There are many ways to invest in marijuana stocks in 2021. Most cannabis stocks are known for being some of the more volatile stocks in the market. But for the long-term investor there are options that have shown more…
stability. For the past few years, ancillary marijuana stocks have seen significant upside in the market. Ancillary cannabis companies are those companies that support the cannabis industry without touching the actual plant. Some of these companies are well-positioned to grow alongside the cannabis industry as the market grows.
One area involves companies that provide the hydroponic, lighting, and organic nutrients needed to grow cannabis. In the US leading companies have continued to expand their footprint across the country as new cannabis markets are created. During their most recent earnings, these companies are showing significant revenue growth.
In the next five years, the cannabis industry is predicted to more than double in size in terms of sales. According to Statista, US recreational cannabis sales are forecast to reach $42 billion by 2026. That’s a huge increase from the $18.93 billion in 2020. As the demand for more cannabis is seen in the US the best positioned ancillary companies could see substantial growth.
Top Cannabis Stocks For Long Term Positions
For investors researching these companies thoroughly and doing your due diligence is very important before investing. Studying how a stock moves in the market can help you achieve the best entry for your investment. Currently, some of the best pot stocks to buy are trading close to their lowest price points in 2021. Generally, this could be a good opportunity to watch how these cannabis stocks continue to behave in the market going into September. In the US and Canada, demand is increasing as the market grows.
In the event, Congress introduces legislation that gives the cannabis industry the reform it needs the sector could see significant upside. The hydroponic gardening business continues to be one of the main ways growers cultivate cannabis. As We head into September let’s look at 2 ancillary marijuana stocks to add to your list in September 2021.
Top Cannabis Stocks September 2021
Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc. is a leading distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture. Primarily, the company offers an extensive variety of equipment that facilitates the cannabis growing process. In general, the company offers high-intensity grow lights, climate control solutions, and growing media, as well as a broad portfolio of innovative and proprietary branded products. For some history, Hydrofarms has been in business for over 40 years helping growers in the US and Canada achieve premium-quality farming products.
On August 12th Hydrofarm reported its second-quarter 2021 results with net sales of $133.8 million up 46.7% year over year. In addition…
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