Best Pot Stocks in 2021
Looking for the top marijuana stocks buy in 2021? Over the past seven months, the cannabis industry has seen declines in the market. With many top cannabis stocks hitting their year-to-date lows in September, cannabis investors are keeping a close watch on developments in Congress. In September, the House adopted the SAFE Bank Act and the MORE Act for cannabis reform.
Marijuanastocks.com – MarijuanaStocks
But almost immediately, the majority leader in the Senate Chuck schumer announced he had an agreement with senators not to pass cannabis banking reform before legalization. Schumer unveiled a draft of his legalization of marijuana bill earlier this year, but did not formally vote on it in Congress. While marijuana legalization or cannabis banking reform won’t happen in 2021, the possibility that it will happen in 2022 is almost certain.
As more states legalize marijuana use, the U.S. cannabis market is growing rapidly in 2021. Even though most of the largest cannabis stocks are down substantially from their February highs, these companies posted strong revenue growth in 2021. Many cannabis investors are taking advantage of these lower stocks. the prices of some of the best marijuana stocks to buy to increase their long term positions. In the United States, cannabis companies are showing strong financial results and positioning themselves to take advantage of market growth.
Investing in the Cannabis Industry in 2021
For investors, researching these companies and tracking their performance in the market can help you find the best investments. It is important to always do your due diligence before starting a position, especially with the current market volatility. Now, in October, it may be time to start a watchlist of marijuana stocks in the United States with upside potential. Let’s take a look at 4 of the best U.S. cannabis stocks to watch before next week.
Best marijuana stocks in the United States for October 2021
- Trulieve Cannabis Corp. (OTC: TCNNF)
- Ayr Well-being Inc. (OTC: AYRWF)
- Curaleaf Holdings, Inc. (OTC: CURLF)
- Green Thumb Industries Inc. (OTC: GTBIF)
Trulieve Cannabis Corp.
Currently, Trulieve Cannabis Corp. holds the largest market share in Florida with over 50% of legal cannabis sales in the state. Primarily, the company is a leading and most successful cannabis company and, in early October, completed the acquisition of Harvest Health & Recreation Inc. (OTC: HRVSF). As a result, the company will have consensus revenue in 2021 of more than $ 1.2 billion. Trulieve has 90 stores in Florida and 100 nationwide, growing strategically in new markets. Additionally, this month the company announced the launch of a brand portfolio that includes four brand models designed to meet the needs of new cannabis consumers and connoisseurs. In September, Trulieve launched a new range of concentrates using hydrocarbon extracts. Specifically, hydrocarbon extracts provide patients with high quality full spectrum concentrates as a particularly potent, aromatic and high purity drug.
Trulieve has received production license approval in Georgia, giving the company an additional presence in the Southeastern cannabis market. Additionally, the company has opened its first dispensary in the state of Massachusetts, adding another market in which it can generate growth. Trulieve released its second quarter 2021 financial results with a record performance. As a result, the company reached its 14e consecutive quarter of profitability has served more than 500,000 cannabis customers. In detail, the company made revenues of $ 215.1 million and generated net income of $ 40.9 million. Closing of the TCNNF title on October 1st to $ 27.73 per share, up 4.84%, down 12.30% year-to-date.
Ayr Well-being Inc.
Second, on the list is Ayr Wellness Inc., the fourth largest cannabis company in the cannabis market in Florida. At present, Ayr has 41 operating dispensaries in Florida and a total of 55 stores nationwide. Recently, the company entered the Illinois market with the acquisition of Herbal Remedies Dispensaries, LLC. Ayr was given a provisional license to sell cannabis for adult use at dispensaries in Greater Boston, Massachusetts. In addition, Ayr has also agreed to acquire Tahoe Hydro, an award winning grower and high quality cannabis flower product in Nevada. In September, the company signed an agreement to acquire the owner of the cannabis-infused hard seltzer Levia.
Additionally, the company opened its last dispensary in Pensacola, Florida. Ayr released its second quarter 2021 results with revenue of $ 91.3 million, up 222% year-over-year. The company has adjusted EBITDA of $ 27.4 million based on US GAAP, up 225% year-over-year. Ayr incurred 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 an AEBITDA of $ 300 million. In addition, Ayr provided a revenue forecast of $ 100 million for the third quarter of 2021. AYRWF stock closes on October 1st at $ 26.08, up 9.76% year-to-date.
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. is an industry leader providing packaged cannabis products and operating 109 retail outlets nationwide. Internationally, the company also began to expand with Curaleaf International advancing the accessibility of medical cannabis products in Germany through its wholly owned subsidiary Adven GmbH. Currently, Curaleaf is preparing to serve the New Jersey market with a new location, its third dispensary in the state. The company has the popular Select brand as one of its main brands in the United States.
Curaleaf released record results in the second quarter of 2021 with revenue of $ 312 million. Its second quarter revenue is up 20% from the first quarter of 2021 and 166% year-on-year. Notably, the company reported adjusted EBITDA of $ 84 million in the second quarter of 2021, up 201% year-over-year. As a result, gross margins reached around 50% thanks to higher yields in existing facilities. During the second quarter, the company opened five more dispensaries and continues to expand its presence in the third quarter. The company will publish its 3rd financial statements for the 2021 quarter on November 8, 2021, after market close. CURLF stock closed at $ 12.01, down 2.28% over the past five trading days.
Green Thumb Industries Inc.
Green Thumb Industries Inc. is a leading consumer cannabis packaging company that has established a large presence in key US markets. Currently, Green Thumb has 65 outlets in 14 states and recently opened its third store in New Jersey. In addition, GTI has licenses for 111 retail outlets for future expansions. In the second quarter of 2021, GTI opened a Cookies on the Las Vegas Strip thanks to an exclusive partnership with the private label Cookies. In addition, Green Thumb announced the closing of the acquisition of Dharma Pharmaceuticals and its entry into the cannabis market in Virginia.
In August, Green Thumb released 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 achieved revenue of $ 416.3 million, an increase of 87.3% from the previous year. As a result, this is the fourth consecutive quarter of positive GAAP net income with $ 22.1 million or $ 0.10 per diluted share. Green Thumb has Adjusted Operating EBITDA of $ 79.3 million or 35.7% of revenues. Company to report third quarter 2021 results on November 10e after closing. GTBIF title closes on October 1st to $ 27.57, up 12.53% year-to-date.