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2 Top Marijuana Stocks To Add To Your Watchlist Before Next Week

Top Marijuana Stocks For Your List While The Cannabis Sector Is Down

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This story originally appeared on MarijuanaStocks

The Current Events Affecting Top Cannabis Stocks

To end this week the best marijuana stocks to buy are trading much lower in value. This is partly due to comments from the White House that show a lack of support for the current cannabis reform bill introduced by Chuck Schumer. Specifically, the White House press secretary Psaki reaffirmed Biden’s stance on cannabis. In detail, the president wants to decriminalize cannabis as promised on the campaign trail and slowly change how marijuana is currently scheduled federally.

Marijuanastocks.com via MarijuanaStocks

This stance does not coincide with what lawmakers revealed in congress right now and sent the cannabis sector trading lower to close the week. Relatively speaking, this could be a good opportunity to find the best marijuana stocks to buy at lower market value. In the US leading cannabis companies have been delivering strong earnings to start 2021. In addition, most have given significant upside for their revenue guidance this year.

Although this has not impacted how they trade in the market it does show growth and strength in the cannabis market. For new investors not familiar with pot stocks they are some of the more volatile stocks in the market. After a rally for the first two months, most cannabis stocks have seen a substantial decline in value for more than four months. Although June began showing some upward momentum currently the best pot stocks to watch have given most of those gains back.

Finding The Best Cannabis Investments For Your Portfolio

For investors doing your due diligence and researching a company and the stock before investing could help you establish the best positions in the market. As we close out the week some of these pot stocks could offer investors significant gains as the summer continues. In the next five years, many analysts are predicting significant growth for the cannabis industry.

[Read More] Here’s A Look Into Schumer’s Federal Cannabis Reform Bill

Especially in the US revenue in the cannabis market is expected to more than double during this time period. For new investors, this summer could be a good time to add these marijuana stocks to your watchlist. With this in mind, let’s take a closer look at possibly 2 of the top US marijuana stocks to buy in 2021.

Marijuana Stocks To Watch

  1. Green Thumb Industries Inc. (OTC:GTBIF)
  2. Verano Holdings Corp. (OTC:VRNOF)

Green Thumb Industries Inc.

Green Thumb Industries Inc. is a leading US cannabis consumer packaged company that has established a dominant presence in key markets. Currently, Green Thumb has 58 retail locations across 11 states and recently acquired a Massachusetts cannabis operator Liberty Compassion Inc. At this time GTI has licenses for 103 retail locations for future expansions. In its first-quarter 2021 financials, the company reported total revenue of $194.4 million. This is an increase of 89.5% from Q1 of 2020.   As a result, the company is reporting gross profits of $110.9 million or 57% of revenue. This is the companies third consecutive quarter of positive GAAP net income with income of  $10.4 million or $0.05 per basic diluted share.

In the second quarter, GTI opened a Cookies on the Las Vegas Strip through an exclusive partnership with the privately-owned Cookies Brand. On August 11th after the close, the company is expected to announce second-quarter 2021 financials. On July 1st Green Thumb announced it closed the acquisition of Dharma Pharmaceuticals and is entering the Virginia cannabis market.GTBIF

GTBIF stock is currently trading at $30.44 on July 16th up 26.73% year to date. In February GTBIF stock reached a 52-week high of $39.11 and has gained 170% in its 1-year performance. According to analysts at Tip Ranks GTBIF stock has a 12-month average price target of $49.49 per share. This forecast would represent an upside of 63.17% from its current trading price of $30.44. For this reason, GTBIF stock could be one of the top US cannabis stocks to buy in 2021.

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Verano Holdings Corp.

Verano Holdings Corp. is a leading MSO in the U.S. devoted to providing responsible access to regulated cannabis products. Primarily, the company produces a comprehensive suite of premium, innovative cannabis products sold under its portfolio of consumer brands. The company’s portfolio is available in 14 U.S. States, with active retail operations in 11 of those states. At the present time, Verano has 78 operational retail dispensaries, and 10 cultivation and processing facilities. Currently, the company designs, builds, and operates dispensaries under retail brands Zen Leaf™ and MÜV™ that deliver a superior cannabis shopping experience in both medical and adult-use markets.

Verano is expected to announce its second-quarter 2021 financials on August 10th before the open. In its first-quarter 2021 financials, the company reported earnings of $143 million up 117% from the prior year. As a result, the company saw gross profit margins of over 62% in Q1 2021. In 2021 Verano completed the acquisition of TerraVida and The Healing Center. With these acquisitions, the company added six dispensaries in Pennsylvania and acquired a permit to build an additional three in the state.VRNOF

VRNOF stock is trading at $15.20on July 16th down 14.70% in the past 30 days. In February VRNOF stock reached a high of $28.00 per share. According to analysts at Market Beat VRNOF stock has a consensus price target of $25.50 per share. This forecast represents an upside of 67.8% from its current trading price of $15.20. With this in mind, VRNOF stock could be one of the best marijuana stocks to invest in during July.

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