Best Marijuana Stocks To Buy After Earnings? 4 You Should Consider For Next Week

Top cannabis stocks and strong earnings in the second quarter of 2021

In August, the top marijuana stocks continued to see a pullback in the market. While most of the leading cannabis companies are delivering strong financial results in this winning round, these have not yet been launched. On the flip side, some of the top performing cannabis companies have seen the greatest falls in value. This downtrend has lasted for several months, bringing the cannabis sector to its lowest trading level in 2021. For new investors looking to open a position in this sector, it might be time to make a list of pot stocks for next week .

With more investors concerned about how the market will react to the resurgence of COVID-19 and the Delta variant, we could see further declines in the cannabis sector. One thing to keep in mind is that the cannabis industry has proven to be very resilient during the pandemic and is seen as an essential business. That means many cannabis companies can still do business if we face new bans in the US.

Events that could affect the performance of Pot Stocks

Now, with a resurgence of COVID-19 in the US, it could mean lawmakers will postpone legalizing and reforming cannabis at the federal level until the situation improves. For most of 2021, cannabis investors have been waiting for Congress to change old federal policy on cannabis. While we have a draft for possible legislation, it appears that Schumer is currently struggling to get enough support to pass the Cannabis Administration and Opportunity Act.

For new investors, it might be a good time to find the best marijuana stocks to watch for 2021. In the US, the cannabis market continues to grow rapidly and many leading companies are looking for the benefits. Although their performance does not bring market gains if market sentiment changes, this trend could be reversed. In mid-August, these could be the best marijuana stocks to buy in 2021.

[Read More] Joe Biden and Bernie Sanders discuss federal cannabis reform

The Best Marijuana Stocks to Watch for in August

GrowGeneration Corp. (NASDAQ: GRWG) Trulieve Cannabis Corp. (OTC: TCNNF) Verano Holdings Corp. (OTC: VRNOF) Cresco Labs Inc. (OTC: CRLBF)

GrowGeneration Corp

GrowGeneration Corp. is a leading owner and operator of retail hydroponic and organic horticulture stores in the United States. The company currently markets and sells organic, lighting, and hydroponic equipment, primarily used by cannabis growers. Currently, GrowGen has 58 organic garden centers in 12 states that recently opened its sixth store in Michigan. With the launch of GrowGeneration.com, the company also worked on its online presence. Specifically, the company has launched a newly designed e-commerce platform. The website is a one-stop e-commerce destination with over 10,000 products ranging from nutrients to lighting technologies. The company expects to have over 100 locations in the US over the next five years.

On August 12, GrowGen reported financials for the second quarter of 2021 with record sales of $ 125.9 million, up 190% from a year earlier. The company reported net income of $ 6.7 million and adjusted EBITDA of $ 14.5 million. In addition, the company raised its 2021 revenue forecast to between $ 455 million and $ 475 million. In detail, the company recorded a comparable increase in store sales of 60% compared to the previous year. Although GrowGen had strong sales growth, GRWG stock saw the biggest sell-off of any marijuana add-on stock. In the past five days, GRWG stock has fallen 25.63%, hitting its lowest trading price in 2021 last week.

[Read More] Top 3 Canadian Marijuana Stocks To Watchlist For In 2021

Trulieve Cannabis Corp.

Trulieve Cannabis Corp. Has the largest market share in Florida, accounting for more than 50% of the state’s legal cannabis sales. As of today, the company is a leading and top performing cannabis company in the acquisition of Harvest Health & Recreation Inc. (OTC: HRVSF). Upon completion of the acquisition, the new company will have consensus revenue of over $ 1.2 billion for 2021. In fact, this would make Trulieve the largest revenue generating cannabis company in the United States. The company currently has 88 stores in Florida and 97 nationwide and is strategically growing in new markets. This month the company announced the launch of a brand portfolio that includes four brand designs tailored to meet the needs of new cannabis users and connoisseurs.

In July, Trulieve announced that it had obtained a production license in Georgia, allowing the company to continue its presence in the southeast cannabis market. The company also opened its first pharmacy in the state of Massachusetts, adding another market in which to grow. On August 12, Trulieve released its financial results for the second quarter of 2021 with a record breaking performance. The company achieved its 14th consecutive quarter profitability and has served over 500,000 cannabis customers. Specifically, the company had sales of $ 215.1 million and net income of $ 40.9 million.

Verano Holdings Corp.

Verano is a vertically integrated MSO that offers US consumers regulated cannabis products. The company currently produces premium cannabis products that are sold under its portfolio of consumer brands. Verano is present in 14 US states and active in 11. The company has 84 pharmacies and 10 cultivation and processing plants. For the future, Verano expects to exceed 90 pharmacies in 2021. The company operates pharmacies under the Zen Leaf and MUV retail brands that target both the medical and adult markets.

Verano has completed the acquisition of TerraVida and The Healing Center. As a result, this acquisition gives Verano six pharmacies in Pennsylvania and approval to build another three in the state. At the end of July, the company opened a flagship pharmacy in Pittsburgh with a four-lane drive-through. The company opened its 36th MUV pharmacy in Florida on August 13 and plans to open another later this month. 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.

[Read More] Cannabis sales break a new record in Illinois in July

Cresco Labs Inc.

Cresco Labs Inc is currently one of the largest vertically integrated companies in the United States. The company is the leading wholesaler of branded cannabis products in America. The company operates 33 retail locations in 10 states. Cresco opened its fourth Sunnyside pharmacy in Pennsylvania as the company expanded into other key markets. The company recently announced a portfolio addition to its Good News brand with more edibles and steam choices. In detail, Cresco is launching the Counting Sheep, Day Off and Pride products under the Good News brand. These edibles and vape products will be available in California, Illinois, and Michigan.

On August 13, Cresco announced its second quarter 2021 results with record sales of $ 210 million and confirmed its annualized sales forecast of $ 1 billion in 2021. The company posted gross profits excluding fair value markups of 107 Million US dollars or 51% of sales. Cresco has net income of $ 2.7 million and adjusted EBITDA of $ 45.5 million. For the remaining two quarters of 2021, the company expects gross profit margins of over 50%.

The best marijuana stocks to buy after winning? 4 To Consider For Next Week First Appeared On Marijuana Stocks | Cannabis Investments and News. Roots of a budding industry. (TM).

COMTEX_391568019 / 2683 / 2021-08-14T12: 01: 01

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