record quarterly adjusted gross profits of $47.7 million an increase of 300% year over year. The company also has a record adjusted EBITDA of $16.4 million up $21.1 million year over year. Recently, the company completed the acquisition of Green Leaf Medical establishing a market-leading position in the mid-Atlantic. With this, Columbia Care appointed Phillip Goldberg of Green Leaf Medical To its Board of Directors.
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