Are you looking for the best marijuana stocks to invest in for September? With the cannabis sector sustaining six months of declines most top cannabis stocks to buy could offer…
some upside for investors from current market value. In the US leading cannabis companies have been reporting strong earnings and revenue growth in this latest round of financials.
Unfortunately for investors, this has not had any impact on how the cannabis sector has been trading in the market. Instead, top pot stocks continue to trade near their lowest levels in 2021. One factor that’s taken its toll on the cannabis sector is federal cannabis legalization and reform. This summer Senate Majority Leader Chuck Schumer unveiled a draft of the Cannabis Administration and Opportunity Act to gain support for the legislation.
Now in the fourth quarter of 2021 cannabis investors are hoping to see this legislation introduced for a vote in Congress. In the event, any form of federal cannabis reform is passed this could be a huge catalyst for top cannabis stocks. To illustrate in the past any mention of federal cannabis reform has stimulated pot stocks this year. With other legislation like The SAFE Banking Act, and The MORE Act we saw significant upside when they passed in the House of Representatives.
Cannabis Industry Growth In 2021
Nevertheless, regardless of the federal prohibition on cannabis, on the state level, the cannabis industry is growing at a rapid pace. More states continue to implement cannabis legalization whether medical or recreational. This has continued to expand the market and give cannabis companies the ability to continue expanding their presence.
For investors, this could be a good time to put some top marijuana stocks on your list for September. Although these companies have seen declines in market value, they continue to perform at high levels in the cannabis market. Let’s look at 3 top marijuana stocks for your list before next week’s trading.
Best Cannabis Stocks For Your List Right Now
- Trulieve Cannabis Corp. (OTC: TCNNF)
- TerrAscend Corp. (OTC: TRSSF)
- Planet 13 Holdings Inc. (OTC: PLNHF)
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. is the cannabis company that holds the largest market share in Florida with more than 50% of the legal cannabis sales. As it stands, the company is in the process of making the acquisition of Harvest Health & Recreation Inc. (OTC: HRVSF). After the acquisition, the new company will have a consensus 2021 revenue of over $1.2 billion. Evidently, this would make Trulieve the largest revenue-producing cannabis company in the US. Right now, the company has 91 stores in Florida, and 101 nationwide, growing strategically in new markets. On September 1st the company opened its newest dispensary in Oviedo, Florida.
Additionally, the company also opened its first dispensary in the state of Massachusetts adding another market it can produce growth in. In August Trulieve reported its second-quarter 2021 financial results with a record-breaking performance. Notably, the company achieved its 14th consecutive quarter of profitability has served over 500,000 cannabis customers. As a result, the company saw revenues of $215.1 million and generated a net income of $40.9 million. TCNNF stock closed on September 3rd at $27.66 down 15.46% in the last month. The stock has a 52-week price range of $16.70-$53.73 and is down 12.52% year to date.
TerrAscend cultivates and sells medical and adult-use cannabis in Canada and the United States. At the present time…
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