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Which Top Marijuana Stocks To Buy This Week? 2 For Your Watchlist Right Now

Could These Cannabis Stocks Produce Gains For Investors This Summer?

As we start a new week in June investors are watching the top marijuana stocks closely concerned about market volatility. Although we have seen the traditional price fluctuations in the cannabis sector 2021 has been somewhat calm in the market. Now more analysts are predicting we may see more market volatility if the Federal Reserve begins to adjust interest rates to combat inflation.

But the Fed has announced it would not make any changes until 2022. Last week more investors seemed concerned with inflation and the best cannabis stocks to buy gave back most of the gains produced in June. This has left many top marijuana stocks on your watchlist trading close to their lower levels this year. So, is this a good time to start a position in cannabis stocks?

In February the cannabis sector climbed to new highs and gave investors a taste of the stock prices we may see with federal cannabis reform. Now in Congress, more lawmakers are pushing to achieve some form of policy change that will replace the current 50-year-old “War on Drugs” policies on cannabis.

Is Now The Time To Buy The Best Marijuana Stocks?

With pot stocks trading lower in the market and these same cannabis companies delivering strong earnings it could be time to add some top marijuana stocks to your watchlist for the summer. In general, the cannabis industry represents one of the fastest-growing markets in the world. Currently, the trading levels present in the cannabis sector could produce significant gains for investors with new market momentum.

[Read More] 3 Marijuana Stocks To Watch Before Next Week Monday

With this in mind, we can take a closer look at some of the best-positioned cannabis stocks in the market. Before making a trade, investors should always do their own due diligence and research into a company. Doing thorough research into a company and watching how a stock performs in the market can help you solidify the best returns on your investments. As cannabis reform continues to be a major topic on Capitol Hill these could be the best marijuana stocks to buy this week in June.

Marijuana Stocks To Watch

  1. TerrAscend Corp. (OTC:TRSSF)
  2. Columbia Care Inc. (OTC:CCHWF)

TerrAscend Corp.

At the present time, TerrAscend is a leading US cannabis operator with a footprint in Pennsylvania, New Jersey, and California. The company has licensed cultivation and processing facilities in Maryland and Canada as well. Primarily the company produces and distributes hemp and cannabis-derived products and also manufactures artisan edibles.  Specifically, TerrAscend operates the Apothecarium a dispensary that has won previous awards as well as best in class cultivation.

Recently, TerrAscend reported first-quarter 2021 net sales of $53.4 million and adjusted EBITDA of $22.6 million. In addition, the company raised its full-year 2021 guidance for net sales to exceed $300 million and an adjusted EBITDA to be more than $128 million. On June 15th TerrAscend launched a portfolio of Kind Tree Branded products in Maryland. In reality, the Maryland facility was already producing 15 strains of flower under the Kind Tree brand and now will add vapes and half gram pre-rolls.

TRSSF stock closed on June 18th at $10.39 up 3.38% year to date.  In February TRSSF stock reached a high of $16.25 and is down 10.82% in the past 30 days. According to analysts at Tip Ranks TRSSF stock has a 12-month average price target of $16.23 per share. In essence, this represents an increase of 56.17% from its last trading price. For this reason, TRSSF stock could be a top marijuana stock to add to your watchlist in June.

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Columbia Care Inc.

There are cannabis companies that are well-positioned as New York legalizes cannabis. Columbia Care Inc. could be one of the best-positioned cannabis companies for growth in the state. At the present time, a recent acquisition of a 34-acre Long Island cultivation site has given the company one of the largest cannabis presence on the East Coast. Currently, the company operates in 18 US markets and operates 115 facilities including 87 dispensaries and 28 cultivation and manufacturing facilities.

Columbia Care announced a record first-quarter 2021 combined revenue of $92.5 million an increase of 220% from the prior year. Specifically, Columbia Care produced a record combined adjusted gross profit of $37.7 million an increase of 316% year over year. In addition, the company reaffirmed its 2021 combined revenue guidance of $500-$530 million and adjusted EBITDA of $95-$105 million. In June Columbia Care completed the acquisition of Green Leaf Medical establishing a market-leading position in the mid-Atlantic. Also, the company signed an agreement to acquire Medicine Man a rapidly growing operator in Denver.

CCHWF stock closed on June 18th at $5.00 down 17.36% year to date. In February the stock reached a 52-week high of $7.89. According to analysts at Market Beat CCHWF stock has a consensus price target of $11.40 per share. This would represent an increase of 128% from its current trading price. With this in mind, CCHWF stock could be one of the best cannabis stocks to buy this week in June.

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