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2 Of The Best Cannabis Stocks To Watch As August Starts Off Bullish

Could These Top Pot Stocks Be Big Gainers In August?

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This story originally appeared on MarijuanaStocks

Investing In Top Marijuana Stocks In 2021

Are you looking for the best marijuana stocks to buy in August 2021? After five consecutive months of market declines top cannabis stocks could begin to see some upside as they report earnings. In August most leading cannabis companies are scheduled to report financials and this could be a boost for the cannabis sector. Especially in the US leading cannabis companies have been reporting strong earnings heading into these reports.

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With another round of strong revenue growth expected pot stocks could be primed for some upward momentum right now. After peaking in February, the best marijuana stocks to invest in have been trading close to their lowest levels in 2021. For new investors interested in gaining exposure to the cannabis market this could be a good opportunity to start a position at lower trading levels.

To start August most top pot stocks began moving higher as the cannabis industry continues to grow and expand. This comes after reaching their lowest market value for this year so far in July. In the US leading cannabis companies have been expanding into new markets as more states legalize marijuana for medical and adult use. On the federal level, the possibility of reaching some type of cannabis legalization and reform continues to look promising.

The Best Pot Stocks Today And The Cannabis Sector’s Volatility

Before investing in cannabis stocks, it’s important for investors to do their research on marijuana companies before starting a position. Getting familiar with a company’s financials and studying how a stock moves in the market can help you achieve the best returns on your investments. Many investors do this by making a watchlist and observing pot stocks movements in the market. Another important element to keep in mind when trading cannabis stocks is their market volatility.

[Read More] Top Marijuana Stocks To Buy In August? 3 That Could Deliver Strong Cannabis Earnings

In general, the best marijuana stocks to buy are known for having high market volatility. This makes pot stocks a higher risk area of the market but has also delivered higher gains for investors. The US has some of the best-performing cannabis companies at the present time. Some have even begun to expand overseas recently. For investors looking for some of the top cannabis stocks for their watchlist, we can take a closer look at some industry leaders. In 2021 these could be some of the best marijuana stocks to buy in August.

Best Marijuana Stocks For Your Watchlist In August

  1. Green Thumb Industries Inc. (OTC:GTBIF)
  2. Curaleaf Holdings, Inc. (OTC:CURLF)

Green Thumb Industries Inc.

Green Thumb Industries Inc. is a leading US cannabis consumer packaged company that has established a strong presence in key markets across the country. Currently, Green Thumb has 61 retail locations across 14 states and recently closed the transaction to acquire vertically integrated cannabis businesses in Rhode Island. In addition, GTI has licenses for 111 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. Last month Green Thumb announced it closed the acquisition of Dharma Pharmaceuticals and is entering the Virginia cannabis market. the company is expected to announce second-quarter 2021 financials on August 11th after the close.marijuana stocks to watch Green Thumb Industries

GTBIF stock closed on August 2nd at $30.48 up 24.41% year to date. The stock has a 52-week range of $11.60-$39.11 and has declined by 7.88% in the last month of trading. According to analysts at Tip Ranks GTBIF stock has a 12-month average price target of $47.35 per share. This forecast would represent a gain of 55.35% from its last trading price of $30.48. GTBIF stock could be a top marijuana stock to add to your watchlist in August.

[Read More] 2 Marijuana Stocks To Watch To Start The Month Of August

Curaleaf Holdings, Inc.

Curaleaf Holdings, Inc. is a leading cannabis company with a strong presence in the US and has also begun to grow overseas. The company provides packaged cannabis products and operates 108 retail locations across 23 states. Recently, the company expanded with Curaleaf International advancing the accessibility of medical cannabis products in Germany through its wholly-owned subsidiary Adven GmbH. In detail, Curaleaf reported its first-quarter 2021 revenue of $260 million up 170% from the prior year.

Also, Curaleaf announced a recent strategic partnership between Curaleaf’s Select Brand and music and culture authority Rolling Stone. In a new product launch, the two companies are expected to introduce a new line of co-branded Rolling Stone by Select products. Currently, Curaleaf has affirmed its 2021 full-year guidance for revenue of $1.2 -$1.3 billion. For the company’s guidance for the second quarter of 2021, Curaleaf announced revenue of $305-$315 million. The company is expecting to release its second-quarter 2021 earnings on August 9th after the close.marijuana stocks to watch Curaleaf Holdings (CURLF) (CURA)

CURLF stock closed on August 2nd at $12.35 up 3.16% year to date. The stock has a 52-week range of $5.81-$18.38 and has declined by 11.72% in the last month. According to analysts at Market Beat CURLF stock has a consensus price target of $23.69 per share. In essence, this forecast would be a gain of 91.8% from its last trading price of $12.35. For this reason, CURLF stock could be a top cannabis stock for your list right now.

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