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Best Cannabis Stocks To Buy Right Now? 2 That Analysts Are Predicting Could Have Triple Digit Gains

Us Pot Stocks That Could Rebound During August Earnings Reports

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This story originally appeared on MarijuanaStocks

Top Marijuana Stocks To Watch Before Earnings

August is usually known as a bad month for the market but as top marijuana stocks to buy come to low price points in trading this could be a good opportunity for investors. For the past five months, the best cannabis stocks to invest in have been experiencing declines in 2021. After reaching new highs in February the cannabis sector has fallen to levels seen in December of 2020. Although many analysts are predicting upside from here it seems top marijuana stocks continue to pull back.

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One factor that investors think could start a rally in top pot stocks is marijuana legalization and reform. In July Chuck Schumer unveiled a draft of the Cannabis Administration and Opportunity Act. Attempting to gain more support for the bill Schumer is addressing lawmaker’s concerns trying to come to an agreement before he takes it on the floor for a vote.

This bill would end cannabis federal prohibition and allow cannabis companies to participate in regular banking. In any case, this would be a major event for the cannabis market and could produce upward momentum for cannabis stocks. Another possible catalyst that could occur this month is cannabis companies delivering strong earnings. As it stands top cannabis companies have already given guidance that predicts significant revenue growth in 2021.

Finding The Best Marijuana Stocks To Invest In

For investors, it’s important to always do your research into a company before investing.  One factor to consider before investing in cannabis stocks is market volatility. In general, pot stocks are known for being some of the more volatile stocks in the market. Because of this, it’s important for investors to find the best entry point when making an investment to solidify returns. Making a watchlist and observing how a stock performs in the market can help you establish the most gains in a trade.

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At the start of August trading, marijuana stocks began to show some upside earlier this week but are now mostly in the red this Wednesday. For investors looking for a good entry point, this could be a good time to start a watchlist of top pot stock. As we head into the cannabis companies earnings period these could be the top marijuana stocks to buy in August for a rebound.

The Best Marijuana Stocks For Your List In August

  1. Verano Holdings Corp. (OTC:VRNOF)
  2. TerrAscend Corp. (OTC:TRSSF)

Verano Holdings Corp.

Verano is a vertically integrated MSO in the U.S. devoted to the improvement of health and wellness by providing access to regulated cannabis products. Primarily, the company produces a comprehensive suite of premium, innovative cannabis products sold under its portfolio of consumer brands. At the present time, Verano has its presence in 14 U.S. States, with active operations in 11. Currently, Verano has 80 operational dispensaries, and 10 cultivation and processing facilities. The company anticipates opening another seven total new dispensaries in 2021. Verano operates dispensaries under retail brands Zen Leaf™ and MÜV™ catering to both medical and adult-use markets.

For its first quarter of 2021 financials, Verano reported earnings with revenue of $143 million up 117% from the prior year. The company saw gross profit margins of over 62% in the first quarter of 2021. Recently, Verano completed the acquisition of TerraVida and The Healing Center. In detail, this acquisition gives Verano six dispensaries in Pennsylvania and a permit to build an additional three in the state. To end July the company opened a flagship Pittsburgh dispensary with a four-lane drive-through. Verano announces it would deliver its second-quarter 2021 financials on August 10th before the open.VRNOF

VRNOF stock is trading at $15.00 on August 4th up 11.29% in the past five trading days. The stock has a 52-week price range of $13.75-$28.00 and is down 5.59% in the last month. According to analysts at Tip Ranks VRNOF stock has a 12-month average price target of $31.99 per share. In essence, this would represent an upside of 113.27% from its last trading price of $15.00. With significant gains predicted by analysts could VRNOF stock be a top marijuana stock on your list in August?

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TerrAscend Corp.

TerrAscend cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. The company is a leading US cannabis operator with a footprint in Pennsylvania, New Jersey, and California. A cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. At the present time, TerrAscend has licensed cultivation and processing facilities in Maryland and Canada. The company produces and distributes hemp and cannabis-derived products and manufactures artisan edibles for cannabis consumers.

TerrAscend reported first-quarter 2021 net sales of $53.4 million and adjusted EBITDA of $22.6 million As a result, the company raised its full-year 2021 guidance for net sales to exceed $300 million and an adjusted EBITDA to be more than $128 million. Recently, TerrAscend launched a portfolio of Kind Tree Branded products in Maryland. The Maryland facility was already producing 15 strains of flower under the Kind Tree brand and now will add vapes and half gran pre-rolls to the lineup. TerrAscend is expected to release its second-quarter 2021 financials on August 19th before the market opens.TRSSF

TRSSF stock is trading at $8.61 on August 4th down 14.28% year to date.  Currently, the stock has a 52-week price range of $3.38-$16.25 and has declined by 24.43% in the last 30 days. According to analysts at Market Beat TRSSF stock has a consensus price target of $18.21 per share. This forecast would be a gain of 111.4% from its last trading price of $8.61. As the cannabis sector delivers earnings TRSSF stock could be one of the best marijuana stocks to buy in August 2021.

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