The best cannabis stocks to buy this week? 3 U.S. pot stocks to watch in October
The best stocks of marijuana in the U.S. cannabis market
Are you on the hunt for the best marijuana stocks to buy while cannabis stocks are dwindling in the market? With the passage of the House of marijuana legalization and banking reform, there may soon be a catalyst for cannabis stocks. Although the federal government has been slow to move forward on legalizing marijuana, many new states have moved forward. As the cannabis industry continues to grow at the state level, major companies are gaining market share. In 2021, most of the top cannabis companies in the United States reported strong revenue growth in their latest earnings.
Many analysts believe the next five to ten years will be years of rapid growth for the cannabis market. But it appears that without the federal government taking action on cannabis reform, the cannabis industry continues its downward trend. Over the past seven months, the best cannabis stocks to buy have seen declines in the market. As a result, many top cannabis stocks are trading near their lowest prices in 2021.
This created an opportunity for investors to get into some of the best marijuana stocks at lower prices for this year. In general, until US marijuana stocks trade on major US exchanges, they are limited to a smaller investor market. Ultimately, with federal cannabis legalization and reform, US marijuana stocks will be able to move from OTC markets to NASDAQ and NYSE.
US Cannabis Industry Growth Forecast and Best Pot Stocks in 2021
According to a recent BDSA report, cannabis sales in the United States are expected to exceed $ 24 billion in 2021. Additionally, the same report predicts that sales in the United States will reach $ 47.6 billion in 2026. Currently, many cannabis companies are positioning themselves to grow with the market. From current trading levels, some pot stocks could potentially generate significant gains for investors. Of course, it is with the understanding that this is a high risk and reward investment.
[Read More] Are American MSOs the Best Marijuana Stocks to Buy? 3 for your list now in October
Before investing in cannabis, there are a few important factors to consider. On the one hand, pot stocks are known to have significant market volatility. For this reason, it is important to study the performance of these stocks in the market in order to find the best entry point for your investment. Researching a company’s financial data and tracking cannabis stock charts can help you establish the best returns on your investment. For investors, this might be a good time to put together a watch list of top marijuana stocks in Q4 2021.
The Best Marijuana Stocks To Add To Your List Now
- Ayr Well-being Inc. (OTC: AYRWF)
- Ascend Wellness Holdings, Inc. (OTC: AAWH)
- TerrAscend Corp. (OTC: TRSSF)
Ayr Well-being Inc.
Ayr Wellness Inc. is the fourth largest US MSO in the Florida cannabis market. At present, Ayr has 42 operating dispensaries in Florida and a total of 59 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 cultivator and high quality cannabis flower product in Nevada. In September, the company signed an agreement to acquire the owner of the cannabis-infused hard salts Levia.
Ayr reported 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 8e at $ 24.46, down 6.21% over the past five trading days. According to Tip Ranks, AYRWF stock has a 12-month average price target of $ 55.56 with a rise of 127.15%.
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Ascend Wellness Holdings, Inc.
Second on the list is AWH, a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts and New Jersey. Currently, AWH owns and operates state-of-the-art cultivation facilities, cultivating award-winning varieties and producing an organized product selection. Its business provides accessible retail experiences, trusted products and exclusive branded partnerships, and produces and distributes Ozone branded products. In general, the Company’s cannabis product categories include flowers, pre-rolls, concentrates, vapes, edibles and other cannabis related products. Currently, AWH operates 17 outlets and sells its products to third-party licensed cannabis retail stores. So far in October, Ascend is expanding its vertically integrated presence in Ohio.
AWH released its financial results for the second quarter of 2021 with net sales of $ 83.4 million, up 26.1% sequentially. In detail, the company has increased its net revenue forecast for the year 2021 to $ 330-350 million. AWH incurred a net loss of $ 44.9 million in the second quarter of 2021, mainly due to a non-cash interest charge of $ 32 million related to the company’s IPO in May 2021 In 2021, the company added five new dispensaries since the start of the year with 3 becoming operational in the second district. In September, AWH announced that it had introduced the legendary Lowell Smokes brand pre-rolls from Lowell Farms Inc. (OTC: LOWLF) to the Massachusetts market. The partnership is an extension of a similar launch in Illinois by the two companies. Closing of the AAWH title on October 8e at $ 9.00 down 10.63% in the last month of trading.
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Currently, TerrAscend cultivates and sells medical and adult cannabis in Canada and the United States. Specifically, the company is a leading US cannabis operator with a presence in Pennsylvania, New Jersey and California. In general, TerrAscend has licensed growing and processing facilities in Maryland and Canada. Specifically, the company produces and distributes products derived from hemp and cannabis and manufactures homemade edibles for cannabis consumers. TerrAscend has launched a Kind Tree branded product portfolio in Maryland. The Maryland plant was already producing 15 varieties of flowers under the Kind Tree brand and will now be adding half-gran vapes and pre-rolls to the range.
In August, TerrAscend released its second quarter results with net sales of $ 58.7 million, a 72% year-over-year increase. Therefore. To highlight, the company has Adjusted EBITDA of $ 24.3 million, up from $ 22.6 million in the first quarter of 2021. Additionally, TerrAscend has signed an agreement to be the sole grower and manufacturer of COOKIES-branded products in New Jersey and brings COOKIES to its three dispensaries across the state. In September, the company received prequalification approval from Michigan to acquire Gage Growth Corp. (OTC: GAEGF). TRSSF stock closed at $ 6.58 on October 8e down 8.31% in the last month of trading.
The post The Best Cannabis Stocks To Buy This Week? 3 US stocks to watch in October appeared first on marijuana stocks | Cannabis investments and news. Roots of a budding industry. (TM).
COMTEX_394904678 / 2683 / 2021-10-10T16: 50: 14
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