Invest in marijuana stocks and understand the cannabis sector
As overall markets improved in June, the top marijuana stocks to buy also saw some appreciation. One area of the market that is showing upward momentum for investors is US marijuana stocks for sale. In 2021, U.S. cannabis companies saw strong sales growth and continue to expand rapidly into new U.S. markets. Since the pandemic, most American cannabis companies have managed to continue seeing significant growth for investors.
Though top companies delivered phenomenal profits in 2021, which was reflected in market gains for these pot stocks. Recently, the only catalyst for the cannabis sector has been the legalization and reform of cannabis at the federal level. Now that the likelihood increases that there could be changes to federal cannabis policy this year, the cannabis sector could see some upward trends.
For investors unfamiliar with the top U.S. cannabis companies in the market, we can take a closer look at some of the top pot stocks for your watchlist next week. Before starting a position, investors should always do their research and due diligence on a company. With that in mind, we can take a look at the 5 best marijuana stocks to buy in 2021.
Top U.S. Marijuana Stocks to Add to Your Watchlist
- Green Thumb Industries Inc. (OTC: GTBIF)
- Curaleaf Holdings, Inc. (OTC: CURLF)
- Cresco Labs Inc. (OTC: CRLBF)
- Trulieve Cannabis Corp. (OTC: TCNNF)
- Ayr Wellness Inc. (OTC: AYRWF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. is a leading packaged cannabis company with a large presence in the United States. GTI recently opened its 58th pharmacy location and is now represented in 11 countries. The company also acquired the Massachusetts-based cannabis operator Liberty Compassion Inc. Green Thumb currently holds licenses for 103 retail locations across the country. In its most recent financial data, GTI announced total revenues of $ 194.4 million for the first quarter of 2021. This compares to an 89.5% increase over Q1 2020. In addition, GTI reports first quarter gross profit of $ 110.9 million, or 57% of sales. It appears that the company posted positive GAAP net income of $ 10.4 million, or $ 0.05 per basic basic share, for the third straight quarter.
In May, Green Thumb opened a Cookies on the Las Vegas Strip through an exclusive partnership with privately owned Cookies Brand. Cookies is a Bay Area brand founded by entrepreneur Berner with partner Jai, a master cannabis breeder and breeder. Currently, Cookies is one of the most popular brands of cannabis among younger marijuana users. GTBIF closed on June 25, up $ 32.25, up 12.80% over the past five trading days.
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Curaleaf Holdings, Inc.
One of the leading cannabis companies expanding in key US markets is Curaleaf Holdings, Inc. The company offers packaged cannabis products and recently opened its 107th retail location in New Jersey. Recently, Curaleaf reported its first quarter 2021 revenue of $ 260 million, up 170% year over year. The company also announced a revenue forecast for the second quarter of 2021 of between $ 305 million and $ 315 million.
Curaleaf announced a strategic partnership between Curaleafs Select Brand and music and culture leader Rolling Stone. In detail, the two companies are launching a new line of Rolling Stone by Select products in co-branding. Curaleaf continues to expand its presence in the US and abroad. In addition, the company delivered strong Q1 results excluding the New York and New Jersey revenues. Currently, with these new markets in the equation, Curaleaf could beat its full-year 2021 forecast for sales of $ 1.2 billion to $ 1.3 billion. CURLF stock closed at $ 14.55 on June 25, up 9.32% over the past five days.
Cresco Labs Inc.
Cresco Labs Inc is currently one of the largest multi-state operators in the United States and the leading wholesaler of branded cannabis products. The company is currently expanding rapidly to operate 33 pharmacies in 10 states and recently opened its fourth pharmacy in Pennsylvania. In the first quarter of 2021, Cresco posted record sales of $ 178 million. The company now expects annualized sales of more than $ 1 billion in 2021.
Additionally, the company posted gross income of $ 87.0 million, or 48.8% of sales, for the first quarter. Cresco currently expects gross profit margins in excess of 50% for the remaining 3 quarters. This month, Cresco announced a portfolio addition to its Good News brand with new selections in both edibles and vapes. Currently, these edibles and vape products will be available in California, Illinois, and Michigan. CRLBF stock closed at $ 11.29, up 14.45% over the year to date.
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Trulieve Cannabis Corp. is the largest MSO in the US with the strongest presence in Florida. With over 50% of the Florida market share, Trulieve recently acquired another industry leader to make it the most dominant US cannabis company. Upon completion of the acquisition of Harvest Health & Recreation Inc. (OTC: HRVSF), the company will have consensus sales of $ 1.2 billion in 2021. Trulieve is now recognized as the largest revenue producing cannabis company in the world. Specifically, the two companies will operate together in 11 countries with a total of 126 pharmacies serving both the medical and the recreational cannabis market.
With combined adjusted EBITDA of $ 266 million and adjusted EBITDA of $ 461 million in 2021, the company could be the most profitable cannabis company in the U.S. In May, Trulieve reported record sales of $ 193.8 million for the first quarter of 2021 and net income of $ 30.1 million. On June 3, the company opened its first pharmacy in the state of Massachusetts, opening up a new market in which to establish itself. TCNNF shares closed at $ 38.99 on June 25, up 23.32% year-to-date.
Ayr Wellness Inc.
Currently, Ayr is a multi-state operator that has seen significant growth in 2021. Recent acquisitions have made Ayr Wellness Inc. the fourth largest cannabis company in Florida. In addition, the company has expanded its presence in other key markets across the country. Ayr currently has 34 pharmacies in Florida and a total of 50 stores across the country. In its first quarter 2021 financial data, the company had revenue of $ 58.4 million, up 74% year over year.
For the second quarter of 2021, Ayr released a revenue forecast of $ 90 million, up 218% year over year. The company also confirmed its forecast for 2022 with sales of around $ 725 million. In the first quarter of 2021, the company opened its sixth Nevada pharmacy near the Las Vegas airport. On June 21, Ayr opened its third Pennsylvania pharmacy from CannTech PA, LLC, a wholly owned subsidiary of the company. AYWRFS stock closed at $ 27.94 on June 25, up 5.42% over the past five trading days.
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Final thoughts on US cannabis stocks
As the U.S. continues to expand into new states and the recreational cannabis market grows, these cannabis companies could have long-term growth for investors. U.S. cannabis companies have outperformed their Canadian counterparts and could continue to grow in 2021. Because of this, these could be the best U.S. marijuana stocks to buy before July.
The post, The Best Ways To Invest In Top Marijuana Stocks In 2021? 5 Cannabis Stocks to Watch Out for Next week came first on Marijuana Stocks | Cannabis Investments and News. Roots of a budding industry. (TM).
COMTEX_389003366 / 2683 / 2021-06-27T16: 00: 42
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