Top Marijuana Stocks September 2021
Are you looking for ways to invest in marijuana stocks in 2021? At the present time, the cannabis sector is trading at some of its lowest price points this year. So, now the question is why are cannabis stocks down right now? For one the US Congress has yet to pass federal cannabis reform. Initially, this is something cannabis investors were expecting to occur earlier in the year. Now after nine months of market declines many investors have lost interest in the cannabis sector and are looking in other areas to find value.
In the first quarter of 2021, the cannabis sector rallied on federal cannabis legalization some of which passed in the House but has reached the Senate floor yet. Currently, legislation like the SAFE Banking Act and the MORE Act could change federal policy on Congress. But Senate Majority Leader Chuck Schumer has also unveiled a draft of the Cannabis Administration and Opportunity Act a few months ago.
In general, Schumer did this to gain support from both parties to try and get the bill passed this year. But as the months go by it becomes evident that he is having trouble solidifying the necessary votes to get it passed. Nevertheless, the cannabis industry continues to grow rapidly on the state level.
Best Pot Stocks To Watch While Cannabis Stocks Are Down
In 2021 many leading cannabis companies have shown significant revenue growth in their latest earnings this is expected to continue for the rest of the year as MSOs continue to expand across the US market. As more states legalize cannabis use cannabis companies are expanding quickly using M&As to grow their presence in the market. For investors, this could be a good time to put some of the top pot stocks on your watchlist for September. Right now, many of the top MSOs are trading near their lowest levels in 2021.
For investors, it’s important to do your due diligence on a company before investing. Researching a company’s earnings and following a stock’s performance in the market can help you establish the best positions for your investments. In 2021 top marijuana stocks have shown substantial market volatility. These recent lows could be a good opportunity for cannabis investors to start positions or average down in current ones. Let’s take a closer look at 3 top US cannabis stocks for your list for next week.
Best US Marijuana Stocks To Watch Right Now
- Green Thumb Industries Inc. (OTC:GTBIF)
- Curaleaf Holdings, Inc. (OTC:CURLF)
- Cresco Labs Inc. (OTC:CRLBF)
Green Thumb Industries Inc.
In the US Green Thumb Industries Inc. is a leading cannabis consumer packaged company that has established a strong presence in key markets across the country. At the present time, Green Thumb has 64 retail locations across 14 states and recently expanded its presence in Massachusetts through the acquisition of GreenStar Herbals, Inc. In addition, GTI has licenses for 111 retail locations for future expansions. In Q2 2021 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. Specifically, for the first half of 2021, the company has delivered revenue of $416.3 million an increase of 87.3% from the previous year. Notably, this is the fourth consecutive quarter of positive GAAP net income with $22.1 million or $0.10 per diluted share. As it stands, Green Thumb has an adjusted operating EBITDA of $79.3 million or 35.7% of revenue.
GTBIF stock closed on September 10th at $25.35 down 13.69% in the past five days. Currently, GTBIF stock has a 52-week price range of $11.60-$39.11 and is up 3.47% year to date. According to analysts at Tip Ranks GTBIF stock has a 12-month average price target of $48.87 per share. In essence, this would represent an increase of 92.78% from its last trading price of $25.35.
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. provides packaged cannabis products and operates 109 retail locations across the US. Additionally, 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. In August Curaleaf is preparing to serve New Jersey’s market with a new location its third dispensary in the state. Recently in an interview with Curaleaf founder Boris Jordan, he discussed how prepared they were with cannabis products to supply the New Jersey market when it opens.
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. Specifically, 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 closed on September 10th at $11.06 down 8.52% in the past five trading days. As it stands 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 Market Beat CURLF stock has a consensus price target of $24.79 per share. In this case, this would be an upside of 124.1% from its last trading price of $11.06.
Cresco Labs Inc.
Next on the list is, Cresco Labs Inc another top-tier MSO cannabis company in the US market. Currently, the company is considered the number one wholesaler of branded cannabis products in America. Cresco operates 37 retail locations across 10 states with 20 production facilities and 47 retail licenses. Recently, the company opened its fourth Sunnyside dispensary in Pennsylvania as the company expands into other key markets. Additionally, the company announced a portfolio expansion of its Good News brand with more selections in the edibles and vaping areas. Some of the new products under the Good News brand Cresco is launching are Counting Sheep, Day Off, and Pride products. Specifically, these edibles and vape products will be available in California, Illinois, and Michigan.
Recently, 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 closed on September 10th at $8.21 down 15.19% in the last 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 Tip Ranks CRLBF stock has a 12-month average price target of $16.91 per share. This would represent a gain of 105.97% from its last trading price of $8.21. For next week these top US MSOs could be the top marijuana stocks to invest in for September.