Best Cannabis Stocks To Buy Right Now? 2 Top US Marijuana Stocks In Q2 2021

These Could Be Millionaire Maker Cannabis Stocks In 2021
Best Cannabis Stocks To Buy Right Now? 2 Top US Marijuana Stocks In Q2 2021
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Investing In Marijuana Stocks Summer 2021

Are marijuana stocks a good investment in the summer of 2021? With the cannabis sector trading near some of the lowest price points in June, there has been some upside so far this month. This could be a good time to find cannabis stocks to add to your watchlist this week. In the US cannabis companies are performing extremely well and expanding across the US into the emerging cannabis market.

Primarily, this growth has increased revenue and most top marijuana companies are reporting strong first-quarter 2021 results. In addition, many companies are forecasting much higher numbers in their 2021 guidance. As these cannabis companies expand mergers and acquisitions have become a method of rapidly growing their presence in the market. One factor that continues to help drive marijuana stocks in 2021 is federal cannabis legalization.

Currently, Congress is expected to vote on the MORE Act sometime in June. This could send the cannabis sector trading higher in the market. So far in 2021, the cannabis sector saw significant gains in the first few months of this year. Although some of these gains have been lost as the year progressed February highs could be a gauge as to where top marijuana stocks to buy could go with the proper catalysts.

Finding The Best Cannabis Investments In 2021

As an investor doing your own due diligence and research into a company is always important before investing.  In general, this will help you find the strongest companies and establish the best entry point for your position. One thing to always take into consideration before investing in pot stocks is market volatility.

Traditionally the best marijuana stocks to invest in are known for having extreme price fluctuations. Ultimately this volatility attracts short-term traders who capitalize off the swings in stock price by using day trading and swing trading methods.

[Read More] Best Marijuana Stocks To Watch This Week? 2 To Check Out Right Now

Currently, in June there are some US cannabis companies that have significant growth potential for investors in the short and long term. With the cannabis sector showing some upward momentum these marijuana stocks could produce substantial gains this month. With this in mind, let’s take a closer look at possibly 2 top marijuana stocks to buy in 2021.

Marijuana Stocks To Watch

  1. Trulieve Cannabis Corp. (OTC:TCNNF)
  2. TerrAscend Corp. (OTC:TRSSF)

Trulieve Cannabis Corp.

Currently, Trulieve Cannabis Corp. has the largest presence in Florida with over 50% of the market share in the state.  Recently the company has become one of the largest multi-state operators in the US. As it stands once the acquisition of Harvest Health & Recreation Inc. (OTC: HRVSF) is complete the two companies combined will have a consensus 2021 revenue of $1.2 billion. In fact, with this agreement, Trulieve is now considered the largest revenue-producing cannabis company in the world.  Once complete, the two company’s will operate in 11 states with a total of 126 dispensaries servicing both the medical and recreational cannabis markets.

Specifically, with a combined adjusted EBITDA of $266 million and a 2021 consensus adjusted EBITDA of $461 million, the company could be the most profitable cannabis company in the US. In May Trulieve reported a record first-quarter 2021 revenue of $193.8 million generating a net income of $30.1 million. On June 3rd the company opened its first dispensary in the state of Massachusetts marking a new market to grow in.TCNNF pot stock

TCNNF stock closed on June 9th at $38.05 up 20.81% year to date. In March TCNNF stock hit a new 52-week high of $53.73 and is down 6.65% in the last month. According to analysts at Tip Ranks TCNNF stock has a 12-month average price forecast of $70.13 per share. In essence, this would represent an increase of 84.31% from the last trading price. For this reason, TCNNF stock could be the best marijuana stock to buy in 2021.

[Read More] Congress Will Vote On Passing Federal Cannabis Reform In 2021

TerrAscend Corp.

TerrAscend is a leading US cannabis operator with its presence in Pennsylvania, New Jersey, and California. Additionally, the company has licensed cultivation and processing facilities in Maryland and Canada. Primarily, the company operates the Apothecarium a dispensary that has won previous awards as well as best in class cultivation.

In the company’s latest earnings TerrAscend reported first-quarter 2021 net sales of $53.4 million and adjusted EBITDA of $22.6 million. Also, TerrAscend announced the opening of its largest retail location with a 6500 square foot Apothecarium dispensary in New Jersey. For the future, the company is raising its full-year 2021 guidance for net sales to exceed $300 million and an adjusted EBITDA to be more than $128 million.TRSSF

TRSSF stock closed on June 9th at $11.14 up 12.94% year to date. In February TRSSF stock reached a high of $16.25 and has increased 377.35% in its 1-year performance. According to analysts at Market Beat TRSSF stock has a consensus price target of $18.54 per share. This would be an increase of 66.4% from current trading levels. With this in mind, TRSSF stock could be one of the top cannabis stocks to invest in this week in June.

[Read More] These Marijuana Stocks Are Building More Momentum In June

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