Are you looking for top marijuana stocks to buy after they started showing some upside last week? On Friday, November 5th the cannabis sector began to rally because of a republican led legislation the States Reform Act being drafted for…
federal marijuana legalization and reform. This month Rep. Nancy Mace is expected to introduce the bill officially in Congress.
This could be a significant catalyst for top cannabis stocks in the fourth quarter. Since February the top pot stocks have declined in the market and are now trading near some of the lowest price points seen in 2021. For new investors, this could be an opportunity to find marijuana stocks at lower price points. In 2021 US cannabis companies have been showing strong revenue growth in their financial results.
Although these earnings have been strong it has not translated into gains in the market partly because of delays with federal cannabis reform. With a new round of earnings scheduled in November and a bipartisan push to end prohibition, this could create some upward momentum this month. In 2020 the cannabis sector rallied on the notion we would end federal cannabis prohibition in 2021. Now that the possibility of this happening is increasing, we could experience some upside from cannabis stocks.
Investing In Pot Stocks As They Move Higher
Before investing in top marijuana stocks in 2021 it’s important to research these companies thoroughly before starting a position. In the US top-tier MSOs have continued to grow rapidly nationwide and could be a good place to invest in the cannabis market. Researching a company’s earnings and press releases can help you find the top performs in the market. In addition, following how a stock moves in the market can help establish the best entries for your investments. In 2021 top pot stocks have displayed substantial volatility throughout the year. As we start a new week of trading it could be time to make a list of top cannabis stocks to watch in November.
Best Marijuana Stocks To Add To Your List This Week
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. is a US MSO that provides packaged cannabis products and operates 109 retail locations nationwide. Additionally, the company has also begun expanding with Curaleaf International advancing the accessibility of medical cannabis products in Germany through its wholly-owned subsidiary Adven GmbH. The company has the popular brand Select as one of its leading brands in the US. On November 8th Curaleaf expanded its presence in three states with the acquisition of Tryke Companies. This acquisition adds assets in Arizona, Nevada, and Utah.
Curaleaf reported record second-quarter 2021 results with revenue of $312 million. Its second-quarter revenue is up 20% from Q1 2021 and 166% year over year. To highlight, the company reported second-quarter 2021 adjusted EBITDA of $84 million up 201% year over year. In addition, gross margins reached about 50% driven by higher yields at existing facilities. During Q2 the company opened another five dispensaries and continues to expand its footprint in the third quarter.
The company will release its 3rd quarter 2021 financials on November 8, 2021, after the market close. CURLF stock is closed at $10.06 on November 5th up 11.65% for the trading day. According to analysts at Tip Ranks CURLF stock has a price target of $22.97 per share. This forecast represents an upside of 128.33% from its last stock price of $10.06.
TerrAscend cultivates and sells medical and adult-use cannabis in Canada and the United States. In general, the company is a leading US cannabis operator with a footprint in Pennsylvania, New Jersey, and California. TerrAscend has licensed cultivation and processing facilities in Maryland and Canada. At the present time, the company produces and distributes hemp and cannabis-derived products and manufactures artisan edibles for cannabis consumers. Recently…
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