September 4, 2021 6 minutes to read
This story originally appeared on MarijuanaStocks
Best cannabis stocks in September 2021
At the beginning of September, the best marijuana stocks in the market began to show some uptrends. After falling significantly in value over the past six months, it may be time for a turnaround in top pot stocks. In the US, cannabis companies have made strong profits that have had no impact on the market. For most of 2021, the cannabis sector appears to be in decline as Congress failed to pass legalization and reform of cannabis at the federal level.
In the fourth quarter of 2021, we could see the introduction of some form of cannabis reform. If that happens, it could create some upward trend in top cannabis stocks to buy this year. Currently, US MSOs are expanding rapidly in the US and building their market share in the growing cannabis industry. Many analysts expect US cannabis sales to more than double in the next five years.
Recreational cannabis sales are projected to reach $ 42 billion by 2026, according to a report by Statista. By comparison, US cannabis sales in 2020 were $ 18.9 billion. In the next few months, we could see more states like New Jersey launching their cannabis programs and creating new markets for the industry. It’s safe to say that the U.S. cannabis industry and its high-profile companies could be a good place to invest in cannabis for the long term.
Find the Best Pot Stocks to Buy Right Now
For investors researching a company’s earnings and studying its stock performance in the market, this is a great way to establish the best positions. Currently, it is not possible for many retail investors to buy top US marijuana stocks because they are trading in the OTC markets. Currently, popular apps like Robinhood and WeBull don’t allow buying stocks over the OTC.
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This ultimately put US MSOs away from the fastest growing retail community today. Seasoned cannabis investors buy these cannabis stocks through other major trading platforms such as E * TRADE, TD Ameritrade or Charles Schwab. With that in mind, let’s take a look at 3 top marijuana stocks to watch for for next week’s list.
Top US marijuana stocks September 2021
- Ayr Wellness Inc. (OTC: AYRWF)
- Verano Holdings Corp. (OTC: VRNOF)
- Curaleaf Holdings, Inc. (OTC: CURLF)
Ayr Wellness Inc.
Currently, Ayr Wellness Inc. is the fourth largest cannabis company in the Florida cannabis market. Ayr currently operates 38 pharmacies in Florida and a total of 52 stores across the country. The company recently entered the Illinois market with the acquisition of Herbal Remedies Dispensaries, LLC. In addition, Ayr was granted a preliminary license to sell adult cannabis in major Boston pharmacies in Massachusetts. Ayr has also agreed to acquire Tahoe Hydro, an award-winning breeder and high quality cannabis flower products based in Nevada. In August, Ayr Wellness Partner Land of Lincoln was awarded a license to run a retail pharmacy in Illinois as part of the state lottery.
On August 16, Ayr announced its second quarter 2021 results, with revenues of $ 91.3 million, up 222% year over year. Adjusted EBITDA for the company was $ 27.4 million on a US GAAP basis, up 225% year over year. However, Ayr suffered a US GAAP operating loss of $ 24.9 million. This included one-time charges and non-operational adjustments of $ 52.3 million. The company has raised its 2022 revenue target to $ 800 million with an AEBITDA of $ 300 million. Additionally, Ayr reported revenue of $ 100 million for the third quarter of 2021. AYRWF stock closed at $ 24.35 on September 3, down 16.32% last month.
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Verano Holdings Corp.
Likewise, Verano is a vertically integrated MSO that offers US cannabis users regulated cannabis products. Primarily, the company produces premium cannabis products that are sold by consumer brands under its portfolio. In detail, Verano has a presence in 14 US states and is currently active in 11. The company currently has 85 operational pharmacies and 10 cultivation and processing plants. The company currently has 40 pharmacies in Florida. Verano expects to reach more than 90 pharmacies in 2021. Indeed, the company operates pharmacies under the retail brands Zen Leaf ™ and MÜV ™, which target both the medical and adult markets.
Verano recently completed the acquisition of TerraVida and The Healing Center. This will give Verano six pharmacies in Pennsylvania. The company will also have permits to build three more in the state. To illustrate, the company opened a flagship pharmacy in Pittsburgh with a four-lane drive earlier this year. Verano announced financial data for the second quarter of 2021 with record sales of $ 199 million, up 164% year over year. As a result, gross profit on an unadjusted basis was $ 100 million, or 50% of sales. VRNOF stock closed at $ 12.75 on September 3, up 11.35% over the past five trading days.
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Curaleaf Holdings, Inc.
As an industry leader, Curaleaf Holdings, Inc. offers packaged cannabis products and operates 109 retail locations across the United States. In addition, the company is expanding with Curaleaf International. First of all, the promotion of the accessibility of medical cannabis products in Germany by the wholly owned subsidiary Adven GmbH. Recently the company also launched B Noble Brand. A partnership between Curaleaf, Bernard Noble and Fab Five Freddy to raise awareness of the need for cannabis law reform. In August, Curaleaf prepares its third pharmacy in New Jersey with a new location to serve the market. This week, in an interview with True Trading Group, Curaleaf founder Boris Jordan spoke about how his cannabis products company was prepared to cater to the New Jersey market when it opened.
In August, Curaleaf reported record results for the second quarter of 2021 with sales of $ 312 million. Revenue in the second quarter is up 20% from the first quarter of 2021 and up 166% year over year. The company reported adjusted EBITDA of $ 84 million for the second quarter of 2021, up 201% year over year. In addition, gross margins reached around 50% due to higher yields in existing plants. The company opened another five pharmacies in the second quarter and continues to expand its presence in the third quarter. CURLF stock closed at $ 12.09 on September 3, and has been flat for the past five trading days.